Plumas Bancorp (NASDAQ:PLBC) Downgraded by Wall Street Zen to Hold

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

Several other research firms also recently issued reports on PLBC. Raymond James Financial restated an “outperform” rating and set a $70.00 price objective on shares of Plumas Bancorp in a report on Wednesday, October 21st. Piper Sandler raised their target price on shares of Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Weiss Ratings downgraded shares of Plumas Bancorp from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, October 23rd. The Goldman Sachs Group set a $70.00 target price on shares of Plumas Bancorp in a research report on Wednesday, October 21st. Finally, Stephens boosted their price target on shares of Plumas Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Four analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $68.25.

Plumas Bancorp Stock Down 0.2%

Shares of Plumas Bancorp stock opened at $62.46 on Friday. Plumas Bancorp has a 12-month low of $41.24 and a 12-month high of $65.10. The firm has a market capitalization of $433.53 million, a PE ratio of 10.48 and a beta of 0.52. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average is $62.34 and its 200-day moving average is $56.34.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.15. Plumas Bancorp had a return on equity of 15.87% and a net margin of 31.72%. The business had revenue of $29.33 million during the quarter, compared to analyst estimates of $29.03 million. Equities analysts anticipate that Plumas Bancorp will post 5.92 earnings per share for the current year.

Plumas Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Tuesday, November 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, November 3rd. Plumas Bancorp’s payout ratio is currently 22.15%.

Insider Activity at Plumas Bancorp

In related news, EVP Kevin Kaiser sold 1,200 shares of the business’s 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 completion of the sale, the executive vice president owned 719 shares of the company’s stock, valued at approximately $44,218.50. The trade was a 62.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Plumas Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Plumas Bancorp in the second quarter worth approximately $26,754,000. The Manufacturers Life Insurance Company raised its holdings in shares of Plumas Bancorp by 19.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 235,916 shares of the financial services provider’s stock valued at $11,517,000 after purchasing an additional 39,176 shares in the last quarter. De Lisle Partners LLP bought a new position in shares of Plumas Bancorp during the 2nd quarter valued at $13,318,000. Dimensional Fund Advisors LP raised its holdings in shares of Plumas Bancorp by 12.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 123,750 shares of the financial services provider’s stock valued at $6,041,000 after purchasing an additional 13,342 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. acquired a new stake in shares of Plumas Bancorp in the 2nd quarter valued at $3,829,000. 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.