Plumas Bancorp's (PLBC) Outperform Rating Reaffirmed at Raymond James

Raymond James reiterated their outperform rating on shares of Plumas Bancorp (NASDAQ:PLBC - Free Report) in a research report report published on Thursday morning,Benzinga reports. They currently have a $54.00 target price on the financial services provider's stock, up from their prior target price of $49.00.

Separately, Stephens initiated coverage on Plumas Bancorp in a research note on Wednesday, November 27th. They issued an "overweight" rating and a $60.00 price objective on the stock.

Plumas Bancorp Trading Up 0.8 %

Shares of PLBC stock traded up $0.38 during trading hours on Thursday, hitting $45.68. 6,326 shares of the company were exchanged, compared to its average volume of 11,660. The stock has a market capitalization of $269.51 million, a price-to-earnings ratio of 9.38 and a beta of 0.70. The firm has a fifty day simple moving average of $47.26 and a 200 day simple moving average of $43.39. Plumas Bancorp has a 52-week low of $32.50 and a 52-week high of $51.33.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.14. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. Sell-side analysts anticipate that Plumas Bancorp will post 4.55 EPS for the current year.

Plumas Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.30 per share. This is a boost from Plumas Bancorp's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.63%. Plumas Bancorp's payout ratio is presently 22.55%.

Hedge Funds Weigh In On Plumas Bancorp

Large investors have recently made changes to their positions in the stock. De Lisle Partners LLP lifted its holdings in Plumas Bancorp by 61.5% during the 3rd quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider's stock worth $6,068,000 after purchasing an additional 57,051 shares in the last quarter. Angel Oak Capital Advisors LLC bought a new stake in shares of Plumas Bancorp during the fourth quarter valued at about $1,026,000. Fourthstone LLC purchased a new stake in shares of Plumas Bancorp in the third quarter worth about $521,000. The Manufacturers Life Insurance Company boosted its position in shares of Plumas Bancorp by 5.8% in the third quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider's stock valued at $6,954,000 after acquiring an additional 9,328 shares during the period. Finally, Geode Capital Management LLC grew its stake in Plumas Bancorp by 5.2% during the third quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider's stock valued at $5,033,000 after acquiring an additional 6,075 shares in the last quarter. 41.68% of the stock is owned by institutional investors.

About Plumas Bancorp

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.