Plumas Bancorp (NASDAQ:PLBC) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Plumas Bancorp's share price surpassed its 200-day moving average on Friday, reaching a high of $45.50 before closing at $43.32.
• The company reported earnings per share (EPS) of $1.05 for the latest quarter, falling short of analysts' expectations of $1.20.
• Plumas Bancorp announced a quarterly dividend of $0.30 per share, resulting in an annualized dividend yield of 2.8%.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $43.14 and traded as high as $45.50. Plumas Bancorp shares last traded at $43.32, with a volume of 122,688 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Plumas Bancorp from $65.00 to $64.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. Raymond James Financial reaffirmed an "outperform" rating and set a $50.00 price target (up previously from $48.00) on shares of Plumas Bancorp in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $58.00.

Plumas Bancorp Stock Performance

The stock has a market cap of $302.92 million, a price-to-earnings ratio of 8.99 and a beta of 0.68. The company's 50 day simple moving average is $42.67 and its two-hundred day simple moving average is $43.12.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.15). The company had revenue of $20.54 million during the quarter, compared to analyst estimates of $21.00 million. Plumas Bancorp had a net margin of 30.81% and a return on equity of 15.71%. During the same quarter in the prior year, the company posted $1.14 EPS. On average, equities research analysts predict that Plumas Bancorp will post 4.51 earnings per share 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 dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 1st. Plumas Bancorp's dividend payout ratio is currently 24.74%.

Insider Buying and Selling at Plumas Bancorp

In other news, Director Michael Kevin Foster acquired 749 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was acquired at an average cost of $42.56 per share, with a total value of $31,877.44. Following the acquisition, the director owned 2,330 shares in the company, valued at approximately $99,164.80. This represents a 47.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Aaron M. Boigon sold 1,500 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $41.09, for a total transaction of $61,635.00. Following the completion of the sale, the executive vice president directly owned 4,100 shares of the company's stock, valued at approximately $168,469. This trade represents a 26.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Plumas Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Plumas Bancorp by 3.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,014 shares of the financial services provider's stock worth $563,000 after acquiring an additional 386 shares during the period. Albert D Mason Inc. boosted its position in Plumas Bancorp by 354.3% in the first quarter. Albert D Mason Inc. now owns 33,979 shares of the financial services provider's stock valued at $1,470,000 after buying an additional 26,500 shares in the last quarter. Citadel Advisors LLC boosted its position in Plumas Bancorp by 64.1% in the fourth quarter. Citadel Advisors LLC now owns 9,187 shares of the financial services provider's stock valued at $434,000 after buying an additional 3,587 shares in the last quarter. Rice Hall James & Associates LLC acquired a new position in Plumas Bancorp in the first quarter valued at about $240,000. Finally, GAMMA Investing LLC boosted its position in Plumas Bancorp by 4,382.1% in the first quarter. GAMMA Investing LLC now owns 1,255 shares of the financial services provider's stock valued at $54,000 after buying an additional 1,227 shares in the last quarter. 41.68% of the stock is owned by institutional investors.

Plumas Bancorp Company Profile

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.