Plumas Bancorp (NASDAQ:PLBC) Upgraded at Wall Street Zen
by Renee Jackson · The Cerbat GemWall Street Zen upgraded shares of Plumas Bancorp (NASDAQ:PLBC – Free Report) from a hold rating to a buy rating in a report published on Saturday morning.
PLBC has been the topic of a number of other research reports. Piper Sandler dropped their price objective on Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plumas Bancorp in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $55.50.
View Our Latest Analysis on PLBC
Plumas Bancorp Stock Up 3.7%
Shares of PLBC opened at $51.96 on Friday. The firm has a market capitalization of $361.64 million, a PE ratio of 11.44 and a beta of 0.62. The firm has a 50-day moving average price of $45.72 and a 200 day moving average price of $43.50. Plumas Bancorp has a 52-week low of $38.71 and a 52-week high of $52.30.
Plumas Bancorp (NASDAQ:PLBC – Get Free Report) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.19. Plumas Bancorp had a net margin of 26.40% and a return on equity of 16.28%. The company had revenue of $28.58 million during the quarter, compared to analyst estimates of $27.39 million. On average, equities analysts expect that Plumas Bancorp will post 4.51 EPS for the current year.
Plumas Bancorp Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th will be issued a dividend of $0.33 per share. This is a positive change from Plumas Bancorp’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, February 4th. Plumas Bancorp’s dividend payout ratio (DPR) is currently 26.43%.
Institutional Trading of Plumas Bancorp
A number of hedge funds have recently bought and sold shares of PLBC. BNP Paribas Financial Markets increased its position in shares of Plumas Bancorp by 33.1% in the third quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 305 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Plumas Bancorp by 3.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,674 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 459 shares in the last quarter. Caldwell Sutter Capital Inc. raised its stake in Plumas Bancorp by 0.6% during the 4th quarter. Caldwell Sutter Capital Inc. now owns 106,283 shares of the financial services provider’s stock valued at $4,750,000 after purchasing an additional 599 shares during the period. CWM LLC lifted its holdings in shares of Plumas Bancorp by 408.9% in the third quarter. CWM LLC now owns 1,089 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 875 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Plumas Bancorp by 44,800.0% in the third quarter. EverSource Wealth Advisors LLC now owns 898 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 896 shares in the last quarter. 41.68% of the stock is 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.