Plumas Bancorp (NASDAQ:PLBC) Stock Gets Downgrade from Wall Street Zen

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

Other equities research analysts have also issued research reports about the stock. Raymond James Financial restated an “outperform” rating and issued a $70.00 target price on shares of Plumas Bancorp in a report on Wednesday, October 21st. Weiss Ratings downgraded shares of Plumas Bancorp from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 23rd. Piper Sandler increased their price objective 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. The Goldman Sachs Group set a $70.00 price objective on shares of Plumas Bancorp in a research report on Wednesday, October 21st. Finally, Stephens raised their price objective on shares of Plumas Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $68.25.

Plumas Bancorp Price Performance

Shares of PLBC opened at $62.46 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average of $62.34 and a 200 day moving average of $56.34. The company has a market cap of $433.47 million, a PE ratio of 10.48 and a beta of 0.52. Plumas Bancorp has a 52-week low of $41.24 and a 52-week high of $65.10.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.15. Plumas Bancorp had a net margin of 31.72% and a return on equity of 15.87%. The business had revenue of $29.33 million for the quarter, compared to analysts’ expectations of $29.03 million. On average, sell-side analysts expect that Plumas Bancorp will post 5.92 EPS for the current year.

Insider Buying and Selling at Plumas Bancorp

In related news, EVP Kevin Kaiser sold 1,200 shares of the firm’s stock in a transaction dated 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 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 Securities & Exchange Commission, which is available through this link. 7.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Plumas Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. bought a new position in shares of Plumas Bancorp during the 3rd quarter worth approximately $567,000. Sterling Capital Management LLC lifted its position in Plumas Bancorp by 3,118.0% during the third quarter. Sterling Capital Management LLC now owns 4,280 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 4,147 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Plumas Bancorp in the second quarter valued at approximately $226,000. Engineers Gate Manager LP acquired a new stake in Plumas Bancorp in the second quarter valued at approximately $228,000. Finally, Odyssean LLC purchased a new position in Plumas Bancorp in the second quarter worth $247,000. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Plumas Bancorp Company Profile

Plumas Bancorp is the bank holding company for Plumas Bank, a community bank headquartered in Reno, Nevada. Plumas Bank was founded in 1980 in Quincy, California, and serves individuals, families, businesses and organizations through banking offices and digital banking services.

The bank provides a range of financial products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing, business loans, agricultural lending and lines of credit.