Plumas Bancorp (NASDAQ:PLBC) Posts Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Plumas Bancorp reported quarterly EPS of $1.41, topping analyst estimates by $0.04. Revenue also came in ahead of expectations at $28.76 million versus the $28.02 million consensus.
• The company showed solid profitability metrics, with a net margin of 26.67% and return on equity of 15.16%. Its shares opened at $58.32 and are trading near the upper end of the 12-month range.
• Analysts remain generally bullish on PLBC, with several recent Buy/Overweight ratings and an average target price of $61.50. Institutional investors also increased or initiated positions in the stock during the latest quarter.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) issued its earnings results on Wednesday. The financial services provider reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.04, FiscalAI reports. The business had revenue of $28.76 million for the quarter, compared to the consensus estimate of $28.02 million. Plumas Bancorp had a net margin of 26.67% and a return on equity of 15.16%.

Plumas Bancorp Stock Performance

Shares of PLBC stock opened at $58.32 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.85. The company's fifty day moving average price is $54.97 and its two-hundred day moving average price is $51.42. The firm has a market capitalization of $406.49 million, a P/E ratio of 12.36 and a beta of 0.59. Plumas Bancorp has a 12 month low of $39.70 and a 12 month high of $60.47.

Institutional Trading of Plumas Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd purchased a new position in Plumas Bancorp in the fourth quarter valued at about $415,000. Man Group plc increased its holdings in Plumas Bancorp by 24.3% during the 4th quarter. Man Group plc now owns 17,459 shares of the financial services provider's stock worth $780,000 after purchasing an additional 3,416 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Plumas Bancorp by 2.0% in the 4th quarter. AQR Capital Management LLC now owns 11,684 shares of the financial services provider's stock valued at $522,000 after purchasing an additional 226 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Plumas Bancorp by 42.3% during the 4th quarter. Squarepoint Ops LLC now owns 13,064 shares of the financial services provider's stock valued at $584,000 after buying an additional 3,883 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Plumas Bancorp by 17.4% during the 4th quarter. Barclays PLC now owns 11,116 shares of the financial services provider's stock valued at $497,000 after buying an additional 1,651 shares during the last quarter. 41.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLBC has been the topic of a number of recent research reports. Weiss Ratings restated a "buy (b)" rating on shares of Plumas Bancorp in a research note on Monday, April 27th. Stephens raised their target price on Plumas Bancorp from $57.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Wall Street Zen raised Plumas Bancorp from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Piper Sandler upped their price target on Plumas Bancorp from $59.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Plumas Bancorp currently has an average rating of "Buy" and an average target price of $61.50.

About Plumas Bancorp

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.

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