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

Plumas Bancorp (NASDAQ:PLBC) posted its quarterly earnings results on Wednesday. The financial services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.15), Zacks reports. Plumas Bancorp had a return on equity of 16.58% and a net margin of 31.18%.

Plumas Bancorp Price Performance

PLBC stock opened at $44.45 on Wednesday. Plumas Bancorp has a 1-year low of $35.76 and a 1-year high of $51.33. The stock has a market capitalization of $263.54 million, a P/E ratio of 9.00 and a beta of 0.61. The business has a fifty day moving average price of $44.21 and a 200-day moving average price of $44.14.

Insider Activity at Plumas Bancorp

In other news, Director Michael Kevin Foster acquired 581 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average price of $43.99 per share, with a total value of $25,558.19. Following the completion of the acquisition, the director directly owned 1,581 shares of the company’s stock, valued at approximately $69,548.19. The trade was a 58.10% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.00% of the stock is owned by insiders.

Institutional Trading of Plumas Bancorp

A hedge fund recently bought a new stake in Plumas Bancorp stock. Acadian Asset Management LLC acquired a new position in Plumas Bancorp (NASDAQ:PLBC) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,829 shares of the financial services provider’s stock, valued at approximately $78,000. Institutional investors and hedge funds own 41.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PLBC shares. Raymond James Financial restated an “outperform” rating and issued a $50.00 price target (up previously from $48.00) on shares of Plumas Bancorp in a research note on Tuesday, July 8th. Piper Sandler decreased their price target on Plumas Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th.

About Plumas Bancorp

Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.