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

Plumas Bancorp (NASDAQ:PLBC) issued its quarterly earnings results on Wednesday. The financial services provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.15, FiscalAI reports. Plumas Bancorp had a return on equity of 15.82% and a net margin of 31.72%. The business had revenue of $29.33 million for the quarter, compared to analyst estimates of $29.03 million.

Plumas Bancorp Price Performance

Shares of NASDAQ PLBC opened at $63.49 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $62.01 and a two-hundred day simple moving average of $57.96. Plumas Bancorp has a 1-year low of $39.80 and a 1-year high of $64.30. The firm has a market cap of $441.89 million, a price-to-earnings ratio of 10.58 and a beta of 0.59.

Plumas Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Tuesday, November 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, November 3rd. Plumas Bancorp’s dividend payout ratio is 25.98%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLBC. Raymond James Financial reaffirmed an “outperform” rating and set a $70.00 target price on shares of Plumas Bancorp in a research report on Wednesday. The Goldman Sachs Group set a $70.00 price target on shares of Plumas Bancorp in a report on Wednesday. Wall Street Zen lowered shares of Plumas Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Piper Sandler raised their price objective on shares of Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Finally, Weiss Ratings upgraded shares of Plumas Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $68.25.

Insider Activity

In other Plumas Bancorp news, EVP Kevin Kaiser sold 1,200 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $61.50, for a total value of $73,800.00. Following the sale, the executive vice president directly owned 719 shares in the company, valued at $44,218.50. The trade was a 62.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.40% of the stock is currently owned by insiders.

About Plumas Bancorp

Plumas Bancorp is the bank holding company for Plumas Bank, a community bank headquartered in Reno, Nevada. Plumas Bank was founded in 1980 in Quincy, California, and serves individuals, families, businesses and organizations through banking offices and digital banking services.

The bank provides a range of financial products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing, business loans, agricultural lending and lines of credit.