Plumas Bancorp (NASDAQ:PLBC) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Plumas Bancorp (NASDAQ:PLBC) issued its earnings results on Wednesday. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.04, FiscalAI reports. The business had revenue of $28.76 million for the quarter, compared to analyst estimates of $28.02 million. Plumas Bancorp had a net margin of 26.67% and a return on equity of 15.16%.

Plumas Bancorp Trading Down 0.2%

Plumas Bancorp stock opened at $58.32 on Wednesday. Plumas Bancorp has a 52-week low of $39.70 and a 52-week high of $60.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $406.49 million, a price-to-earnings ratio of 12.36 and a beta of 0.59. The firm has a 50-day moving average price of $54.97 and a two-hundred day moving average price of $51.42.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Plumas Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday. Piper Sandler increased their target price on Plumas Bancorp from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Plumas Bancorp in a research report on Monday, April 27th. Finally, Stephens upped their price target on Plumas Bancorp from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $61.50.

Hedge Funds Weigh In On Plumas Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in Plumas Bancorp by 2.0% during the 4th quarter. AQR Capital Management LLC now owns 11,684 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 226 shares during the period. Squarepoint Ops LLC grew its stake in shares of Plumas Bancorp by 42.3% in the fourth quarter. Squarepoint Ops LLC now owns 13,064 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 3,883 shares in the last quarter. Barclays PLC increased its holdings in shares of Plumas Bancorp by 17.4% during the fourth quarter. Barclays PLC now owns 11,116 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 1,651 shares during the period. Wells Fargo & Company MN raised its stake in shares of Plumas Bancorp by 54.5% during the fourth quarter. Wells Fargo & Company MN now owns 7,319 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 2,582 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Plumas Bancorp by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 11,700 shares of the financial services provider’s stock valued at $523,000 after purchasing an additional 395 shares in the last quarter. 41.68% of the stock is currently owned by institutional investors and hedge funds.

About Plumas Bancorp

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.