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

Key Points

• Plumas Bancorp beat quarterly expectations: The bank reported $1.61 in EPS, $0.15 above the $1.46 consensus, while revenue reached $29.33 million versus $29.03 million expected. Net margin was 27.39% and return on equity was 15.41%.
• Analyst sentiment remains positive: Plumas Bancorp has a consensus “Buy” rating and a $66.33 average price target, with Stephens and Piper Sandler recently raising their targets to $64 and $69, respectively.
• The stock is trading near its 52-week high: Shares opened at $62.53, compared with a 52-week range of $39.80 to $64.00. An executive vice president recently sold 1,200 shares, while insiders retain a 7.40% ownership stake.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) announced its earnings results on Wednesday. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.15, FiscalAI reports. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.41%. The company had revenue of $29.33 million during the quarter, compared to analysts' expectations of $29.03 million.

Plumas Bancorp Price Performance

Shares of NASDAQ PLBC opened at $62.53 on Wednesday. The stock has a market capitalization of $435.15 million, a PE ratio of 12.31 and a beta of 0.59. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average price of $62.01 and a two-hundred day moving average price of $57.76. Plumas Bancorp has a fifty-two week low of $39.80 and a fifty-two week high of $64.00.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PLBC shares. Stephens raised their price target on shares of Plumas Bancorp from $60.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Weiss Ratings raised shares of Plumas Bancorp from a "buy (b+)" rating to a "buy (a-)" rating in a report on Thursday, October 8th. Raymond James Financial raised shares of Plumas Bancorp to a "moderate buy" rating in a report on Monday, October 12th. Wall Street Zen lowered shares of Plumas Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Finally, Piper Sandler increased their target price on shares of Plumas Bancorp from $66.00 to $69.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, Plumas Bancorp currently has a consensus rating of "Buy" and a consensus target price of $66.33.

Insider Buying and Selling at Plumas Bancorp

In other news, EVP Kevin Kaiser sold 1,200 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $61.50, for a total transaction of $73,800.00. Following the sale, the executive vice president directly owned 719 shares of the company's stock, valued at approximately $44,218.50. This represents a 62.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 7.40% of the company's stock.

About Plumas Bancorp

Plumas Bancorp is the bank holding company for Plumas Bank, a community banking institution serving businesses, individuals and organizations in Northern California and Northwestern Nevada. The company is headquartered in Reno, Nevada, and operates through a network of branches and other banking offices in the region.

Plumas Bank provides a range of deposit and lending products, including checking and savings accounts, certificates of deposit, commercial and small-business loans, agricultural financing, residential real estate loans and consumer credit.

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