Plumas Bancorp (NASDAQ:PLBC) Price Target Lowered to $59.00 at Piper Sandler

Plumas Bancorp (NASDAQ:PLBC) had its target price decreased by Piper Sandler from $61.00 to $59.00 in a research note released on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

PLBC has been the subject of a number of other reports. Wall Street Zen downgraded Plumas Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Plumas Bancorp in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $54.50.

Plumas Bancorp Stock Up 0.3%

Shares of NASDAQ PLBC opened at $49.40 on Thursday. The stock has a market cap of $344.81 million, a PE ratio of 10.88 and a beta of 0.59. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.08. Plumas Bancorp has a 12-month low of $38.71 and a 12-month high of $54.58. The company has a 50-day moving average of $50.48 and a 200 day moving average of $45.89.

Plumas Bancorp (NASDAQ:PLBC) last released its earnings results on Wednesday, January 21st. The financial services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.19. The business had revenue of $20.99 million for the quarter, compared to analyst estimates of $27.39 million. Plumas Bancorp had a net margin of 26.40% and a return on equity of 15.32%. As a group, sell-side analysts predict that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

Plumas Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were issued a dividend of $0.33 per share. This is a positive change from Plumas Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 4th. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. Plumas Bancorp’s dividend payout ratio (DPR) is 29.07%.

Insiders Place Their Bets

In other Plumas Bancorp news, Director Kenneth Edward Robison III sold 800 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $52.76, for a total transaction of $42,208.00. Following the sale, the director directly owned 1,875 shares in the company, valued at $98,925. This represents a 29.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Caldwell Sutter Capital Inc. lifted its holdings in Plumas Bancorp by 13,110.5% during the 3rd quarter. Caldwell Sutter Capital Inc. now owns 105,684 shares of the financial services provider’s stock worth $4,559,000 after buying an additional 104,884 shares in the last quarter. Siena Capital Partners GP LLC grew its stake in shares of Plumas Bancorp by 30.5% in the third quarter. Siena Capital Partners GP LLC now owns 286,752 shares of the financial services provider’s stock worth $12,370,000 after acquiring an additional 66,950 shares in the last quarter. Albert D Mason Inc. grew its stake in shares of Plumas Bancorp by 41.7% in the third quarter. Albert D Mason Inc. now owns 44,778 shares of the financial services provider’s stock worth $1,932,000 after acquiring an additional 13,185 shares in the last quarter. Fourthstone LLC purchased a new stake in shares of Plumas Bancorp during the second quarter worth $1,277,000. Finally, Kennedy Capital Management LLC increased its position in shares of Plumas Bancorp by 42.7% during the second quarter. Kennedy Capital Management LLC now owns 27,423 shares of the financial services provider’s stock worth $1,219,000 after acquiring an additional 8,204 shares during the period. Institutional investors and hedge funds own 41.68% of the company’s stock.

Plumas Bancorp Company Profile

Plumas Bancorp (NASDAQ:PLBC) is a bank holding company headquartered in Quincy, California, and the parent of Plumas Bank. The company focuses on community banking, delivering personalized financial solutions to individuals, families, small businesses and agricultural clients. Through its subsidiary, Plumas Bank offers a comprehensive range of deposit and lending products designed to meet the unique needs of customers in Northern California’s rural and semi-rural markets.

Plumas Bank’s product lineup includes checking and savings accounts, money market funds and certificates of deposit, alongside a variety of consumer lending options such as residential mortgages, home equity lines of credit and installment loans.