Raymond James Increases Plumas Bancorp (NASDAQ:PLBC) Price Target to $45.00

by · The Markets Daily

Plumas Bancorp (NASDAQ:PLBC – Free Report) had its price objective boosted by Raymond James from $43.00 to $45.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Plumas Bancorp Trading Up 3.2 %

PLBC stock opened at $39.64 on Wednesday. The stock has a market cap of $233.72 million, a PE ratio of 8.29 and a beta of 0.68. Plumas Bancorp has a 12 month low of $32.50 and a 12 month high of $45.00. The company has a 50-day moving average price of $40.03 and a 200 day moving average price of $37.29.

Plumas Bancorp (NASDAQ:PLBC – Get Free Report) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.05. Plumas Bancorp had a return on equity of 19.22% and a net margin of 32.14%. The business had revenue of $20.61 million during the quarter, compared to analyst estimates of $20.00 million. Sell-side analysts forecast that Plumas Bancorp will post 4.47 EPS for the current year.

Plumas Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.72%. The ex-dividend date was Thursday, August 1st. Plumas Bancorp’s dividend payout ratio is presently 22.59%.

Institutional Investors Weigh In On Plumas Bancorp

Several large investors have recently added to or reduced their stakes in PLBC. BNP Paribas Financial Markets raised its stake in shares of Plumas Bancorp by 55.8% during the fourth quarter. BNP Paribas Financial Markets now owns 8,714 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 3,121 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Plumas Bancorp by 15.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,247 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 433 shares during the period. Vanguard Group Inc. raised its position in Plumas Bancorp by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock valued at $10,310,000 after purchasing an additional 1,862 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of Plumas Bancorp in the 1st quarter worth $589,000. Finally, Bank of New York Mellon Corp grew its position in shares of Plumas Bancorp by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 29,394 shares of the financial services provider’s stock worth $1,058,000 after buying an additional 2,036 shares in the last quarter. 41.68% of the stock is owned by hedge funds and other institutional investors.

Plumas Bancorp Company Profile

(Get Free Report)

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.

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