Plumas Bancorp (NASDAQ:PLBC) Announces Earnings Results, Beats Expectations By $0.04 EPS

Plumas Bancorp (NASDAQ:PLBC) announced its earnings results on Wednesday. The financial services provider reported $1.41 earnings per share (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 analyst estimates of $28.02 million. Plumas Bancorp had a return on equity of 15.16% and a net margin of 26.67%.

Plumas Bancorp Price Performance

PLBC opened at $58.32 on Wednesday. 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. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $54.97 and a 200-day moving average of $51.42.

Institutional Investors Weigh In On Plumas Bancorp

Several institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd bought a new position in shares of Plumas Bancorp during the 4th quarter valued at $415,000. Man Group plc lifted its position in shares of 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 grew its holdings in 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 buying an additional 226 shares during the last quarter. Squarepoint Ops LLC increased its position in Plumas Bancorp by 42.3% in the 4th quarter. Squarepoint Ops LLC now owns 13,064 shares of the financial services provider’s stock worth $584,000 after buying an additional 3,883 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Plumas Bancorp by 17.4% during the fourth quarter. Barclays PLC now owns 11,116 shares of the financial services provider’s stock worth $497,000 after buying an additional 1,651 shares during the last quarter. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PLBC shares. Piper Sandler lifted their price objective on shares of Plumas Bancorp from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Plumas Bancorp in a report on Monday, April 27th. Wall Street Zen raised Plumas Bancorp from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Stephens raised their price objective on Plumas Bancorp from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus 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.