Plumas Bancorp's (PLBC) Outperform Rating Reiterated at Raymond James Financial

Raymond James Financial reaffirmed their outperform rating on shares of Plumas Bancorp (NASDAQ:PLBC - Free Report) in a research report report published on Tuesday,Benzinga reports. They currently have a $50.00 price target on the financial services provider's stock, up from their prior price target of $48.00.

Separately, Piper Sandler cut their price objective on Plumas Bancorp from $60.00 to $59.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th.

Plumas Bancorp Stock Performance

PLBC traded up $0.26 during mid-day trading on Tuesday, reaching $45.98. 10,839 shares of the stock were exchanged, compared to its average volume of 12,081. Plumas Bancorp has a 1 year low of $33.84 and a 1 year high of $51.33. The stock has a market capitalization of $272.66 million, a PE ratio of 9.31 and a beta of 0.61. The company has a 50 day moving average price of $44.01 and a two-hundred day moving average price of $44.21.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.13 by $0.07. Plumas Bancorp had a net margin of 31.18% and a return on equity of 16.58%. The firm had revenue of $21.50 million during the quarter, compared to analyst estimates of $20.62 million. During the same quarter last year, the business posted $1.05 EPS. Sell-side analysts expect that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

Plumas Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Thursday, May 1st. Plumas Bancorp's dividend payout ratio (DPR) is 24.29%.

Insider Activity at Plumas Bancorp

In other news, Director Michael Kevin Foster acquired 581 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average price of $43.99 per share, with a total value of $25,558.19. Following the acquisition, the director owned 1,581 shares in the company, valued at $69,548.19. The trade was a 58.10% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Plumas Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Picton Mahoney Asset Management purchased a new stake in shares of Plumas Bancorp during the 4th quarter valued at approximately $32,000. Abound Financial LLC purchased a new stake in shares of Plumas Bancorp during the first quarter worth $42,000. Tower Research Capital LLC TRC lifted its position in shares of Plumas Bancorp by 447.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,106 shares of the financial services provider's stock worth $52,000 after acquiring an additional 904 shares in the last quarter. Copeland Capital Management LLC purchased a new position in shares of Plumas Bancorp in the first quarter valued at $53,000. Finally, GAMMA Investing LLC raised its stake in shares of Plumas Bancorp by 4,382.1% during the 1st quarter. GAMMA Investing LLC now owns 1,255 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 1,227 shares during the period. Institutional investors 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.