Plumas Bancorp (NASDAQ:PLBC) Lowered to “Sell” at StockNews.com

Plumas Bancorp (NASDAQ:PLBC) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Separately, Raymond James lifted their target price on Plumas Bancorp from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, January 19th.

Plumas Bancorp Price Performance

Plumas Bancorp stock opened at $35.48 on Thursday. The firm has a market cap of $208.98 million, a P/E ratio of 7.42 and a beta of 0.73. The stock’s 50 day moving average is $35.14 and its 200 day moving average is $36.23. Plumas Bancorp has a one year low of $31.77 and a one year high of $45.00.

Plumas Bancorp (NASDAQ:PLBC) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.04. The business had revenue of $20.01 million during the quarter, compared to the consensus estimate of $20.00 million. Plumas Bancorp had a return on equity of 21.53% and a net margin of 33.12%. Equities analysts anticipate that Plumas Bancorp will post 4.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Aaron M. Boigon sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $36.89, for a total transaction of $59,024.00. Following the completion of the sale, the executive vice president now owns 5,600 shares in the company, valued at $206,584. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 9.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Plumas Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of PLBC. Raymond James & Associates increased its holdings in shares of Plumas Bancorp by 1.7% during the first quarter. Raymond James & Associates now owns 48,196 shares of the financial services provider’s stock valued at $1,836,000 after acquiring an additional 828 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Plumas Bancorp by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 12,245 shares of the financial services provider’s stock worth $466,000 after buying an additional 321 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Plumas Bancorp by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 42,818 shares of the financial services provider’s stock worth $1,631,000 after buying an additional 571 shares in the last quarter. Vanguard Group Inc. grew its holdings in Plumas Bancorp by 28.1% during the first quarter. Vanguard Group Inc. now owns 234,448 shares of the financial services provider’s stock worth $8,933,000 after buying an additional 51,497 shares in the last quarter. Finally, UBS Group AG grew its holdings in Plumas Bancorp by 22.0% during the first quarter. UBS Group AG now owns 4,393 shares of the financial services provider’s stock worth $168,000 after buying an additional 793 shares in the last quarter. Institutional investors own 41.68% of the company’s stock.

About Plumas Bancorp

Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.