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

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

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plumas Bancorp in a research report on Monday, December 29th. Piper Sandler lowered their price objective on Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $55.50.

Plumas Bancorp Trading Up 1.3%

Shares of Plumas Bancorp stock opened at $53.41 on Friday. Plumas Bancorp has a 12-month low of $38.71 and a 12-month high of $54.58. The stock has a fifty day simple moving average of $46.47 and a 200 day simple moving average of $43.78. The company has a market capitalization of $371.73 million, a P/E ratio of 11.76 and a beta of 0.62.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in shares of Plumas Bancorp by 33.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 305 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Plumas Bancorp by 3.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,674 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 459 shares during the last quarter. Caldwell Sutter Capital Inc. grew its position in Plumas Bancorp by 0.6% in the 4th quarter. Caldwell Sutter Capital Inc. now owns 106,283 shares of the financial services provider’s stock worth $4,750,000 after purchasing an additional 599 shares during the period. CWM LLC raised its stake in Plumas Bancorp by 408.9% during the 3rd quarter. CWM LLC now owns 1,089 shares of the financial services provider’s stock valued at $47,000 after buying an additional 875 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Plumas Bancorp by 44,800.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 898 shares of the financial services provider’s stock valued at $39,000 after buying an additional 896 shares during the period. 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.