Plumas Bancorp (NASDAQ:PLBC) Announces Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Plumas Bancorp (NASDAQ:PLBC) announced its earnings results on Wednesday. The financial services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.19, FiscalAI reports. Plumas Bancorp had a net margin of 25.80% and a return on equity of 15.30%. The business had revenue of $28.58 million during the quarter, compared to the consensus estimate of $27.39 million.

Plumas Bancorp Price Performance

PLBC opened at $44.53 on Wednesday. Plumas Bancorp has a 12 month low of $38.71 and a 12 month high of $49.47. The stock’s 50 day moving average price is $44.27 and its 200 day moving average price is $43.18. The stock has a market cap of $309.75 million, a P/E ratio of 10.43 and a beta of 0.60.

Institutional Investors Weigh In On Plumas Bancorp

Several hedge funds have recently bought and sold shares of PLBC. BNP Paribas Financial Markets lifted its stake in Plumas Bancorp by 33.1% during the third quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 305 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Plumas Bancorp by 623.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 1,410 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Plumas Bancorp in the first quarter valued at approximately $78,000. Jane Street Group LLC bought a new stake in Plumas Bancorp during the first quarter worth $255,000. Finally, Squarepoint Ops LLC grew its holdings in shares of Plumas Bancorp by 43.9% during the 3rd quarter. Squarepoint Ops LLC now owns 9,181 shares of the financial services provider’s stock valued at $396,000 after purchasing an additional 2,803 shares during the last quarter. 41.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLBC has been the subject of a number of research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Plumas Bancorp in a report on Monday, December 29th. Piper Sandler reduced their target price on shares of Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, Plumas Bancorp has an average rating of “Buy” and an average price target of $55.50.

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.