Plumas Bancorp (NASDAQ:PLBC) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Plumas Bancorp's stock price has recently crossed above its 200-day moving average, indicating potential bullish momentum, with a last traded price of $43.70.
• The company reported earnings per share of $1.05 in the last quarter, missing analysts' expectations of $1.20, and has a market capitalization of $303.72 million.
• The recent quarterly dividend announced for shareholders was $0.30, representing an annual yield of 2.7% with a payout ratio of 24.74%.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $43.18 and traded as high as $44.17. Plumas Bancorp shares last traded at $43.70, with a volume of 10,478 shares traded.

Analyst Ratings Changes

PLBC has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on shares of Plumas Bancorp from $65.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, July 17th. Raymond James Financial reissued an "outperform" rating and issued a $50.00 target price (up previously from $48.00) on shares of Plumas Bancorp in a report on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $58.00.

Plumas Bancorp Price Performance

The stock has a fifty day moving average of $43.12 and a 200 day moving average of $43.14. The firm has a market capitalization of $314.90 million, a P/E ratio of 9.34 and a beta of 0.68.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.05 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.15). The company had revenue of $20.54 million during the quarter, compared to the consensus estimate of $21.00 million. Plumas Bancorp had a return on equity of 15.71% and a net margin of 30.81%.During the same period last year, the firm posted $1.14 EPS. Equities analysts forecast that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

Plumas Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. Plumas Bancorp's payout ratio is presently 24.74%.

Insider Buying and Selling at Plumas Bancorp

In other news, EVP Aaron M. Boigon sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $41.09, for a total transaction of $61,635.00. Following the transaction, the executive vice president owned 4,100 shares of the company's stock, valued at approximately $168,469. The trade was a 26.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Kevin Foster bought 749 shares of the business's stock in a transaction on Monday, July 21st. The stock was bought at an average price of $42.56 per share, for a total transaction of $31,877.44. Following the purchase, the director directly owned 2,330 shares of the company's stock, valued at $99,164.80. The trade was a 47.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLBC. Wealth Enhancement Advisory Services LLC grew its stake in shares of Plumas Bancorp by 3.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,014 shares of the financial services provider's stock valued at $563,000 after acquiring an additional 386 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Plumas Bancorp by 447.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,106 shares of the financial services provider's stock valued at $52,000 after buying an additional 904 shares during the last quarter. Abound Financial LLC bought a new position in shares of Plumas Bancorp during the 1st quarter worth approximately $42,000. Corton Capital Inc. increased its stake in shares of Plumas Bancorp by 17.5% in the 1st quarter. Corton Capital Inc. now owns 6,630 shares of the financial services provider's stock valued at $287,000 after buying an additional 988 shares during the period. Finally, Barclays PLC lifted its holdings in Plumas Bancorp by 15.3% during the fourth quarter. Barclays PLC now owns 8,251 shares of the financial services provider's stock worth $390,000 after acquiring an additional 1,096 shares in the last quarter. 41.68% of the stock is currently owned by institutional investors and hedge funds.

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.