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

Plumas Bancorp (NASDAQ:PLBCFree Report) had its price target hoisted by Raymond James from $43.00 to $45.00 in a research note released on Wednesday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Plumas Bancorp Stock Up 3.2 %

PLBC stock opened at $39.64 on Wednesday. The firm’s fifty day simple moving average is $40.03 and its two-hundred day simple moving average is $37.28. The stock has a market capitalization of $233.72 million, a price-to-earnings ratio of 8.29 and a beta of 0.68. Plumas Bancorp has a twelve month low of $32.50 and a twelve month high of $45.00.

Plumas Bancorp (NASDAQ:PLBCGet Free Report) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. Plumas Bancorp had a net margin of 32.14% and a return on equity of 19.22%. The company had revenue of $20.61 million for the quarter, compared to analyst estimates of $20.00 million. As a group, equities research analysts expect that Plumas Bancorp will post 4.47 EPS for the current year.

Plumas Bancorp Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PLBC. BNP Paribas Financial Markets grew its holdings in Plumas Bancorp by 55.8% during the 4th quarter. BNP Paribas Financial Markets now owns 8,714 shares of the financial services provider’s stock worth $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 first quarter. Benjamin F. Edwards & Company Inc. now owns 3,247 shares of the financial services provider’s stock valued at $119,000 after buying an additional 433 shares during the period. Vanguard Group Inc. raised its stake in Plumas Bancorp by 0.7% in the first quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock worth $10,310,000 after buying an additional 1,862 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in Plumas Bancorp during the first quarter worth $589,000. Finally, Bank of New York Mellon Corp boosted its position in 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 valued at $1,058,000 after acquiring an additional 2,036 shares in the last quarter. Institutional investors own 41.68% of the company’s stock.

About Plumas Bancorp

(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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