Piper Sandler Lowers Plumas Bancorp (NASDAQ:PLBC) Price Target to $59.00

Plumas Bancorp (NASDAQ:PLBC) had its price objective lowered by analysts at Piper Sandler from $60.00 to $59.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target indicates a potential upside of 43.62% from the company’s current price.

Separately, Raymond James restated an “outperform” rating and set a $54.00 price target (up previously from $49.00) on shares of Plumas Bancorp in a research note on Thursday, January 30th.

Plumas Bancorp Stock Up 3.0 %

Shares of Plumas Bancorp stock opened at $41.08 on Thursday. Plumas Bancorp has a 52-week low of $32.50 and a 52-week high of $51.33. The firm’s 50 day moving average price is $43.22 and its 200-day moving average price is $44.62. The company has a market cap of $243.19 million, a P/E ratio of 8.58 and a beta of 0.55.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. The business had revenue of $21.50 million for the quarter, compared to the consensus estimate of $20.62 million. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, equities research analysts forecast that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

Insider Buying and Selling at Plumas Bancorp

In other Plumas Bancorp news, Director Michael Kevin Foster purchased 1,000 shares of Plumas Bancorp stock in a transaction on Thursday, February 20th. The stock was bought at an average cost of $45.67 per share, with a total value of $45,670.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $45,670. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.00% of the company’s stock.

Institutional Trading of Plumas Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in PLBC. Wealth Enhancement Advisory Services LLC lifted its position in Plumas Bancorp by 3.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,014 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 386 shares during the period. Albert D Mason Inc. lifted its holdings in shares of Plumas Bancorp by 354.3% in the 1st quarter. Albert D Mason Inc. now owns 33,979 shares of the financial services provider’s stock valued at $1,470,000 after buying an additional 26,500 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Plumas Bancorp by 4,382.1% in the 1st quarter. GAMMA Investing LLC now owns 1,255 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,227 shares during the period. Putney Financial Group LLC purchased a new stake in shares of Plumas Bancorp in the fourth quarter worth about $571,000. Finally, Deutsche Bank AG grew its holdings in Plumas Bancorp by 68.0% during the fourth quarter. Deutsche Bank AG now owns 5,031 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 2,036 shares during the period. Institutional investors and hedge funds own 41.68% of the company’s stock.

About Plumas Bancorp

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.