Plumas Bancorp (NASDAQ:PLBC) Stock Lifted to "Buy" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Plumas Bancorp to “Buy” from “Hold.” Other analysts are also bullish, with the stock receiving an overall “Buy” rating and an average price target of $68.25.
• Plumas Bancorp exceeded third-quarter expectations, reporting $1.61 in EPS versus the $1.46 consensus and revenue of $29.33 million versus $29.03 million expected.
• Shares opened at $63.20, near their 52-week high of $64.30, while institutional investors own 41.68% of the company; an executive recently sold 1,200 shares.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

PLBC has been the subject of a number of other research reports. The Goldman Sachs Group set a $70.00 price objective on shares of Plumas Bancorp in a report on Wednesday. Stephens raised their target price 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 boosted their target price on Plumas Bancorp from $66.00 to $69.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Raymond James Financial restated an "outperform" rating and issued a $70.00 price target on shares of Plumas Bancorp in a research report on Wednesday. Finally, Weiss Ratings upgraded Plumas Bancorp from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $68.25.

Plumas Bancorp Price Performance

Shares of NASDAQ PLBC opened at $63.20 on Friday. The firm has a 50-day simple moving average of $62.01 and a 200-day simple moving average of $57.99. The stock has a market capitalization of $439.81 million, a price-to-earnings ratio of 10.60 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06. Plumas Bancorp has a 52 week low of $39.80 and a 52 week high of $64.30.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.15. The firm had revenue of $29.33 million for the quarter, compared to the consensus estimate of $29.03 million. Plumas Bancorp had a net margin of 31.72% and a return on equity of 15.82%. On average, equities analysts predict that Plumas Bancorp will post 5.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kevin Kaiser sold 1,200 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $61.50, for a total value of $73,800.00. Following the completion of the sale, the executive vice president owned 719 shares of the company's stock, valued at $44,218.50. This represents a 62.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 7.40% of the stock is owned by insiders.

Institutional Trading of Plumas Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Plumas Bancorp during the 2nd quarter valued at approximately $26,754,000. The Manufacturers Life Insurance Company purchased a new position in Plumas Bancorp in the second quarter worth approximately $13,704,000. De Lisle Partners LLP purchased a new position in Plumas Bancorp in the second quarter worth approximately $13,318,000. Punch & Associates Investment Management Inc. acquired a new stake in Plumas Bancorp during the second quarter worth $3,829,000. Finally, Rice Hall James & Associates LLC acquired a new stake in Plumas Bancorp during the second quarter worth $2,479,000. Institutional investors and hedge funds own 41.68% of the company's stock.

Trending Headlines about Plumas Bancorp

Here are the key news stories impacting Plumas Bancorp this week:

• Positive Sentiment: Third-quarter earnings exceeded expectations. Plumas Bancorp reported adjusted earnings of $1.61 per share, above the $1.46 analyst consensus, while revenue of $29.33 million also topped estimates of $29.03 million. Net income reportedly more than doubled, highlighting strong profitability and helping support the investment case. Plumas Bancorp Q3 Earnings
• Positive Sentiment: The company declared a $0.33 quarterly dividend. The payment is scheduled for November 17 to shareholders of record on November 3. The dividend represents $1.32 annually and a yield of approximately 2.1%, providing ongoing income support for shareholders. Plumas Bancorp Quarterly Dividend
• Neutral Sentiment: Plumas Bancorp is changing chief financial officers. Kelsey Cassinelli will succeed longtime CFO Richard Belstock, who is retiring from the role but will remain with Plumas Bank as special assistant to the president. The planned transition may limit disruption because of Belstock’s continued involvement, though investors may watch for updates on financial reporting and execution under the new CFO. Plumas Bancorp CFO Transition

About Plumas Bancorp

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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