In This Article:
Plumas Bancorp (PLBC) shares rallied 5.4% in the last trading session to close at $48.65. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.6% loss over the past four weeks.
Shares of Plumas Bancorp rallied for the second straight day. Bank stocks are in focus as the interest rates are gradually expected to decrease. Further, solid economic growth and a decent lending scenario will offer support. This is likely to have driven PLBC stock higher on Friday.
This company is expected to post quarterly earnings of $1.15 per share in its upcoming report, which represents a year-over-year change of -9.5%. Revenues are expected to be $20.5 million, up 2.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Plumas Bancorp, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PLBC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Plumas Bancorp is part of the Zacks Banks - West industry. First Hawaiian (FHB), another stock in the same industry, closed the last trading session 1.1% higher at $25.48. FHB has returned -7.7% in the past month.
For First Hawaiian , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.44. This represents a change of +18.9% from what the company reported a year ago. First Hawaiian currently has a Zacks Rank of #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Plumas Bancorp (PLBC) : Free Stock Analysis Report
First Hawaiian, Inc. (FHB) : Free Stock Analysis Report