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

Plumas Bancorp (NASDAQ:PLBC) had its target price lifted by equities research analysts at Raymond James from $43.00 to $45.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective indicates a potential upside of 17.19% from the company’s previous close.

Plumas Bancorp Trading Down 1.7 %

Shares of NASDAQ PLBC opened at $38.40 on Wednesday. The firm has a market capitalization of $226.56 million, a PE ratio of 8.03 and a beta of 0.68. Plumas Bancorp has a 1 year low of $32.50 and a 1 year high of $45.00. The firm’s 50-day moving average is $40.09 and its 200-day moving average is $37.24.

Plumas Bancorp (NASDAQ:PLBC) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that Plumas Bancorp will post 4.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its stake in Plumas Bancorp by 15.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,247 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 433 shares during the last quarter. Rhumbline Advisers lifted its stake in Plumas Bancorp by 4.9% in the second quarter. Rhumbline Advisers now owns 6,247 shares of the financial services provider’s stock valued at $225,000 after buying an additional 290 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Plumas Bancorp by 55.8% in the fourth quarter. BNP Paribas Financial Markets now owns 8,714 shares of the financial services provider’s stock valued at $360,000 after buying an additional 3,121 shares in the last quarter. Kennedy Capital Management LLC bought a new position in Plumas Bancorp in the first quarter valued at approximately $589,000. Finally, Bank of New York Mellon Corp lifted its stake in Plumas Bancorp by 7.4% in the second 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 buying an additional 2,036 shares in the last quarter. Institutional investors own 41.68% of the company’s stock.

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.