Plumas Bancorp’s (PLBC) “Outperform” Rating Reiterated at Raymond James

Plumas Bancorp (NASDAQ:PLBC)‘s stock had its “outperform” rating reiterated by equities research analysts at Raymond James in a research note issued to investors on Thursday,Benzinga reports. They currently have a $54.00 price objective on the financial services provider’s stock, up from their previous price objective of $49.00. Raymond James’ price objective points to a potential upside of 18.42% from the company’s previous close.

Separately, Stephens initiated coverage on Plumas Bancorp in a report on Wednesday, November 27th. They set an “overweight” rating and a $60.00 price objective on the stock.

Plumas Bancorp Price Performance

NASDAQ:PLBC opened at $45.60 on Thursday. The company has a market capitalization of $269.04 million, a P/E ratio of 9.52 and a beta of 0.71. Plumas Bancorp has a 1 year low of $32.50 and a 1 year high of $51.33. The business has a fifty day simple moving average of $47.26 and a two-hundred day simple moving average of $43.35.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.14. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. As a group, analysts anticipate that Plumas Bancorp will post 4.75 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. De Lisle Partners LLP boosted its stake in Plumas Bancorp by 61.5% during the third quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider’s stock valued at $6,068,000 after buying an additional 57,051 shares during the period. Angel Oak Capital Advisors LLC bought a new stake in shares of Plumas Bancorp during the 4th quarter valued at about $1,026,000. Fourthstone LLC purchased a new position in shares of Plumas Bancorp during the third quarter worth about $521,000. The Manufacturers Life Insurance Company increased its position in shares of Plumas Bancorp by 5.8% in the third quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock worth $6,954,000 after purchasing an additional 9,328 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Plumas Bancorp by 5.2% in 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 last quarter. 41.68% of the stock is currently owned by hedge funds and other institutional investors.

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.