Plumas Bancorp (NASDAQ:PLBC) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Plumas Bancorp from “Buy” to “Hold.” Despite the change, the broader analyst consensus remains “Buy,” with an average price target of $68.25.
• Plumas Bancorp reported quarterly EPS of $1.61, beating the $1.46 consensus estimate; revenue of $29.33 million also topped forecasts.
• Executive Vice President Kevin Kaiser sold 1,200 shares for $73,800, reducing his direct stake by 62.53%.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

PLBC has been the topic of several other reports. The Goldman Sachs Group set a $70.00 price objective on Plumas Bancorp in a research note on Wednesday, October 21st. Raymond James Financial reiterated an "outperform" rating and set a $70.00 price objective on shares of Plumas Bancorp in a research report on Wednesday, October 21st. Stephens lifted their price objective on shares of Plumas Bancorp from $60.00 to $64.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. Piper Sandler raised their price target on shares of Plumas Bancorp from $66.00 to $69.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Finally, Weiss Ratings downgraded shares of Plumas Bancorp from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, October 23rd. Four investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $68.25.

Plumas Bancorp Stock Down 0.2%

Shares of PLBC opened at $62.46 on Friday. The company has a market capitalization of $434.72 million, a PE ratio of 10.81 and a beta of 0.52. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $62.34 and a two-hundred day simple moving average of $56.34. Plumas Bancorp has a 52-week low of $41.24 and a 52-week high of $65.10.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last released its earnings results on Wednesday, October 21st. The financial services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.46 by $0.15. Plumas Bancorp had a net margin of 31.72% and a return on equity of 15.82%. The business had revenue of $29.33 million during the quarter, compared to analyst estimates of $29.03 million. As a group, equities analysts forecast that Plumas Bancorp will post 5.92 EPS for the current year.

Insider Buying and Selling at Plumas Bancorp

In other news, EVP Kevin Kaiser sold 1,200 shares of the company's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $61.50, for a total transaction of $73,800.00. Following the sale, the executive vice president directly owned 719 shares in the company, valued at approximately $44,218.50. This represents a 62.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On Plumas Bancorp

A number of large investors have recently added to or reduced their stakes in PLBC. Legal & General Group Plc acquired a new stake in Plumas Bancorp during the 2nd quarter valued at $39,000. Public Employees Retirement System of Ohio acquired a new stake in Plumas Bancorp during the 2nd quarter worth about $88,000. Simplicity Wealth LLC purchased a new stake in Plumas Bancorp in the 2nd quarter valued at about $204,000. Sequoia Financial Advisors LLC purchased a new position in Plumas Bancorp during the second quarter worth about $226,000. Finally, Engineers Gate Manager LP purchased a new stake in Plumas Bancorp in the second quarter worth $228,000. 41.68% of the stock is owned by institutional investors and hedge funds.

Plumas Bancorp Company Profile

Plumas Bancorp is the bank holding company for Plumas Bank, a community bank headquartered in Reno, Nevada. Plumas Bank was founded in 1980 in Quincy, California, and serves individuals, families, businesses and organizations through banking offices and digital banking services.

The bank provides a range of financial products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing, business loans, agricultural lending and lines of credit.

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