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

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

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

Plumas Bancorp Price Performance

Shares of PLBC stock traded up $0.09 during trading hours on Thursday, reaching $35.35. 6,053 shares of the company traded hands, compared to its average volume of 6,821. Plumas Bancorp has a 12-month low of $31.77 and a 12-month high of $45.00. The company has a market cap of $208.21 million, a P/E ratio of 7.06 and a beta of 0.73. The firm has a 50-day moving average price of $35.15 and a 200 day moving average price of $36.23.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.04. Plumas Bancorp had a return on equity of 22.70% and a net margin of 34.90%. The firm had revenue of $20.01 million for the quarter, compared to analysts’ expectations of $20.00 million. Sell-side analysts predict that Plumas Bancorp will post 4.8 EPS for the current year.

Insider Buying and Selling

In other 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 sale, the executive vice president now directly owns 5,600 shares of the company’s stock, valued at approximately $206,584. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.00% of the stock is owned by insiders.

Institutional Trading of Plumas Bancorp

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in shares of Plumas Bancorp by 183.8% during the 2nd quarter. Royal Bank of Canada now owns 1,141 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 739 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Plumas Bancorp during the 3rd quarter worth approximately $42,000. BNP Paribas Arbitrage SNC purchased a new stake in shares of Plumas Bancorp during the 2nd quarter worth approximately $51,000. Barclays PLC purchased a new stake in shares of Plumas Bancorp during the 1st quarter worth approximately $61,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Plumas Bancorp during the 2nd quarter worth approximately $65,000. 41.68% of the stock is owned by hedge funds and other institutional investors.

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.