Plumas Bancorp rises after Stephens starts coverage with 'overweight' rating

Plumas Bancorp

27/11/2024 17:52

** Shares of community lender Plumas Bancorp  PLBC.O  rise
as much as 3.6%; last up 3.2% at $49.54
    ** Stephens initiates coverage of PLBC with an "overweight"
rating and a $60 PT, a 25% upside to stock's last close
    ** Brokerage believes PLBC is one of the highest quality
small cap bank franchises in the country
    ** Adds that one of the most unique aspects of PLBC is the
bank's best-in-class deposits
    ** Stephens sees no reason why shares shouldn't trade at a
more notable valuation given PLBC touts one of the most
impressive deposit franchises and profitability profiles in the
country
    ** All two brokerages rate the stock "buy" or higher; median
PT is $52.50 — LSEG
    ** As of last close, PLBC shares up 16.1% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))