Plumas Bancorp (NASDAQ:PLBC) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $45.09 and traded as high as $46.25. Plumas Bancorp shares last traded at $45.64, with a volume of 12,547 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PLBC. Raymond James reaffirmed an "outperform" rating and set a $54.00 price target (up from $49.00) on shares of Plumas Bancorp in a report on Thursday, January 30th. Piper Sandler lowered their target price on shares of Plumas Bancorp from $60.00 to $59.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th.

Plumas Bancorp Stock Down 0.5%

The firm has a market capitalization of $259.28 million, a price-to-earnings ratio of 9.13 and a beta of 0.65. The company has a 50-day moving average price of $42.98 and a 200-day moving average price of $45.11.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.07. The business had revenue of $21.50 million for the quarter, compared to analysts' expectations of $20.62 million. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. During the same period in the previous year, the business earned $1.05 earnings per share. As a group, analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current year.

Plumas Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Thursday, May 1st. Plumas Bancorp's dividend payout ratio (DPR) is presently 24.29%.

Institutional Investors Weigh In On Plumas Bancorp

A number of institutional investors have recently added to or reduced their stakes in PLBC. Picton Mahoney Asset Management bought a new stake in shares of Plumas Bancorp in the 4th quarter worth $32,000. Abound Financial LLC acquired a new stake in Plumas Bancorp in the 1st quarter valued at about $42,000. Tower Research Capital LLC TRC boosted its position in shares of Plumas Bancorp by 447.5% during 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 purchasing an additional 904 shares in the last quarter. Copeland Capital Management LLC acquired a new position in shares of Plumas Bancorp in the 1st quarter worth approximately $53,000. Finally, GAMMA Investing LLC raised its holdings in shares of Plumas Bancorp by 4,382.1% in the 1st quarter. GAMMA Investing LLC now owns 1,255 shares of the financial services provider's stock worth $54,000 after purchasing an additional 1,227 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.