Plumas Bancorp's Q2 EPS beats on loan growth and Cornerstone acquisition
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PLBC
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Outlook
Company did not provide specific guidance for future quarters or full-year results in press release
Overview
U.S. community bank's Q2 EPS beat analyst expectations on record earnings
Net interest income rose, driven by loan growth and Cornerstone acquisition
Loans and deposits surged, reflecting impact of Cornerstone acquisition
Result drivers
Cornerstone acquisition - Q2 results reflect significant increases in loans and deposits, net interest income, and non-interest income, primarily due to the Cornerstone Community Bank acquisition
Higher loan yields - Average loan yields increased, aided by discount amortization on acquired loans and repricing of commercial real estate loans
Key details and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
Beat
$1.41
$1.35 (3 Analysts)
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
