Plumas Bancorp (NASDAQ:PLBC) Shares Pass Above 200 Day Moving Average – Here’s Why

Plumas Bancorp (NASDAQ:PLBC) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $47.90 and traded as high as $52.75. Plumas Bancorp shares last traded at $52.31, with a volume of 76,073 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Stephens upped their price objective on Plumas Bancorp from $57.00 to $60.00 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. Piper Sandler upped their price objective on Plumas Bancorp from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Finally, Wall Street Zen raised Plumas Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $57.67.

Plumas Bancorp Stock Up 0.8%

The company has a fifty day moving average of $50.37 and a two-hundred day moving average of $47.90. The company has a market cap of $364.60 million, a PE ratio of 11.08 and a beta of 0.61. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.85 and a current ratio of 0.85.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07. Plumas Bancorp had a return on equity of 15.16% and a net margin of 26.67%.The company had revenue of $28.14 million for the quarter, compared to analyst estimates of $27.24 million. As a group, analysts anticipate that Plumas Bancorp will post 5.64 earnings per share for the current fiscal year.

Plumas Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, May 1st. Plumas Bancorp’s dividend payout ratio is presently 27.97%.

Insiders Place Their Bets

In related news, Director Kenneth Edward Robison III sold 800 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $52.76, for a total transaction of $42,208.00. Following the sale, the director owned 1,875 shares in the company, valued at approximately $98,925. This represents a 29.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 7.40% of the company’s stock.

Institutional Trading of Plumas Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of PLBC. EverSource Wealth Advisors LLC raised its holdings in Plumas Bancorp by 44,800.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 898 shares of the financial services provider’s stock valued at $39,000 after buying an additional 896 shares during the period. Blue Trust Inc. purchased a new stake in Plumas Bancorp during the 1st quarter valued at $40,000. Abound Financial LLC bought a new position in Plumas Bancorp in the 4th quarter valued at $43,000. CWM LLC grew its position in Plumas Bancorp by 408.9% in the 3rd quarter. CWM LLC now owns 1,089 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 875 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in 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 valued at $53,000 after acquiring an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

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.