Plumas Bancorp (NASDAQ:PLBC) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Plumas Bancorp shares broke above their 200-day moving average, reaching $61.71 and closing near $61.31, compared with a 200-day average of $52.88.
• Analyst sentiment is broadly positive: four analysts rate the stock a Buy, with a consensus price target of $66.33. Piper Sandler raised its target to $69, while Raymond James and Stephens also maintained favorable ratings.
• The company exceeded quarterly expectations, reporting $1.41 in EPS and $28.76 million in revenue, and announced a $0.33 quarterly dividend, representing a 2.2% annualized yield.

Shares of Plumas Bancorp (NASDAQ:PLBC - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $52.88 and traded as high as $61.71. Plumas Bancorp shares last traded at $61.31, with a volume of 35,652 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Plumas Bancorp from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Raymond James Financial reissued an "outperform" rating and issued a $66.00 price target on shares of Plumas Bancorp in a report on Thursday, July 16th. Piper Sandler upped their price target on shares of Plumas Bancorp from $66.00 to $69.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Plumas Bancorp in a report on Friday, July 24th. Finally, Stephens increased their price objective on Plumas Bancorp from $60.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $66.33.

Plumas Bancorp Stock Performance

The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. The company has a market cap of $427.33 million, a P/E ratio of 12.07 and a beta of 0.59. The business has a fifty day moving average of $57.41 and a 200 day moving average of $52.88.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.04. The business had revenue of $28.76 million for the quarter, compared to analysts' expectations of $28.02 million. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.63%. On average, equities analysts predict that Plumas Bancorp will post 5.71 EPS for the current year.

Plumas Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.2%. Plumas Bancorp's payout ratio is 25.98%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLBC. Jane Street Group LLC bought a new stake in Plumas Bancorp in the 1st quarter valued at $255,000. Acadian Asset Management LLC bought a new position in shares of Plumas Bancorp during the 1st quarter valued at about $78,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Plumas Bancorp by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 180,291 shares of the financial services provider's stock valued at $8,016,000 after purchasing an additional 6,637 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Plumas Bancorp by 623.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider's stock valued at $73,000 after purchasing an additional 1,410 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Plumas Bancorp by 5.2% during the third quarter. Vanguard Group Inc. now owns 306,458 shares of the financial services provider's stock valued at $13,221,000 after purchasing an additional 15,080 shares in the last quarter. 41.68% of the stock is currently owned by institutional investors.

Plumas Bancorp Company Profile

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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