Plumas Bancorp (NASDAQ:PLBC) Price Target Cut to $59.00 by Analysts at Piper Sandler

Plumas Bancorp (NASDAQ:PLBC) had its target price decreased by stock analysts at Piper Sandler from $61.00 to $59.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price points to a potential upside of 20.26% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. Wall Street Zen cut shares of Plumas Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Plumas Bancorp in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $54.50.

Plumas Bancorp Price Performance

Plumas Bancorp stock opened at $49.06 on Thursday. The business’s 50-day simple moving average is $50.49 and its 200 day simple moving average is $45.87. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.08. The stock has a market cap of $342.44 million, a price-to-earnings ratio of 10.85 and a beta of 0.59. Plumas Bancorp has a 12-month low of $38.71 and a 12-month high of $54.58.

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

Insider Buying and Selling at Plumas Bancorp

In other news, Director Kenneth Edward Robison III sold 800 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $52.76, for a total transaction of $42,208.00. Following the transaction, the director owned 1,875 shares in the company, valued at approximately $98,925. This trade 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 accessible through this link. 7.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Plumas Bancorp

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in shares of Plumas Bancorp by 2.0% in the fourth quarter. AQR Capital Management LLC now owns 11,684 shares of the financial services provider’s stock valued at $522,000 after buying an additional 226 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Plumas Bancorp by 33.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 305 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Plumas Bancorp by 3.5% in the 4th quarter. Renaissance Technologies LLC now owns 11,700 shares of the financial services provider’s stock valued at $523,000 after acquiring an additional 395 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Plumas Bancorp by 3.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,674 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 459 shares during the last quarter. Finally, Caldwell Sutter Capital Inc. increased its holdings in Plumas Bancorp by 0.6% in the 4th quarter. Caldwell Sutter Capital Inc. now owns 106,283 shares of the financial services provider’s stock worth $4,750,000 after purchasing an additional 599 shares in the last quarter. 41.68% of the stock is owned by institutional investors.

About Plumas Bancorp

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.