Piper Sandler Has Lowered Expectations for Plumas Bancorp (NASDAQ:PLBC) Stock Price

Plumas Bancorp (NASDAQ:PLBC) had its target price dropped by equities researchers at Piper Sandler from $61.00 to $59.00 in a report released 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 19.43% from the company’s previous close.

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

Plumas Bancorp Stock Performance

NASDAQ:PLBC opened at $49.40 on Thursday. The company’s 50-day moving average price is $50.47 and its 200-day moving average price is $45.93. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.08. The company has a market cap of $344.81 million, a P/E ratio of 10.88 and a beta of 0.59. Plumas Bancorp has a twelve month low of $38.71 and a twelve month high of $54.58.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.19. The company had revenue of $20.99 million during the quarter, compared to analysts’ expectations of $27.39 million. Plumas Bancorp had a net margin of 26.40% and a return on equity of 15.32%. On average, sell-side analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Plumas Bancorp news, Director Kenneth Edward Robison III sold 800 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $52.76, for a total transaction of $42,208.00. Following the sale, the director directly owned 1,875 shares in the company, valued at $98,925. This 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 available at the SEC website. 7.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PLBC. Caldwell Sutter Capital Inc. lifted its holdings in Plumas Bancorp by 13,110.5% during the 3rd quarter. Caldwell Sutter Capital Inc. now owns 105,684 shares of the financial services provider’s stock worth $4,559,000 after buying an additional 104,884 shares in the last quarter. Siena Capital Partners GP LLC grew its stake in shares of Plumas Bancorp by 30.5% in the third quarter. Siena Capital Partners GP LLC now owns 286,752 shares of the financial services provider’s stock worth $12,370,000 after acquiring an additional 66,950 shares in the last quarter. Fourthstone LLC grew its stake in shares of Plumas Bancorp by 125.9% in the fourth quarter. Fourthstone LLC now owns 102,585 shares of the financial services provider’s stock worth $4,585,000 after acquiring an additional 57,167 shares in the last quarter. Punch & Associates Investment Management Inc. increased its position in shares of Plumas Bancorp by 42.3% during the third quarter. Punch & Associates Investment Management Inc. now owns 62,535 shares of the financial services provider’s stock worth $2,698,000 after acquiring an additional 18,595 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Plumas Bancorp by 5.2% during the third quarter. Vanguard Group Inc. now owns 306,458 shares of the financial services provider’s stock worth $13,221,000 after acquiring an additional 15,080 shares during the period. Institutional investors and hedge funds own 41.68% of the company’s stock.

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.