Plumas Bancorp (NASDAQ:PLBC) Releases Earnings Results, Beats Estimates By $0.07 EPS

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) announced its earnings results on Wednesday. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.07, Zacks reports. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. The company had revenue of $21.50 million for the quarter, compared to analyst estimates of $20.62 million. During the same quarter in the previous year, the company earned $1.05 earnings per share.

Plumas Bancorp Stock Down 1.1 %

Plumas Bancorp stock traded down $0.46 during trading on Monday, reaching $40.62. The stock had a trading volume of 891 shares, compared to its average volume of 10,998. Plumas Bancorp has a 52-week low of $32.50 and a 52-week high of $51.33. The business has a 50 day moving average price of $43.22 and a 200 day moving average price of $44.70. The stock has a market cap of $240.47 million, a PE ratio of 8.48 and a beta of 0.55.

Plumas Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.95%. Plumas Bancorp's payout ratio is 24.29%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PLBC. Raymond James restated an "outperform" rating and set a $54.00 target price (up from $49.00) on shares of Plumas Bancorp in a report on Thursday, January 30th. Piper Sandler cut their target price on shares of Plumas Bancorp from $60.00 to $59.00 and set an "overweight" rating on the stock in a research note on Thursday.

Insider Activity

In other Plumas Bancorp news, Director Michael Kevin Foster purchased 1,000 shares of the business's stock in a transaction on Thursday, February 20th. The shares were bought at an average cost of $45.67 per share, for a total transaction of $45,670.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at approximately $45,670. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.00% of the company's stock.

Plumas Bancorp Company Profile

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.