Plumas Bancorp (NASDAQ:PLBC) Receives "Outperform" Rating from Raymond James Financial

Raymond James Financial reaffirmed their outperform rating on shares of Plumas Bancorp (NASDAQ:PLBC - Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $50.00 price objective on the financial services provider's stock, up from their prior price objective of $48.00.

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

Plumas Bancorp Stock Down 0.1%

Shares of PLBC stock traded down $0.05 during trading hours on Tuesday, hitting $46.05. 6,833 shares of the company's stock were exchanged, compared to its average volume of 12,104. The firm has a market cap of $273.08 million, a P/E ratio of 9.32 and a beta of 0.61. The firm has a 50 day moving average of $44.10 and a two-hundred day moving average of $44.21. Plumas Bancorp has a fifty-two week low of $35.16 and a fifty-two week high of $51.33.

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 return on equity of 16.58% and a net margin of 31.18%. The firm had revenue of $21.50 million during the quarter, compared to the consensus estimate of $20.62 million. During the same period in the prior year, the company earned $1.05 EPS. On average, equities analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Announces Dividend

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

Insider Buying and Selling at Plumas Bancorp

In other Plumas Bancorp news, Director Michael Kevin Foster purchased 581 shares of the stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average cost of $43.99 per share, for a total transaction of $25,558.19. Following the acquisition, the director owned 1,581 shares in the company, valued at $69,548.19. This trade represents a 58.10% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.70% of the company's stock.

Hedge Funds Weigh In On Plumas Bancorp

Hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Plumas Bancorp by 3.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,014 shares of the financial services provider's stock worth $563,000 after purchasing an additional 386 shares during the period. Albert D Mason Inc. boosted its holdings in Plumas Bancorp by 354.3% during 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 acquiring an additional 26,500 shares during the period. Citadel Advisors LLC boosted its holdings in Plumas Bancorp by 64.1% during the 4th quarter. Citadel Advisors LLC now owns 9,187 shares of the financial services provider's stock valued at $434,000 after acquiring an additional 3,587 shares during the period. Renaissance Technologies LLC boosted its holdings in Plumas Bancorp by 42.8% during the 4th quarter. Renaissance Technologies LLC now owns 18,999 shares of the financial services provider's stock valued at $898,000 after acquiring an additional 5,699 shares during the period. Finally, Putney Financial Group LLC purchased a new position in Plumas Bancorp during the 4th quarter valued at about $571,000. 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.