Plumas Bancorp (NASDAQ:PLBC) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Plumas Bancorp shares rose above their 200-day moving average, reaching $62.29 and last trading at $62.19, compared with the $53.71 long-term average.
• Analyst sentiment is positive: the stock has a consensus “Buy” rating and a $66.33 average price target, with several firms recently raising their targets.
• The company exceeded quarterly earnings expectations, reporting $1.41 in EPS versus $1.37 expected, and declared a $0.33 quarterly dividend, equivalent to a 2.1% yield.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $53.71 and traded as high as $62.29. Plumas Bancorp shares last traded at $62.19, with a volume of 28,754 shares.

Analyst Ratings Changes

PLBC has been the subject of several recent analyst reports. Stephens raised their target price on shares of Plumas Bancorp from $60.00 to $64.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Wall Street Zen raised Plumas Bancorp from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. Piper Sandler upped their price objective on Plumas Bancorp from $66.00 to $69.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Raymond James Financial reaffirmed an "outperform" rating and issued a $66.00 price objective on shares of Plumas Bancorp in a research report on Thursday, July 16th. Finally, Weiss Ratings upgraded Plumas Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $66.33.

Plumas Bancorp Trading Up 1.4%

The company has a market cap of $432.84 million, a price-to-earnings ratio of 12.24 and a beta of 0.60. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The business's 50 day moving average price is $58.63 and its 200-day moving average price is $53.71.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.04. The business had revenue of $28.76 million for the quarter, compared to analyst estimates of $28.02 million. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.41%. On average, equities analysts anticipate that Plumas Bancorp will post 5.71 EPS for the current fiscal year.

Plumas Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, August 3rd. Plumas Bancorp's payout ratio is currently 25.98%.

Hedge Funds Weigh In On Plumas Bancorp

A number of large investors have recently made changes to their positions in the company. Allworth Financial LP acquired a new stake in Plumas Bancorp during the 2nd quarter worth approximately $697,000. Alpine Woods Capital Investors LLC acquired a new position in Plumas Bancorp in the 2nd quarter valued at $234,000. BlackRock Inc. acquired a new position in Plumas Bancorp in the 2nd quarter valued at $26,754,000. Deutsche Bank AG bought a new position in Plumas Bancorp during the 2nd quarter worth $376,000. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Plumas Bancorp during the second quarter worth $2,479,000. 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.

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