Plumas Bancorp (NASDAQ:PLBC) Given New $45.00 Price Target at Raymond James

Plumas Bancorp (NASDAQ:PLBC) had its price objective upped by research analysts at Raymond James from $43.00 to $45.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective suggests a potential upside of 11.91% from the stock’s current price.

Plumas Bancorp Trading Down 1.2 %

Shares of NASDAQ:PLBC traded down $0.49 during trading on Wednesday, hitting $40.21. 6,493 shares of the stock were exchanged, compared to its average volume of 8,517. Plumas Bancorp has a 12-month low of $32.50 and a 12-month high of $45.00. The company has a fifty day moving average price of $40.23 and a two-hundred day moving average price of $37.22. The company has a market cap of $237.08 million, a PE ratio of 8.35 and a beta of 0.68.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.05. The company had revenue of $20.61 million during the quarter, compared to the consensus estimate of $20.00 million. Plumas Bancorp had a return on equity of 19.22% and a net margin of 32.14%. Equities research analysts anticipate that Plumas Bancorp will post 4.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plumas Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Plumas Bancorp by 0.7% in the first quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock valued at $10,310,000 after purchasing an additional 1,862 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Plumas Bancorp by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock valued at $2,847,000 after acquiring an additional 4,838 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new position in Plumas Bancorp in the second quarter valued at about $1,247,000. Bank of New York Mellon Corp raised its stake in shares of Plumas Bancorp by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 29,394 shares of the financial services provider’s stock worth $1,058,000 after buying an additional 2,036 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in Plumas Bancorp in the first quarter valued at approximately $589,000. 41.68% of the stock is owned by hedge funds and other 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.