Plumas Bancorp initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of Plumas Bancorp (PLBC) with an Overweight rating and $60 price target The firm cites the bank’s “heavily discounted” multiple, “top-tier” profitability outlook, “enviable” deposit profile, and less competitive acquisition strategy for the Overweight rating. The firm calls Plumas a “highly profitable, growth oriented franchise.”