Plumas Bancorp (NASDAQ:PLBC) Cut to Hold at Wall Street Zen
by Doug Wharley · The Cerbat GemWall Street Zen cut shares of Plumas Bancorp (NASDAQ:PLBC – Free Report) from a buy rating to a hold rating in a research report released on Sunday.
A number of other research firms have also weighed in on PLBC. Piper Sandler lowered their target price on Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plumas Bancorp in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $55.50.
View Our Latest Research Report on Plumas Bancorp
Plumas Bancorp Trading Down 0.4%
Shares of Plumas Bancorp stock opened at $52.65 on Friday. The stock’s fifty day moving average price is $46.85 and its 200-day moving average price is $43.93. The firm has a market cap of $366.44 million, a P/E ratio of 11.60 and a beta of 0.62. Plumas Bancorp has a 12 month low of $38.71 and a 12 month high of $54.58.
Plumas Bancorp (NASDAQ:PLBC – Get Free Report) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.19. Plumas Bancorp had a net margin of 26.40% and a return on equity of 16.28%. The company had revenue of $28.58 million for the quarter, compared to analysts’ expectations of $27.39 million. Analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current year.
Plumas Bancorp Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, February 4th. This is a positive change from Plumas Bancorp’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.5%. Plumas Bancorp’s payout ratio is presently 29.07%.
Institutional Trading of Plumas Bancorp
A number of institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in Plumas Bancorp by 44,800.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 898 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 896 shares in the last quarter. CWM LLC grew its holdings in shares of Plumas Bancorp by 408.9% during the third quarter. CWM LLC now owns 1,089 shares of the financial services provider’s stock valued at $47,000 after buying an additional 875 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Plumas Bancorp by 33.1% during the third quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock valued at $53,000 after buying an additional 305 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Plumas Bancorp by 623.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 1,410 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Plumas Bancorp in the 1st quarter worth $78,000. 41.68% of the stock is currently owned by institutional investors and hedge funds.
Plumas Bancorp Company Profile
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.