Plumas Bancorp's (PLBC) "Buy (B)" Rating Reaffirmed at Weiss Ratings

Key Points

• Plumas Bancorp's stock has been reaffirmed with a "Buy (B)" rating by Weiss Ratings, reflecting analyst confidence in the company's performance.
• The firm reported an EPS of $1.05 for the recent quarter, falling short of the $1.20 consensus estimate, indicating potential concerns about its earnings performance.
• Institutional investors hold 41.68% of Plumas Bancorp's stock, showcasing significant investor interest and involvement in the company.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler lowered their target price on shares of Plumas Bancorp from $65.00 to $64.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. Raymond James Financial reissued an "outperform" rating and set a $50.00 target price (up previously from $48.00) on shares of Plumas Bancorp in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $58.00.

Plumas Bancorp Trading Down 0.1%

Plumas Bancorp stock opened at $42.08 on Wednesday. Plumas Bancorp has a 12 month low of $37.69 and a 12 month high of $51.33. The business's 50 day simple moving average is $42.75 and its 200 day simple moving average is $43.12. The company has a market cap of $292.46 million, a price-to-earnings ratio of 8.68 and a beta of 0.68.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.15). Plumas Bancorp had a net margin of 30.81% and a return on equity of 15.71%. The firm had revenue of $20.54 million during the quarter, compared to analysts' expectations of $21.00 million. During the same quarter in the previous year, the company posted $1.14 EPS. As a group, equities research analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Plumas Bancorp

In other news, Director Michael Kevin Foster purchased 749 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were purchased at an average price of $42.56 per share, with a total value of $31,877.44. Following the completion of the acquisition, the director owned 2,330 shares in the company, valued at $99,164.80. This trade represents a 47.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Aaron M. Boigon sold 1,500 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $41.09, for a total transaction of $61,635.00. Following the completion of the transaction, the executive vice president directly owned 4,100 shares in the company, valued at approximately $168,469. The trade was a 26.79% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in Plumas Bancorp by 3.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,014 shares of the financial services provider's stock worth $563,000 after acquiring an additional 386 shares in the last quarter. Abound Financial LLC purchased a new position in Plumas Bancorp in the first quarter worth $42,000. Corton Capital Inc. grew its position in Plumas Bancorp by 17.5% in the first quarter. Corton Capital Inc. now owns 6,630 shares of the financial services provider's stock worth $287,000 after acquiring an additional 988 shares in the last quarter. GAMMA Investing LLC grew its position in Plumas Bancorp by 4,382.1% in the first quarter. GAMMA Investing LLC now owns 1,255 shares of the financial services provider's stock worth $54,000 after acquiring an additional 1,227 shares in the last quarter. Finally, Copeland Capital Management LLC purchased a new position in Plumas Bancorp in the first quarter worth $53,000. Institutional investors own 41.68% of the company's stock.

About Plumas Bancorp

Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.

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