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

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) had its target price dropped by equities researchers at Piper Sandler from $65.00 to $64.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Piper Sandler's target price would suggest a potential upside of 52.06% from the company's current price.

Separately, Raymond James Financial reiterated an "outperform" rating and issued a $50.00 price objective (up previously from $48.00) on shares of Plumas Bancorp in a report on Tuesday, July 8th.

Plumas Bancorp Trading Up 0.2%

Plumas Bancorp stock traded up $0.10 during trading hours on Thursday, reaching $42.09. 13,778 shares of the stock were exchanged, compared to its average volume of 12,232. The company has a market cap of $249.59 million, a P/E ratio of 8.68 and a beta of 0.61. Plumas Bancorp has a twelve month low of $35.76 and a twelve month high of $51.33. The stock has a 50 day moving average of $44.13 and a two-hundred day moving average of $44.02.

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

Insider Buying and Selling at Plumas Bancorp

In related news, Director Michael Kevin Foster purchased 581 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average cost of $43.99 per share, with a total value of $25,558.19. Following the acquisition, the director owned 1,581 shares of the company's stock, valued at $69,548.19. This represents a 58.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.00% of the company's stock.

Institutional Investors Weigh In On Plumas Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen LLC bought a new position in shares of Plumas Bancorp in the first quarter worth approximately $103,720,000. Albert D Mason Inc. increased its position in shares of Plumas Bancorp by 354.3% in the first quarter. Albert D Mason Inc. now owns 33,979 shares of the financial services provider's stock worth $1,470,000 after purchasing an additional 26,500 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Plumas Bancorp in the fourth quarter worth approximately $899,000. Elizabeth Park Capital Advisors Ltd. increased its position in shares of Plumas Bancorp by 46.5% in the fourth quarter. Elizabeth Park Capital Advisors Ltd. now owns 50,778 shares of the financial services provider's stock worth $2,400,000 after purchasing an additional 16,110 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Plumas Bancorp by 185.4% in the fourth quarter. JPMorgan Chase & Co. now owns 21,750 shares of the financial services provider's stock worth $1,028,000 after purchasing an additional 14,128 shares during the last quarter. 41.68% of the stock is currently owned by institutional investors.

Plumas Bancorp Company Profile

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.