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

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

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

Plumas Bancorp Trading Up 0.3 %

Shares of NASDAQ PLBC opened at $35.35 on Thursday. The company’s 50-day moving average price is $35.14 and its 200 day moving average price is $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 $208.21 million, a price-to-earnings ratio of 7.40 and a beta of 0.73.

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

Insider Activity at Plumas Bancorp

In other Plumas Bancorp news, EVP Aaron M. Boigon sold 1,600 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PLBC. Vanguard Group Inc. boosted its holdings in shares of Plumas Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 278,382 shares of the financial services provider’s stock worth $11,511,000 after purchasing an additional 2,074 shares during the last quarter. Barclays PLC lifted its position in Plumas Bancorp by 621.0% during the fourth quarter. Barclays PLC now owns 7,520 shares of the financial services provider’s stock worth $311,000 after buying an additional 6,477 shares during the period. Nuveen Asset Management LLC boosted its stake in Plumas Bancorp by 49.7% in the 4th quarter. Nuveen Asset Management LLC now owns 10,795 shares of the financial services provider’s stock worth $446,000 after buying an additional 3,585 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Plumas Bancorp in the 4th quarter valued at about $309,000. Finally, Royal Bank of Canada increased its stake in shares of 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 acquiring an additional 2,800 shares during the last quarter. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Plumas Bancorp Company Profile

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.