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

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

Plumas Bancorp Price Performance

PLBC opened at $62.00 on Wednesday. The firm has a 50-day moving average price of $62.01 and a 200-day moving average price of $57.76. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06. Plumas Bancorp has a twelve month low of $39.80 and a twelve month high of $64.00. The company has a market capitalization of $431.46 million, a price-to-earnings ratio of 12.20 and a beta of 0.59.

Wall Street Analyst Weigh In

PLBC has been the subject of several recent research reports. Wall Street Zen cut Plumas Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Piper Sandler raised their price target on shares of Plumas Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Stephens boosted their price objective on Plumas Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of Plumas Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Finally, Raymond James Financial upgraded Plumas Bancorp to a “moderate buy” rating in a research report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Plumas Bancorp has a consensus rating of “Buy” and a consensus target price of $66.33.

Insiders Place Their Bets

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

About Plumas Bancorp

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.