Piper Sandler Cuts Plumas Bancorp (NASDAQ:PLBC) Price Target to $64.00

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) had its price objective decreased by equities research analysts at Piper Sandler from $65.00 to $64.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price objective would indicate a potential upside of 52.42% from the stock's previous close.

Separately, Raymond James Financial reissued an "outperform" rating and issued a $50.00 price target (up from $48.00) on shares of Plumas Bancorp in a research note on Tuesday, July 8th.

Plumas Bancorp Price Performance

PLBC traded down $1.18 on Thursday, reaching $41.99. 22,438 shares of the company's stock were exchanged, compared to its average volume of 12,179. The stock has a market cap of $249.00 million, a PE ratio of 8.66 and a beta of 0.61. The stock's fifty day moving average price is $44.16 and its 200-day moving average price is $44.09. Plumas Bancorp has a twelve month low of $35.76 and a twelve month high of $51.33.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.15). The firm had revenue of $20.54 million during the quarter, compared to analyst estimates of $21.00 million. Plumas Bancorp had a net margin of 30.81% and a return on equity of 15.94%. During the same quarter in the previous year, the firm earned $1.14 earnings per share. As a group, research analysts predict that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Michael Kevin Foster bought 581 shares of the stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average price 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 approximately $69,548.19. This represents a 58.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.70% of the company's stock.

Institutional Trading of Plumas Bancorp

A number of large investors have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new stake in Plumas Bancorp during the 1st quarter worth $78,000. Jane Street Group LLC acquired a new stake in Plumas Bancorp during the 1st quarter worth $255,000. Elizabeth Park Capital Advisors Ltd. boosted its stake in Plumas Bancorp by 5.9% during the 1st quarter. Elizabeth Park Capital Advisors Ltd. now owns 53,778 shares of the financial services provider's stock worth $2,327,000 after purchasing an additional 3,000 shares during the period. Nuveen LLC acquired a new stake in Plumas Bancorp during the 1st quarter worth $103,720,000. Finally, De Lisle Partners LLP boosted its stake in Plumas Bancorp by 1.7% during the 1st quarter. De Lisle Partners LLP now owns 164,818 shares of the financial services provider's stock worth $7,183,000 after purchasing an additional 2,825 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.