Plumas Bancorp (NASDAQ:PLBC) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Plumas Bancorp (NASDAQ:PLBC) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

Separately, Raymond James lifted their price objective 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 Up 0.3 %

NASDAQ:PLBC opened at $35.35 on Thursday. The company’s 50 day moving average is $35.14 and its 200-day moving average is $36.23. Plumas Bancorp has a 12 month low of $31.77 and a 12 month high of $45.00. The firm has a market cap of $208.21 million, a price-to-earnings ratio of 7.40 and a beta of 0.73.

Plumas Bancorp (NASDAQ:PLBC) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.23 by $0.04. The firm had revenue of $20.01 million for the quarter, compared to the consensus estimate of $20.00 million. Plumas Bancorp had a net margin of 33.12% and a return on equity of 21.53%. Research analysts predict that Plumas Bancorp will post 4.8 EPS for the current fiscal year.

Insider Activity

In related news, EVP Aaron M. Boigon sold 1,600 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $36.89, for a total transaction of $59,024.00. Following the transaction, the executive vice president now owns 5,600 shares of the company’s stock, valued at $206,584. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Plumas Bancorp

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in Plumas Bancorp by 183.8% during the second quarter. Royal Bank of Canada now owns 1,141 shares of the financial services provider’s stock worth $40,000 after buying an additional 739 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Plumas Bancorp during the 3rd quarter worth about $42,000. BNP Paribas Arbitrage SNC acquired a new stake in Plumas Bancorp during the 2nd quarter worth $51,000. Barclays PLC acquired a new stake in Plumas Bancorp during the 1st quarter worth approximately $61,000. Finally, California State Teachers Retirement System bought a new stake in shares of Plumas Bancorp in the second quarter valued at about $65,000. 41.68% of the stock is owned by institutional investors and hedge funds.

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.