Plumas Bancorp (NASDAQ:PLBC) Upgraded to "Buy" at Wall Street Zen

Key Points

• Plumas Bancorp was upgraded by Wall Street Zen from “hold” to “buy”, adding to a broader bullish analyst outlook on the stock.
• Other recent research was also positive: Stephens and Piper Sandler both raised price targets and maintained overweight ratings, while MarketBeat data shows an average Buy rating with a mean target of $57.67.
• The company recently reported better-than-expected quarterly earnings, with EPS of $1.38 versus estimates of $1.31 and revenue of $28.14 million versus expectations of $27.24 million.

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

PLBC has been the subject of a number of other research reports. Stephens boosted their price objective on shares of Plumas Bancorp from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, April 16th. Piper Sandler boosted their price target on Plumas Bancorp from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Plumas Bancorp in a report on Monday, April 27th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $57.67.

Plumas Bancorp Stock Performance

PLBC stock opened at $52.03 on Friday. The company has a market cap of $362.65 million, a P/E ratio of 11.02 and a beta of 0.61. Plumas Bancorp has a 1 year low of $39.70 and a 1 year high of $54.58. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.85. The stock's fifty day moving average price is $50.29 and its 200-day moving average price is $47.31.

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

Insider Transactions at Plumas Bancorp

In other Plumas Bancorp news, Director Kenneth Edward Robison III sold 800 shares of the business's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $52.76, for a total transaction of $42,208.00. Following the completion of the sale, the director owned 1,875 shares of the company's stock, valued at approximately $98,925. The trade was a 29.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 7.40% of the company's stock.

Hedge Funds Weigh In On Plumas Bancorp

Several large investors have recently made changes to their positions in PLBC. Caldwell Sutter Capital Inc. lifted its position in shares of Plumas Bancorp by 13,110.5% in the third quarter. Caldwell Sutter Capital Inc. now owns 105,684 shares of the financial services provider's stock valued at $4,559,000 after acquiring an additional 104,884 shares in the last quarter. Siena Capital Partners GP LLC lifted its position in shares of Plumas Bancorp by 30.5% in the third quarter. Siena Capital Partners GP LLC now owns 286,752 shares of the financial services provider's stock valued at $12,370,000 after acquiring an additional 66,950 shares in the last quarter. Fourthstone LLC lifted its position in shares of Plumas Bancorp by 125.9% in the fourth quarter. Fourthstone LLC now owns 102,585 shares of the financial services provider's stock valued at $4,585,000 after acquiring an additional 57,167 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its position in shares of Plumas Bancorp by 42.3% in the third quarter. Punch & Associates Investment Management Inc. now owns 62,535 shares of the financial services provider's stock worth $2,698,000 after buying an additional 18,595 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Plumas Bancorp by 5.2% in the third quarter. Vanguard Group Inc. now owns 306,458 shares of the financial services provider's stock worth $13,221,000 after buying an additional 15,080 shares in the last quarter. 41.68% of the stock is currently owned by hedge funds and other institutional investors.

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.

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