Plumas Bancorp price target raised to $54 from $49 at Raymond James

Raymond James raised the firm’s price target on Plumas Bancorp (PLBC) to $54 from $49 and keeps an Outperform rating on the shares. The acquisition of Cornerstone Community Bancorp, the holding company of Cornerstone Community Bank, marks Plumas Bancorp’s first deal since 2021, and is the largest transaction it’s entered, the analyst tells investors in a research note. The firm views the deal positively, and believe the fundamental outlook for Plumas remains favorable in light of its strong low-cost core deposit franchise, premium profitability, and and strong operating performance.