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

Wall Street Zen lowered shares of Plumas Bancorp (NASDAQ:PLBC) from a buy rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

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

Plumas Bancorp Stock Up 0.6%

PLBC stock opened at $62.81 on Friday. The company has a market cap of $437.16 million, a price-to-earnings ratio of 10.70 and a beta of 0.52. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50-day moving average is $62.36 and its two-hundred day moving average is $56.40. Plumas Bancorp has a fifty-two week low of $41.30 and a fifty-two week high of $65.10.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.15. Plumas Bancorp had a return on equity of 15.82% and a net margin of 31.72%. The business had revenue of $29.33 million during the quarter, compared to the consensus estimate of $29.03 million. As a group, analysts forecast that Plumas Bancorp will post 5.92 earnings per share for the current year.

Plumas Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Tuesday, November 3rd will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.1%. Plumas Bancorp’s payout ratio is 22.15%.

Insider Transactions at Plumas Bancorp

In other Plumas Bancorp news, EVP Kevin Kaiser sold 1,200 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 719 shares in the company, valued at approximately $44,218.50. This trade represents a 62.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.40% of the company’s stock.

Institutional Trading of Plumas Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. bought a new stake in shares of Plumas Bancorp during the 3rd quarter valued at $567,000. Sterling Capital Management LLC lifted its stake in shares of Plumas Bancorp by 3,118.0% during the 3rd quarter. Sterling Capital Management LLC now owns 4,280 shares of the financial services provider’s stock valued at $262,000 after buying an additional 4,147 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Plumas Bancorp in the 2nd quarter worth $226,000. Engineers Gate Manager LP bought a new position in Plumas Bancorp in the 2nd quarter worth $228,000. Finally, Odyssean LLC bought a new position in Plumas Bancorp in the 2nd quarter worth $247,000. 41.68% of the stock is owned by hedge funds and other institutional investors.

About Plumas Bancorp

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.