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

Plumas Bancorp (NASDAQ:PLBC) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

A number of other equities research analysts also recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Plumas Bancorp in a research report on Monday, April 27th. Piper Sandler increased their price target on Plumas Bancorp from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Finally, Stephens raised their price target on Plumas Bancorp from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $61.50.

Plumas Bancorp Stock Performance

Shares of NASDAQ PLBC traded up $0.39 during trading on Friday, reaching $58.24. 37,888 shares of the company traded hands, compared to its average volume of 67,424. The firm has a 50 day simple moving average of $54.68 and a 200-day simple moving average of $51.20. Plumas Bancorp has a 52-week low of $39.70 and a 52-week high of $60.47. The stock has a market capitalization of $405.82 million, a PE ratio of 12.34 and a beta of 0.59. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07. The firm had revenue of $28.14 million during the quarter, compared to analysts’ expectations of $27.24 million. Plumas Bancorp had a net margin of 26.67% and a return on equity of 15.16%. Equities research analysts anticipate that Plumas Bancorp will post 5.64 earnings per share for the current year.

Institutional Investors Weigh In On Plumas Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of PLBC. AQR Capital Management LLC increased its holdings in shares of Plumas Bancorp by 2.0% in the fourth quarter. AQR Capital Management LLC now owns 11,684 shares of the financial services provider’s stock worth $522,000 after purchasing an additional 226 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Plumas Bancorp by 33.1% during the third 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 during the last quarter. Renaissance Technologies LLC boosted its stake in Plumas Bancorp by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 11,700 shares of the financial services provider’s stock valued at $523,000 after buying an additional 395 shares during the last quarter. Caldwell Sutter Capital Inc. grew its holdings in Plumas Bancorp by 0.6% during the 4th quarter. Caldwell Sutter Capital Inc. now owns 106,283 shares of the financial services provider’s stock valued at $4,750,000 after buying an additional 599 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Plumas Bancorp by 12.6% during the 1st quarter. Bank of America Corp DE now owns 5,828 shares of the financial services provider’s stock valued at $285,000 after buying an additional 650 shares in the last quarter. 41.68% of the stock is owned by institutional investors.

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.