Plumas Bancorp (NASDAQ:PLBC) Issues Quarterly Earnings Results, Misses Estimates By $0.15 EPS

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

Plumas Bancorp Price Performance

Shares of PLBC stock traded up $0.10 during trading hours on Friday, hitting $42.09. The stock had a trading volume of 13,778 shares, compared to its average volume of 12,232. Plumas Bancorp has a one year low of $35.76 and a one year high of $51.33. The stock's 50-day moving average price is $44.13 and its two-hundred day moving average price is $44.04. The stock has a market capitalization of $249.59 million, a price-to-earnings ratio of 8.68 and a beta of 0.61.

Plumas Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a $0.30 dividend. The ex-dividend date is Friday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.85%. Plumas Bancorp's dividend payout ratio (DPR) is 24.74%.

Wall Street Analysts Forecast Growth

PLBC has been the topic of a number of recent analyst reports. Piper Sandler decreased their price target on Plumas Bancorp from $65.00 to $64.00 and set an "overweight" rating on the stock in a report on Thursday. Raymond James Financial reissued an "outperform" rating and set a $50.00 price target (up from $48.00) on shares of Plumas Bancorp in a report on Tuesday, July 8th.

Insider Activity

In other news, Director Michael Kevin Foster bought 581 shares of Plumas Bancorp stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average cost of $43.99 per share, with a total value of $25,558.19. Following the completion of the acquisition, the director owned 1,581 shares of the company's stock, valued at $69,548.19. This trade represents a 58.10% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.70% of the company's stock.

Institutional Investors Weigh In On Plumas Bancorp

A hedge fund recently bought a new stake in Plumas Bancorp stock. Acadian Asset Management LLC bought a new position in Plumas Bancorp (NASDAQ:PLBC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 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.

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.