Plumas Bancorp (NASDAQ:PLBC) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Plumas Bancorp (NASDAQ:PLBC) from a hold rating to a buy rating in a report published on Saturday morning.

Other research analysts have also issued reports about the stock. Piper Sandler lowered their target price on shares of Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Plumas Bancorp in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $55.50.

Plumas Bancorp Stock Performance

NASDAQ:PLBC opened at $50.11 on Friday. Plumas Bancorp has a 1 year low of $38.71 and a 1 year high of $52.01. The stock has a fifty day moving average price of $45.52 and a two-hundred day moving average price of $43.43. The stock has a market capitalization of $348.77 million, a price-to-earnings ratio of 11.04 and a beta of 0.60.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.19. The business had revenue of $28.58 million for the quarter, compared to analysts’ expectations of $27.39 million. Plumas Bancorp had a net margin of 26.40% and a return on equity of 16.28%. On average, analysts predict that Plumas Bancorp will post 4.51 EPS for the current year.

Plumas Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, February 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. This is an increase from Plumas Bancorp’s previous quarterly dividend of $0.30. Plumas Bancorp’s payout ratio is presently 26.43%.

Hedge Funds Weigh In On Plumas Bancorp

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Plumas Bancorp by 44,800.0% in the third quarter. EverSource Wealth Advisors LLC now owns 898 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 896 shares during the last quarter. CWM LLC increased its position in 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 purchasing an additional 875 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Plumas Bancorp by 33.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 305 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in 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 purchasing an additional 1,410 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Plumas Bancorp during the 1st quarter worth about $78,000. Hedge funds and other institutional investors own 41.68% of the company’s stock.

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.