Plumas Bancorp (NASDAQ:PLBC) Announces Quarterly Earnings Results

Plumas Bancorp (NASDAQ:PLBC) posted its quarterly earnings results on Wednesday. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.04, FiscalAI reports. The company had revenue of $28.76 million for the quarter, compared to analyst estimates of $28.02 million. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.63%.

Plumas Bancorp Trading Up 2.9%

Shares of PLBC opened at $61.96 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.06. The stock has a market cap of $431.86 million, a PE ratio of 12.20 and a beta of 0.59. Plumas Bancorp has a 1 year low of $39.70 and a 1 year high of $63.74. The stock has a 50 day simple moving average of $55.35 and a 200-day simple moving average of $51.64.

Plumas Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.1%. Plumas Bancorp’s dividend payout ratio is presently 27.97%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler lifted their target price on Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday. Raymond James Financial reaffirmed an “outperform” rating and issued a $66.00 price target on shares of Plumas Bancorp in a report on Thursday. Stephens raised 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. Wall Street Zen raised Plumas Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Plumas Bancorp in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, Plumas Bancorp currently has a consensus rating of “Buy” and an average target price of $66.33.

Institutional Trading of Plumas Bancorp

A number of large investors have recently bought and sold shares of PLBC. Vanguard Group Inc. raised its stake in Plumas Bancorp by 5.2% during the third quarter. Vanguard Group Inc. now owns 306,458 shares of the financial services provider’s stock worth $13,221,000 after acquiring an additional 15,080 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Plumas Bancorp by 3.8% in the 2nd 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. Geode Capital Management LLC grew its holdings in shares of Plumas Bancorp by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 151,555 shares of the financial services provider’s stock worth $6,775,000 after purchasing an additional 9,764 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Plumas Bancorp by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 110,408 shares of the financial services provider’s stock worth $4,934,000 after purchasing an additional 6,769 shares during the last quarter. Finally, Fourthstone LLC increased its position in shares of Plumas Bancorp by 125.9% during the 4th quarter. Fourthstone LLC now owns 102,585 shares of the financial services provider’s stock worth $4,585,000 after purchasing an additional 57,167 shares in the last quarter. 41.68% of the stock is currently owned by institutional investors.

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.