Plumas Bancorp (NASDAQ:PLBC) Announces Earnings Results

Plumas Bancorp (NASDAQ:PLBC) posted its earnings results on Wednesday. The financial services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.15), Zacks reports. Plumas Bancorp had a return on equity of 15.94% and a net margin of 30.81%. The business had revenue of $20.54 million for the quarter, compared to the consensus estimate of $21.00 million. During the same period in the previous year, the firm earned $1.14 earnings per share.

Plumas Bancorp Price Performance

NASDAQ PLBC opened at $41.99 on Friday. The firm has a market cap of $249.00 million, a PE ratio of 8.66 and a beta of 0.61. Plumas Bancorp has a one year low of $35.76 and a one year high of $51.33. The stock’s 50 day simple moving average is $44.16 and its 200 day simple moving average is $44.09.

Plumas Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, August 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.86%. Plumas Bancorp’s dividend payout ratio (DPR) is presently 24.29%.

Insider Buying and Selling

In other news, Director Michael Kevin Foster acquired 581 shares of Plumas Bancorp stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of $43.99 per share, with a total value of $25,558.19. Following the acquisition, the director owned 1,581 shares in the company, valued at $69,548.19. This represents a 58.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plumas Bancorp

An institutional investor recently bought a new position in Plumas Bancorp stock. Acadian Asset Management LLC purchased a new stake in shares of Plumas Bancorp (NASDAQ:PLBC) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 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 Ratings Changes

Several research analysts recently issued reports on PLBC shares. Piper Sandler decreased their price target on shares of Plumas Bancorp from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday. Raymond James Financial reissued an “outperform” rating and set a $50.00 target price (up from $48.00) on shares of Plumas Bancorp in a research note on Tuesday, July 8th.

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.