Plumas Bancorp (NASDAQ:PLBC) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Plumas Bancorp (NASDAQ:PLBC) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

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

Plumas Bancorp Trading Down 1.0%

PLBC opened at $61.23 on Friday. Plumas Bancorp has a fifty-two week low of $39.80 and a fifty-two week high of $64.00. The company has a market cap of $426.16 million, a price-to-earnings ratio of 12.05 and a beta of 0.59. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $60.55 and a 200 day simple moving average of $54.76.

Plumas Bancorp (NASDAQ:PLBC) last released its earnings results on Wednesday, July 15th. The financial services provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.04. The firm had revenue of $28.76 million during the quarter, compared to analyst estimates of $28.02 million. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.41%. On average, sell-side analysts anticipate that Plumas Bancorp will post 5.71 earnings per share for the current year.

Plumas Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.2%. Plumas Bancorp’s dividend payout ratio (DPR) is currently 25.98%.

Insider Buying and Selling at Plumas Bancorp

In related news, EVP Kevin Craig Kaiser sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $61.50, for a total value of $73,800.00. Following the completion of the transaction, the executive vice president directly owned 719 shares in the company, valued at approximately $44,218.50. The trade was a 62.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in shares of 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 during the period. BNP Paribas Financial Markets lifted 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 valued at $53,000 after purchasing an additional 305 shares in the last quarter. Renaissance Technologies LLC boosted 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 buying an additional 395 shares during the period. Bank of America Corp DE grew its holdings 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 buying an additional 650 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Plumas Bancorp in the 2nd quarter valued at approximately $39,000. 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.