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

Plumas Bancorp (NASDAQ:PLBC) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently weighed in on PLBC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Plumas Bancorp in a research note on Monday, April 27th. Stephens increased their target price on Plumas Bancorp from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Finally, Piper Sandler raised their target price on Plumas Bancorp from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $57.67.

Plumas Bancorp Stock Performance

NASDAQ:PLBC opened at $58.84 on Friday. Plumas Bancorp has a fifty-two week low of $39.70 and a fifty-two week high of $59.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50 day moving average price of $53.31 and a 200 day moving average price of $50.28. The stock has a market capitalization of $410.11 million, a P/E ratio of 12.47 and a beta of 0.62.

Plumas Bancorp (NASDAQ:PLBC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. Plumas Bancorp had a return on equity of 15.16% and a net margin of 26.67%.The company had revenue of $28.14 million for the quarter, compared to analyst estimates of $27.24 million. Equities research analysts forecast that Plumas Bancorp will post 5.64 EPS for the current year.

Hedge Funds Weigh In On Plumas Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Siena Capital Partners GP LLC increased its holdings in Plumas Bancorp by 30.5% during the 3rd quarter. Siena Capital Partners GP LLC now owns 286,752 shares of the financial services provider’s stock worth $12,370,000 after purchasing an additional 66,950 shares during the period. Fourthstone LLC boosted its stake in shares of Plumas Bancorp by 125.9% in the 4th quarter. Fourthstone LLC now owns 102,585 shares of the financial services provider’s stock valued at $4,585,000 after buying an additional 57,167 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Plumas Bancorp by 19.9% in 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 buying an additional 39,176 shares during the period. Punch & Associates Investment Management Inc. boosted its stake in shares of Plumas Bancorp by 42.3% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 62,535 shares of the financial services provider’s stock valued at $2,698,000 after buying an additional 18,595 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Plumas Bancorp by 5.2% during the third quarter. Vanguard Group Inc. now owns 306,458 shares of the financial services provider’s stock worth $13,221,000 after buying an additional 15,080 shares in the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

About Plumas Bancorp

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.