Plumas Bancorp (NASDAQ:PLBC) Stock Passes Above 200-Day Moving Average After Insider Selling

Key Points

• Plumas Bancorp's stock has recently crossed above its 200-day moving average of $43.26, closing at $42.26 with a trading volume of 11,616 shares.
• Analysts provided mixed price target expectations, with Piper Sandler lowering its target to $64.00 while Raymond James raised it to $50.00, reflecting a consensus rating of "Buy" and an average target price of $58.00.
• The company reported a miss in earnings for the last quarter, with an EPS of $1.05 against an expected $1.20, and announced a quarterly dividend of $0.30 per share with a 2.8% yield.

Shares of Plumas Bancorp (NASDAQ:PLBC - Get Free Report) crossed above its two hundred day moving average during trading on Monday following insider buying activity. The stock has a two hundred day moving average of $43.26 and traded as high as $43.70. Plumas Bancorp shares last traded at $42.26, with a volume of 11,616 shares changing hands.

Analysts Set New Price Targets

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

Plumas Bancorp Trading Down 3.3%

The stock has a market cap of $293.71 million, a P/E ratio of 8.71 and a beta of 0.63. The firm's fifty day moving average is $43.00 and its 200 day moving average is $43.26.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.15). The firm 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 quarter last year, the business earned $1.14 EPS. Research analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.30 per share. The ex-dividend date was Friday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. Plumas Bancorp's payout ratio is presently 24.74%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased 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 purchasing an additional 386 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Plumas Bancorp by 0.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 171,063 shares of the financial services provider's stock worth $8,084,000 after purchasing an additional 537 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Plumas Bancorp by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 3,221 shares of the financial services provider's stock worth $152,000 after purchasing an additional 703 shares during the period. Tower Research Capital LLC TRC increased its holdings 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 worth $52,000 after purchasing an additional 904 shares during the period. Finally, Abound Financial LLC bought a new position in shares of Plumas Bancorp during the 1st quarter worth about $42,000. Institutional investors own 41.68% of the company's stock.

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.

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