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

by · The Cerbat Gem

Plumas Bancorp (NASDAQ:PLBC – Get Free Report) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on the company. Weiss Ratings upgraded Plumas Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Plumas Bancorp in a research report on Wednesday. The Goldman Sachs Group set a $70.00 target price on Plumas Bancorp in a research note on Wednesday. Piper Sandler lifted their target price on Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Stephens boosted 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. Four analysts have rated the stock with a Buy rating. According to MarketBeat, Plumas Bancorp presently has a consensus rating of “Buy” and an average price target of $68.25.

Read Our Latest Report on PLBC

Plumas Bancorp Price Performance

Shares of NASDAQ:PLBC opened at $63.20 on Friday. Plumas Bancorp has a 1 year low of $39.80 and a 1 year high of $64.30. The business has a 50 day simple moving average of $62.01 and a two-hundred day simple moving average of $58.05. The firm has a market capitalization of $439.87 million, a PE ratio of 10.60 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.

Plumas Bancorp (NASDAQ:PLBC – Get Free Report) last released its earnings results on Wednesday, October 21st. The financial services provider reported $1.61 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 firm had revenue of $29.33 million for the quarter, compared to analysts’ expectations of $29.03 million. On average, equities analysts predict that Plumas Bancorp will post 5.92 EPS for the current year.

Insider Transactions at Plumas Bancorp

In related news, EVP Kevin 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 value of $73,800.00. Following the transaction, the executive vice president owned 719 shares of the company’s stock, valued at $44,218.50. This 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 the SEC website. 7.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plumas Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of PLBC. Legal & General Group Plc purchased a new stake in shares of Plumas Bancorp in the 2nd quarter worth $39,000. Blue Trust Inc. purchased a new position in shares of Plumas Bancorp during the first quarter valued at $40,000. Public Employees Retirement System of Ohio purchased a new position in shares of Plumas Bancorp during the second quarter valued at $88,000. Simplicity Wealth LLC purchased a new position in shares of Plumas Bancorp during the second quarter valued at $204,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Plumas Bancorp in the second quarter valued at about $226,000. 41.68% of the stock is owned by institutional investors.

More Plumas Bancorp News

Here are the key news stories impacting Plumas Bancorp this week:

  • Positive Sentiment: Third-quarter earnings exceeded expectations. Plumas Bancorp reported adjusted earnings of $1.61 per share, above the $1.46 analyst consensus, while revenue of $29.33 million also topped estimates of $29.03 million. Net income reportedly more than doubled, highlighting strong profitability and helping support the investment case. Plumas Bancorp Q3 Earnings
  • Positive Sentiment: The company declared a $0.33 quarterly dividend. The payment is scheduled for November 17 to shareholders of record on November 3. The dividend represents $1.32 annually and a yield of approximately 2.1%, providing ongoing income support for shareholders. Plumas Bancorp Quarterly Dividend
  • Neutral Sentiment: Plumas Bancorp is changing chief financial officers. Kelsey Cassinelli will succeed longtime CFO Richard Belstock, who is retiring from the role but will remain with Plumas Bank as special assistant to the president. The planned transition may limit disruption because of Belstock’s continued involvement, though investors may watch for updates on financial reporting and execution under the new CFO. Plumas Bancorp CFO Transition

About Plumas Bancorp

(Get Free Report)

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.

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