Plumas Bancorp (NASDAQ:PLBC) Downgraded by Wall Street Zen to Hold

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

A number of other analysts have also commented on the stock. Piper Sandler lifted their target price on shares of Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Raymond James Financial restated an “outperform” rating and issued a $66.00 price target on shares of Plumas Bancorp in a research report on Thursday, July 16th. Weiss Ratings raised Plumas Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, August 7th. Finally, Stephens upped their price objective on Plumas Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Plumas Bancorp presently has a consensus rating of “Buy” and a consensus target price of $66.33.

Plumas Bancorp Trading Up 1.0%

PLBC stock traded up $0.64 during midday trading on Friday, reaching $61.83. The stock had a trading volume of 44,532 shares, compared to its average volume of 50,986. The business has a fifty day simple moving average of $60.44 and a two-hundred day simple moving average of $54.68. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06. The firm has a market cap of $430.34 million, a price-to-earnings ratio of 12.17 and a beta of 0.60. Plumas Bancorp has a twelve month low of $39.80 and a twelve month high of $64.00.

Plumas Bancorp (NASDAQ:PLBC) last released its earnings results on Wednesday, July 15th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.04. The company had revenue of $28.76 million for the quarter, compared to the consensus estimate of $28.02 million. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.41%. As a group, research analysts expect that Plumas Bancorp will post 5.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kevin Craig Kaiser sold 1,200 shares of Plumas Bancorp stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $61.50, for a total transaction of $73,800.00. Following the transaction, the executive vice president directly owned 719 shares of the company’s stock, valued at $44,218.50. This trade represents a 62.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.40% of the company’s stock.

Institutional Trading of Plumas Bancorp

Several hedge funds have recently added to or reduced their stakes in PLBC. AQR Capital Management LLC lifted its holdings in Plumas Bancorp by 2.0% during the fourth quarter. AQR Capital Management LLC now owns 11,684 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 226 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Plumas Bancorp by 33.1% in the third quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 305 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Plumas Bancorp by 3.5% in the fourth quarter. Renaissance Technologies LLC now owns 11,700 shares of the financial services provider’s stock worth $523,000 after acquiring an additional 395 shares in the last quarter. Bank of America Corp DE raised its position in shares of Plumas Bancorp by 12.6% during the first quarter. Bank of America Corp DE now owns 5,828 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 650 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of Plumas Bancorp during the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 41.68% of the company’s stock.

About Plumas Bancorp

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.