Weiss Ratings Reiterates “Buy (B-)” Rating for Plumas Bancorp (NASDAQ:PLBC)

by · The Cerbat Gem

Plumas Bancorp (NASDAQ:PLBC – Get Free Report)‘s stock had its “buy (b-)” rating reaffirmed by analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Several other research firms have also commented on PLBC. Raymond James Financial reiterated an “outperform” rating and set a $50.00 price objective (up previously from $48.00) on shares of Plumas Bancorp in a research report on Tuesday, July 8th. Piper Sandler lowered their target price on shares of Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Plumas Bancorp presently has an average rating of “Buy” and an average price target of $57.00.

View Our Latest Stock Report on PLBC

Plumas Bancorp Stock Down 0.3%

PLBC stock opened at $41.04 on Friday. Plumas Bancorp has a 52 week low of $38.71 and a 52 week high of $51.33. The company has a fifty day simple moving average of $42.84 and a two-hundred day simple moving average of $43.04. The firm has a market capitalization of $285.10 million, a P/E ratio of 9.61 and a beta of 0.68.

Plumas Bancorp (NASDAQ:PLBC – Get Free Report) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $0.66 by $0.69. Plumas Bancorp had a net margin of 25.80% and a return on equity of 16.52%. The business had revenue of $27.42 million during the quarter, compared to analyst estimates of $28.07 million. As a group, analysts anticipate that Plumas Bancorp will post 4.51 EPS for the current year.

Insider Buying and Selling

In related news, EVP Aaron M. Boigon sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $41.09, for a total value of $61,635.00. Following the transaction, the executive vice president owned 4,100 shares of the company’s stock, valued at $168,469. This trade represents a 26.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new position in Plumas Bancorp in the 1st quarter worth about $103,720,000. The Manufacturers Life Insurance Company increased its stake in Plumas Bancorp by 3.8% in 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 period. De Lisle Partners LLP increased its stake in Plumas Bancorp by 1.2% in the 2nd quarter. De Lisle Partners LLP now owns 166,818 shares of the financial services provider’s stock worth $7,429,000 after buying an additional 2,000 shares during the period. Caldwell Sutter Capital Inc. increased its stake in Plumas Bancorp by 13,110.5% in the 3rd quarter. Caldwell Sutter Capital Inc. now owns 105,684 shares of the financial services provider’s stock worth $4,559,000 after buying an additional 104,884 shares during the period. Finally, Elizabeth Park Capital Advisors Ltd. increased its stake in Plumas Bancorp by 5.9% in the 1st quarter. Elizabeth Park Capital Advisors Ltd. now owns 53,778 shares of the financial services provider’s stock worth $2,327,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Plumas Bancorp Company Profile

(Get Free Report)

Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.

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