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

Key Points

• Plumas Bancorp beat expectations, reporting quarterly EPS of $1.38 which topped the consensus by $0.07, and revenue of $28.14 million versus estimates of $27.24 million (net margin 26.4%, ROE 15.32%).
• Dividend increased to $0.33 per share for the quarter (up from $0.30), representing a $1.32 annualized payout and a 2.5% yield with a 29.07% payout ratio.
• The stock trades around $52 with a market cap of $362.4M and a P/E of 11.45, while analysts have an average price target of $54.50 and a consensus rating of "Buy."

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) announced its quarterly earnings data on Wednesday. The financial services provider reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.07, FiscalAI reports. The business had revenue of $28.14 million for the quarter, compared to analyst estimates of $27.24 million. Plumas Bancorp had a net margin of 26.40% and a return on equity of 15.32%.

Plumas Bancorp Stock Performance

Shares of PLBC stock opened at $51.99 on Thursday. The stock has a market capitalization of $362.37 million, a price-to-earnings ratio of 11.45 and a beta of 0.59. Plumas Bancorp has a one year low of $39.70 and a one year high of $54.58. The company's 50-day simple moving average is $50.51 and its 200-day simple moving average is $46.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.85 and a current ratio of 0.85.

Plumas Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This is a positive change from Plumas Bancorp's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 2.5%. Plumas Bancorp's dividend payout ratio is 29.07%.

Insider Buying and Selling

In other Plumas Bancorp news, Director Kenneth Edward Robison III sold 800 shares of the firm's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $52.76, for a total value of $42,208.00. Following the transaction, the director owned 1,875 shares of the company's stock, valued at $98,925. This trade represents a 29.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 7.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Plumas Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of Plumas Bancorp by 33.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider's stock worth $53,000 after acquiring an additional 305 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Plumas Bancorp by 623.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider's stock valued at $73,000 after purchasing an additional 1,410 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Plumas Bancorp during the first quarter valued at $78,000. Deutsche Bank AG acquired a new position in shares of Plumas Bancorp in the 4th quarter valued at $194,000. Finally, Marshall Wace LLP purchased a new position in Plumas Bancorp in the 4th quarter worth about $212,000. Institutional investors and hedge funds own 41.68% of the company's stock.

Wall Street Analysts Forecast Growth

PLBC has been the topic of several research reports. Piper Sandler cut their price objective on Plumas Bancorp from $61.00 to $59.00 and set an "overweight" rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Plumas Bancorp in a research report on Monday, December 29th. Finally, Wall Street Zen lowered Plumas Bancorp from a "buy" rating to a "hold" rating in a research note on Sunday, February 8th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $54.50.

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.