Plumas Bancorp (NASDAQ:PLBC) Stock Rating Lowered by StockNews.com

Plumas Bancorp (NASDAQ:PLBC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Separately, Raymond James increased their target price on Plumas Bancorp from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th.

Plumas Bancorp Stock Performance

NASDAQ PLBC opened at $35.48 on Thursday. The business has a 50 day simple moving average of $35.14 and a 200 day simple moving average of $36.23. Plumas Bancorp has a 52-week low of $31.77 and a 52-week high of $45.00. The stock has a market cap of $208.98 million, a price-to-earnings ratio of 7.42 and a beta of 0.73.

Plumas Bancorp (NASDAQ:PLBC) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.04. Plumas Bancorp had a return on equity of 21.53% and a net margin of 33.12%. The business had revenue of $20.01 million during the quarter, compared to analysts’ expectations of $20.00 million. On average, analysts predict that Plumas Bancorp will post 4.8 EPS for the current year.

Insiders Place Their Bets

In other Plumas Bancorp news, EVP Aaron M. Boigon sold 1,600 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $36.89, for a total transaction of $59,024.00. Following the completion of the transaction, the executive vice president now owns 5,600 shares of the company’s stock, valued at approximately $206,584. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 9.00% of the company’s stock.

Institutional Investors Weigh In On Plumas Bancorp

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Plumas Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 278,382 shares of the financial services provider’s stock valued at $11,511,000 after purchasing an additional 2,074 shares during the last quarter. Barclays PLC lifted its holdings in Plumas Bancorp by 621.0% during the 4th quarter. Barclays PLC now owns 7,520 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 6,477 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Plumas Bancorp by 49.7% during the 4th quarter. Nuveen Asset Management LLC now owns 10,795 shares of the financial services provider’s stock valued at $446,000 after purchasing an additional 3,585 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Plumas Bancorp during the 4th quarter valued at $309,000. Finally, Royal Bank of Canada lifted its holdings in Plumas Bancorp by 210.8% during the 4th quarter. Royal Bank of Canada now owns 4,128 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 2,800 shares during the last quarter. Institutional investors and hedge funds 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.