Wall Street Zen Upgrades Plumas Bancorp (NASDAQ:PLBC) to “Buy”

Plumas Bancorp (NASDAQ:PLBC) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other research firms also recently commented on PLBC. Piper Sandler dropped their price objective on shares of Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Plumas Bancorp in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, Plumas Bancorp has an average rating of “Buy” and a consensus price target of $55.50.

Plumas Bancorp Stock Performance

Shares of PLBC opened at $50.11 on Friday. Plumas Bancorp has a fifty-two week low of $38.71 and a fifty-two week high of $52.01. The stock has a fifty day moving average of $45.52 and a two-hundred day moving average of $43.44. The company has a market capitalization of $348.77 million, a PE ratio of 11.04 and a beta of 0.60.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.19. Plumas Bancorp had a return on equity of 16.28% and a net margin of 26.40%.The business had revenue of $28.58 million during the quarter, compared to the consensus estimate of $27.39 million. As a group, equities research analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PLBC. Vanguard Group Inc. lifted its position in Plumas Bancorp by 5.2% during the third quarter. Vanguard Group Inc. now owns 306,458 shares of the financial services provider’s stock valued at $13,221,000 after buying an additional 15,080 shares in the last quarter. Siena Capital Partners GP LLC increased its position in shares of Plumas Bancorp by 30.5% in the third quarter. Siena Capital Partners GP LLC now owns 286,752 shares of the financial services provider’s stock worth $12,370,000 after acquiring an additional 66,950 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Plumas Bancorp by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 180,291 shares of the financial services provider’s stock valued at $8,016,000 after acquiring an additional 6,637 shares during the period. De Lisle Partners LLP lifted its holdings in shares of Plumas Bancorp by 1.2% during the 2nd quarter. De Lisle Partners LLP now owns 166,818 shares of the financial services provider’s stock valued at $7,429,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Caldwell Sutter Capital Inc. lifted its holdings in shares of Plumas Bancorp by 0.6% during the 4th quarter. Caldwell Sutter Capital Inc. now owns 106,283 shares of the financial services provider’s stock valued at $4,750,000 after acquiring an additional 599 shares in the last quarter. 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.