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

Plumas Bancorp (NASDAQ:PLBC) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also recently commented on the stock. Stephens upped their target price on shares of Plumas Bancorp from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Piper Sandler upped their target price on shares of Plumas Bancorp from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Plumas Bancorp in a research report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $57.67.

Plumas Bancorp Price Performance

NASDAQ:PLBC opened at $52.03 on Friday. The stock’s fifty day moving average price is $50.29 and its two-hundred day moving average price is $47.31. The company has a market cap of $362.65 million, a price-to-earnings ratio of 11.02 and a beta of 0.61. Plumas Bancorp has a 52-week low of $39.70 and a 52-week high of $54.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.85 and a current ratio of 0.85.

Plumas Bancorp (NASDAQ:PLBC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.31 by $0.07. The company 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%. On average, analysts anticipate that Plumas Bancorp will post 5.64 EPS for the current year.

Insider Transactions at Plumas Bancorp

In other Plumas Bancorp news, Director Kenneth Edward Robison III sold 800 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $52.76, for a total transaction of $42,208.00. Following the completion of the transaction, the director owned 1,875 shares in the company, valued at approximately $98,925. This represents a 29.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Plumas Bancorp

A number of large investors have recently modified their holdings of PLBC. Jane Street Group LLC acquired a new position in shares of Plumas Bancorp during the 1st quarter worth about $255,000. Acadian Asset Management LLC acquired a new position in shares of Plumas Bancorp during the 1st quarter worth about $78,000. The Manufacturers Life Insurance Company boosted its stake in shares of Plumas Bancorp by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 180,291 shares of the financial services provider’s stock worth $8,016,000 after buying an additional 6,637 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Plumas Bancorp by 623.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock worth $73,000 after buying an additional 1,410 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Plumas Bancorp by 408.9% during the 3rd quarter. CWM LLC now owns 1,089 shares of the financial services provider’s stock worth $47,000 after buying an additional 875 shares during the last quarter. 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.