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

Key Points

• Wall Street Zen upgraded Plumas Bancorp from hold to buy, adding to a generally bullish analyst tone on the stock.
• Other firms have also turned positive: Piper Sandler and Stephens both raised price targets, and the consensus rating is Buy with an average price target of $61.50.
• Plumas Bancorp reported solid quarterly results, with EPS of $1.38 topping estimates and revenue of $28.14 million beating expectations; the stock recently traded at $58.24, near its 12-month high of $60.47.

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

A number of other brokerages also recently commented on PLBC. Weiss Ratings restated a "buy (b)" rating on shares of Plumas Bancorp in a report on Monday, April 27th. Piper Sandler increased their target price on Plumas Bancorp from $59.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. Finally, Stephens raised their target price on Plumas Bancorp from $57.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $61.50.

Plumas Bancorp Trading Up 0.7%

NASDAQ:PLBC traded up $0.39 during mid-day trading on Friday, reaching $58.24. 37,888 shares of the company's stock traded hands, compared to its average volume of 67,424. The company has a 50 day moving average price of $54.68 and a 200-day moving average price of $51.20. The firm has a market capitalization of $405.82 million, a price-to-earnings ratio of 12.34 and a beta of 0.59. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.85. Plumas Bancorp has a 12-month low of $39.70 and a 12-month high of $60.47.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.07. The business had revenue of $28.14 million during the quarter, compared to analysts' expectations of $27.24 million. Plumas Bancorp had a return on equity of 15.16% and a net margin of 26.67%. On average, sell-side analysts predict that Plumas Bancorp will post 5.64 earnings per share for the current year.

Institutional Investors Weigh In On Plumas Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in PLBC. Bank of America Corp DE raised its holdings in Plumas Bancorp by 12.6% in the 1st quarter. Bank of America Corp DE now owns 5,828 shares of the financial services provider's stock worth $285,000 after acquiring an additional 650 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Plumas Bancorp by 19.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 235,916 shares of the financial services provider's stock valued at $11,517,000 after purchasing an additional 39,176 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Plumas Bancorp by 12.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 123,750 shares of the financial services provider's stock worth $6,041,000 after purchasing an additional 13,342 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Plumas Bancorp in the 1st quarter worth $378,000. Finally, My Personal CFO LLC purchased a new position in shares of Plumas Bancorp in the first quarter worth $206,000. Institutional investors own 41.68% of the company's stock.

Plumas Bancorp Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.