Plumas Bancorp (NASDAQ:PLBC) Upgraded by Wall Street Zen to Buy Rating

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

Several other equities analysts also recently weighed in on the company. Piper Sandler dropped their price objective on 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 reissued a “buy (b-)” rating on shares of Plumas Bancorp in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $55.50.

Plumas Bancorp Stock Up 0.6%

Shares of NASDAQ PLBC opened at $50.11 on Friday. The stock has a market capitalization of $348.77 million, a price-to-earnings ratio of 11.04 and a beta of 0.60. Plumas Bancorp has a 52 week low of $38.71 and a 52 week high of $52.01. The firm has a 50-day moving average price of $45.52 and a 200 day moving average price of $43.44.

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

Hedge Funds Weigh In On Plumas Bancorp

A number of institutional investors have recently made changes to their positions in PLBC. EverSource Wealth Advisors LLC boosted its stake in shares of Plumas Bancorp by 44,800.0% during the third quarter. EverSource Wealth Advisors LLC now owns 898 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 896 shares during the last quarter. CWM LLC raised its stake in Plumas Bancorp by 408.9% in the 3rd quarter. CWM LLC now owns 1,089 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 875 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Plumas Bancorp by 33.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 305 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Plumas Bancorp by 623.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 1,410 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Plumas Bancorp during the 1st quarter worth about $78,000. 41.68% of the stock is owned by institutional investors and hedge funds.

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.