Plumas Bancorp (NASDAQ:PLBC) Issues Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Plumas Bancorp (NASDAQ:PLBC) announced its earnings results on Wednesday. The financial services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.19, FiscalAI reports. The business had revenue of $28.58 million during the quarter, compared to analyst estimates of $27.39 million. Plumas Bancorp had a net margin of 25.80% and a return on equity of 15.30%.

Plumas Bancorp Stock Performance

Shares of PLBC opened at $44.53 on Wednesday. The stock has a 50-day moving average of $44.27 and a two-hundred day moving average of $43.18. The stock has a market cap of $309.75 million, a P/E ratio of 10.43 and a beta of 0.60. Plumas Bancorp has a one year low of $38.71 and a one year high of $49.47.

Hedge Funds Weigh In On Plumas Bancorp

A number of large investors have recently bought and sold shares of the business. Jane Street Group LLC purchased a new position in Plumas Bancorp during the first quarter worth about $255,000. Acadian Asset Management LLC acquired a new stake in Plumas Bancorp in the first quarter valued at $78,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Plumas Bancorp by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 180,291 shares of the financial services provider’s stock valued at $8,016,000 after purchasing an additional 6,637 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Plumas Bancorp by 623.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock valued at $73,000 after buying an additional 1,410 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Plumas Bancorp by 5.2% during the 3rd quarter. Vanguard Group Inc. now owns 306,458 shares of the financial services provider’s stock worth $13,221,000 after purchasing an additional 15,080 shares in the last quarter. Institutional investors and hedge funds own 41.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PLBC. Weiss Ratings reissued a “buy (b-)” rating on shares of Plumas Bancorp in a report on Monday, December 29th. Piper Sandler dropped their price objective on shares of Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, Plumas Bancorp presently has an average rating of “Buy” and a consensus price target of $55.50.

Plumas Bancorp Company Profile

Plumas Bancorp (NASDAQ:PLBC) is a bank holding company headquartered in Quincy, California, and the parent of Plumas Bank. The company focuses on community banking, delivering personalized financial solutions to individuals, families, small businesses and agricultural clients. Through its subsidiary, Plumas Bank offers a comprehensive range of deposit and lending products designed to meet the unique needs of customers in Northern California’s rural and semi-rural markets.

Plumas Bank’s product lineup includes checking and savings accounts, money market funds and certificates of deposit, alongside a variety of consumer lending options such as residential mortgages, home equity lines of credit and installment loans.