Plumas Bancorp (NASDAQ:PLBC) Coverage Initiated at Piper Sandler

Piper Sandler started coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a report released on Thursday, MarketBeat reports. The firm set an “overweight” rating and a $60.00 price target on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 30.55% from the company’s previous close.

A number of other research analysts also recently issued reports on PLBC. Raymond James restated an “outperform” rating and issued a $54.00 price objective (up previously from $49.00) on shares of Plumas Bancorp in a research note on Thursday, January 30th. Stephens initiated coverage on Plumas Bancorp in a research note on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 price objective for the company.

Plumas Bancorp Trading Up 3.0 %

Shares of Plumas Bancorp stock opened at $45.96 on Thursday. The stock has a fifty day simple moving average of $46.00 and a 200 day simple moving average of $44.00. 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 $271.03 million, a P/E ratio of 9.60 and a beta of 0.70.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.14. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. On average, analysts predict that Plumas Bancorp will post 4.51 EPS for the current year.

Insider Transactions at Plumas Bancorp

In related news, Director Michael Kevin Foster acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average price of $45.67 per share, with a total value of $45,670.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $45,670. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 9.00% of the stock is owned by corporate insiders.

Institutional Trading of Plumas Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management purchased a new stake in Plumas Bancorp during the 4th quarter worth about $32,000. Tower Research Capital LLC TRC lifted its holdings in Plumas Bancorp by 447.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,106 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 904 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Plumas Bancorp during the 4th quarter worth about $105,000. Wells Fargo & Company MN lifted its holdings in Plumas Bancorp by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 3,221 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 703 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Plumas Bancorp during the 4th quarter worth about $222,000. Hedge funds and other institutional investors own 41.68% of the company’s stock.

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.