Plumas Bancorp (NASDAQ:PLBC) Raised to Buy at Wall Street Zen

Plumas Bancorp (NASDAQ:PLBC) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other analysts have also commented on PLBC. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plumas Bancorp in a report on Monday, December 29th. Piper Sandler dropped their price objective on shares of Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $55.50.

Plumas Bancorp Price Performance

PLBC stock opened at $50.11 on Friday. The company has a market capitalization of $348.77 million, a P/E ratio of 11.04 and a beta of 0.62. Plumas Bancorp has a 12 month low of $38.71 and a 12 month high of $52.01. The firm’s fifty day simple moving average is $45.52 and its 200-day simple moving average is $43.43.

Plumas Bancorp (NASDAQ:PLBC) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.19. The company had revenue of $28.58 million during the quarter, compared to the consensus estimate of $27.39 million. Plumas Bancorp had a net margin of 26.40% and a return on equity of 16.28%. As a group, sell-side analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current year.

Hedge Funds Weigh In On Plumas Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in PLBC. EverSource Wealth Advisors LLC grew its position in shares of Plumas Bancorp by 44,800.0% in the third quarter. EverSource Wealth Advisors LLC now owns 898 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 896 shares in the last quarter. CWM LLC boosted its stake in Plumas Bancorp by 408.9% during the third quarter. CWM LLC now owns 1,089 shares of the financial services provider’s stock worth $47,000 after buying an additional 875 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Plumas Bancorp by 33.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock valued at $53,000 after buying an additional 305 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Plumas Bancorp by 623.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 1,410 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Plumas Bancorp during the 1st quarter worth $78,000. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Plumas Bancorp Company Profile

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.