Plumas Bancorp (NASDAQ:PLBC) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Plumas Bancorp (NASDAQ:PLBC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $55.62 and traded as high as $63.37. Plumas Bancorp shares last traded at $62.35, with a volume of 63,967 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PLBC. Stephens upped their price objective on Plumas Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded Plumas Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, August 7th. Wall Street Zen lowered Plumas Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Raymond James Financial restated an “outperform” rating and issued a $66.00 price target on shares of Plumas Bancorp in a research report on Thursday, July 16th. Finally, Piper Sandler boosted their price objective on shares of Plumas Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $66.33.

Plumas Bancorp Price Performance

The firm has a fifty day simple moving average of $61.62 and a 200 day simple moving average of $55.71. The company has a market capitalization of $435.36 million, a PE ratio of 12.34 and a beta of 0.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86.

Plumas Bancorp (NASDAQ:PLBC) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.04. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.41%. The company had revenue of $28.76 million for the quarter, compared to analysts’ expectations of $28.02 million. Equities analysts anticipate that Plumas Bancorp will post 5.71 EPS for the current year.

Plumas Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 2.1%. Plumas Bancorp’s payout ratio is 25.98%.

Insider Transactions at Plumas Bancorp

In related news, EVP Kevin Kaiser sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $61.50, for a total transaction of $73,800.00. Following the completion of the transaction, the executive vice president owned 719 shares in the company, valued at $44,218.50. The trade was a 62.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC purchased a new stake in Plumas Bancorp in the second quarter valued at $226,000. Engineers Gate Manager LP acquired a new position in shares of Plumas Bancorp during the 2nd quarter worth about $228,000. Odyssean LLC purchased a new position in shares of Plumas Bancorp in the second quarter valued at approximately $247,000. Susquehanna Fundamental Investments LLC acquired a new stake in Plumas Bancorp during the 2nd quarter worth $299,000. Finally, Hsbc Holdings PLC grew its position in shares of Plumas Bancorp by 15.5% in the second quarter. Hsbc Holdings PLC now owns 8,874 shares of the financial services provider’s stock valued at $516,000 after purchasing an additional 1,190 shares in the last quarter. 41.68% of the stock is currently owned by hedge funds and other institutional investors.

About Plumas Bancorp

Plumas Bancorp is a bank holding company headquartered in Reno, Nevada. Through its principal subsidiary, Plumas Bank, the company provides community banking services to individuals, families, professionals, and businesses.

Plumas Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, business loans, agricultural financing, cash-management services, online and mobile banking, and other financial services. The bank also provides wealth management and trust-related services through affiliated or related offerings, where available.

Founded in 1980, Plumas Bank has historically focused on communities in northeastern California and northwestern Nevada.