Plumas Bancorp (NASDAQ:PLBC) Upgraded at Wall Street Zen

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

Several other research analysts have also recently issued reports on PLBC. The Goldman Sachs Group set a $70.00 price objective on Plumas Bancorp in a research report on Wednesday, October 21st. Raymond James Financial restated an “outperform” rating and set a $70.00 target price on shares of Plumas Bancorp in a research report on Wednesday, October 21st. Weiss Ratings upgraded shares of Plumas Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Stephens upped their price target on shares of Plumas Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, Piper Sandler increased their price target on shares of Plumas Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Four equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $68.25.

Plumas Bancorp Stock Performance

Shares of PLBC stock opened at $63.56 on Friday. The company has a market cap of $442.31 million, a price-to-earnings ratio of 10.66 and a beta of 0.59. The stock has a 50 day simple moving average of $62.02 and a 200-day simple moving average of $55.51. Plumas Bancorp has a 12-month low of $39.80 and a 12-month high of $64.30. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.46 by $0.15. Plumas Bancorp had a return on equity of 15.82% and a net margin of 31.72%. The business had revenue of $29.33 million during the quarter, compared to analysts’ expectations of $29.03 million. On average, equities analysts forecast that Plumas Bancorp will post 5.92 EPS for the current year.

Plumas Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Tuesday, November 3rd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, November 3rd. Plumas Bancorp’s dividend payout ratio (DPR) is currently 22.15%.

Insider Activity

In other news, EVP Kevin Kaiser sold 1,200 shares of Plumas Bancorp stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $61.50, for a total transaction of $73,800.00. Following the completion of the sale, the executive vice president directly owned 719 shares in the company, valued at $44,218.50. The trade was a 62.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Plumas Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in Plumas Bancorp during the second quarter worth approximately $39,000. Blue Trust Inc. acquired a new position in Plumas Bancorp in the 1st quarter valued at $40,000. Public Employees Retirement System of Ohio purchased a new position in shares of Plumas Bancorp during the 2nd quarter worth $88,000. Simplicity Wealth LLC purchased a new position in shares of Plumas Bancorp during the 2nd quarter worth $204,000. Finally, My Personal CFO LLC purchased a new position in shares of Plumas Bancorp during the 1st quarter worth $206,000. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Plumas Bancorp Company Profile

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.