Piper Sandler Initiates Coverage on Plumas Bancorp (NASDAQ:PLBC)

Piper Sandler initiated coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a research note issued on Thursday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $60.00 price target on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 36.09% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Raymond James restated an “outperform” rating and set a $54.00 target price (up from $49.00) on shares of Plumas Bancorp in a research report on Thursday, January 30th. Stephens started coverage on Plumas Bancorp in a report on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 price objective for the company.

Plumas Bancorp Stock Performance

Shares of PLBC stock opened at $44.09 on Thursday. Plumas Bancorp has a fifty-two week low of $32.50 and a fifty-two week high of $51.33. The firm has a market capitalization of $260.00 million, a PE ratio of 9.20 and a beta of 0.70. The stock’s 50-day simple moving average is $46.07 and its 200-day simple moving average is $44.00.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.14. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. Sell-side analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current year.

Insider Buying and Selling at Plumas Bancorp

In other Plumas Bancorp news, Director Michael Kevin Foster purchased 1,000 shares of the stock in a transaction on Thursday, February 20th. The shares were bought at an average price of $45.67 per share, for a total transaction of $45,670.00. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at $45,670. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 9.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Picton Mahoney Asset Management acquired a new stake in Plumas Bancorp in the 4th quarter valued at $32,000. Tower Research Capital LLC TRC grew its position in shares of Plumas Bancorp by 447.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,106 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 904 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Plumas Bancorp in the fourth quarter valued at about $105,000. Wells Fargo & Company MN increased its stake in shares of Plumas Bancorp by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 3,221 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 703 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Plumas Bancorp in the 4th quarter valued at about $222,000. 41.68% of the stock is owned by institutional investors and hedge funds.

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.