Plumas Bancorp (NASDAQ:PLBC) Issues Quarterly Earnings Results

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

Plumas Bancorp Stock Performance

Shares of NASDAQ PLBC traded up $0.05 during midday trading on Friday, reaching $42.04. 5,530 shares of the company traded hands, compared to its average volume of 12,153. The firm has a market cap of $249.27 million, a PE ratio of 8.67 and a beta of 0.61. The stock's 50-day simple moving average is $44.16 and its 200-day simple moving average is $44.09. Plumas Bancorp has a 12 month low of $35.76 and a 12 month high of $51.33.

Plumas Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.85%. Plumas Bancorp's payout ratio is presently 24.29%.

Insider Activity

In other Plumas Bancorp news, Director Michael Kevin Foster purchased 581 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired 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 directly owned 1,581 shares of the company's stock, valued at $69,548.19. This represents a 58.10% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.70% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Plumas Bancorp stock. Acadian Asset Management LLC purchased a new stake in Plumas Bancorp (NASDAQ:PLBC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,829 shares of the financial services provider's stock, valued at approximately $78,000. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PLBC shares. Piper Sandler reduced their target price on Plumas Bancorp from $65.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday. Raymond James Financial reaffirmed an "outperform" rating and issued a $50.00 target price (up from $48.00) on shares of Plumas Bancorp in a research report on Tuesday, July 8th.

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.