Plumas Bancorp (NASDAQ:PLBC) Rating Lowered to “Hold” at Wall Street Zen

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

Several other brokerages have also issued reports on PLBC. Weiss Ratings raised shares of Plumas Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, August 7th. Raymond James Financial reiterated an “outperform” rating and set a $66.00 target price on shares of Plumas Bancorp in a research report on Thursday, July 16th. Stephens upped their target price on shares of Plumas Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, Piper Sandler increased their price target on shares of Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $66.33.

Plumas Bancorp Stock Performance

Shares of PLBC stock traded up $0.64 during mid-day trading on Friday, reaching $61.83. The stock had a trading volume of 44,532 shares, compared to its average volume of 50,986. Plumas Bancorp has a one year low of $39.80 and a one year high of $64.00. The firm has a market cap of $430.34 million, a PE ratio of 12.17 and a beta of 0.60. The firm’s 50 day simple moving average is $60.44 and its 200 day simple moving average is $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.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data 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 business had revenue of $28.76 million for the quarter, compared to analysts’ expectations of $28.02 million. Plumas Bancorp had a return on equity of 15.41% and a net margin of 27.39%. On average, analysts forecast that Plumas Bancorp will post 5.71 EPS for the current year.

Insider Activity at Plumas Bancorp

In related news, EVP Kevin Craig Kaiser sold 1,200 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $61.50, for a total transaction of $73,800.00. Following the sale, the executive vice president directly owned 719 shares in the company, valued at $44,218.50. This represents a 62.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.40% of the stock is owned by insiders.

Institutional Trading of Plumas Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its holdings in Plumas Bancorp by 2.0% during the 4th 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 during the last quarter. BNP Paribas Financial Markets raised its stake 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 during the last quarter. Renaissance Technologies LLC lifted its position in shares of Plumas Bancorp by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 11,700 shares of the financial services provider’s stock worth $523,000 after purchasing an additional 395 shares in the last quarter. Bank of America Corp DE lifted 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 in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Plumas Bancorp during the second quarter valued at approximately $39,000. 41.68% of the stock is currently owned by institutional investors and hedge funds.

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.