Plumas Bancorp (NASDAQ:PLBC) Now Covered by Stephens

Stephens started coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a research report sent to investors on Wednesday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $60.00 price objective on the financial services provider’s stock.

Separately, Raymond James lifted their price objective on shares of Plumas Bancorp from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd.

Plumas Bancorp Price Performance

Plumas Bancorp stock opened at $50.10 on Wednesday. Plumas Bancorp has a 12-month low of $32.50 and a 12-month high of $51.33. The company has a market capitalization of $295.44 million, a price-to-earnings ratio of 10.50 and a beta of 0.67. The firm’s fifty day moving average price is $43.15 and its 200 day moving average price is $39.58.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.31%. The business had revenue of $24.10 million during the quarter, compared to the consensus estimate of $20.60 million. Analysts forecast that Plumas Bancorp will post 4.66 earnings per share for the current fiscal year.

Plumas Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.08 annualized dividend and a dividend yield of 2.16%. Plumas Bancorp’s dividend payout ratio (DPR) is 22.64%.

Insiders Place Their Bets

In related news, EVP Bj North sold 2,496 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.55, for a total transaction of $106,204.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plumas Bancorp

Institutional investors have recently made changes to their positions in the company. Barclays PLC grew its stake in Plumas Bancorp by 275.4% in the 3rd quarter. Barclays PLC now owns 7,155 shares of the financial services provider’s stock valued at $292,000 after buying an additional 5,249 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Plumas Bancorp by 5.2% during the third quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider’s stock valued at $5,033,000 after acquiring an additional 6,075 shares during the period. Jane Street Group LLC grew its position in shares of Plumas Bancorp by 7.9% in the third quarter. Jane Street Group LLC now owns 6,206 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 457 shares during the last quarter. State Street Corp increased its position in Plumas Bancorp by 3.8% in the 3rd quarter. State Street Corp now owns 68,879 shares of the financial services provider’s stock worth $2,809,000 after buying an additional 2,526 shares during the period. Finally, Fourthstone LLC acquired a new position in shares of Plumas Bancorp during the third quarter worth approximately $521,000. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Plumas Bancorp Company Profile

Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.