Plumas Bancorp (NASDAQ:PLBC) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Plumas Bancorp (NASDAQ:PLBC) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.15, FiscalAI reports. The company had revenue of $29.33 million during the quarter, compared to analysts’ expectations of $29.03 million. Plumas Bancorp had a return on equity of 15.41% and a net margin of 27.39%.

Plumas Bancorp Price Performance

Shares of NASDAQ PLBC opened at $63.05 on Thursday. The stock has a market capitalization of $438.83 million, a PE ratio of 10.97 and a beta of 0.59. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average price of $62.01 and a two-hundred day moving average price of $57.86. Plumas Bancorp has a fifty-two week low of $39.80 and a fifty-two week high of $64.00.

Insider Activity

In other news, EVP Kevin Kaiser sold 1,200 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $61.50, for a total transaction of $73,800.00. Following the sale, the executive vice president directly owned 719 shares of the company’s stock, valued at approximately $44,218.50. This represents a 62.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen downgraded Plumas Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Piper Sandler raised their price target on shares of Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of Plumas Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Stephens boosted their price objective on shares of Plumas Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, The Goldman Sachs Group set a $70.00 target price on shares of Plumas Bancorp in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat, Plumas Bancorp presently has an average rating of “Buy” and a consensus target price of $68.25.

Plumas Bancorp Company Profile

Plumas Bancorp is the bank holding company for Plumas Bank, a community banking institution serving businesses, individuals and organizations in Northern California and Northwestern Nevada. The company is headquartered in Reno, Nevada, and operates through a network of branches and other banking offices in the region.

Plumas Bank provides a range of deposit and lending products, including checking and savings accounts, certificates of deposit, commercial and small-business loans, agricultural financing, residential real estate loans and consumer credit.