Plumas Bancorp (NASDAQ:PLBC) Stock Price Crosses 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.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday after an insider bought additional shares in the company. The stock has a 200-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 trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PLBC. Raymond James Financial reissued an "outperform" rating and issued a $50.00 price objective (up from $48.00) on shares of Plumas Bancorp in a report on Tuesday, July 8th. Piper Sandler reduced their price target on shares of Plumas Bancorp from $65.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, July 17th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Plumas Bancorp currently has an average rating of "Buy" and an average price target of $58.00.

Plumas Bancorp Trading Up 0.9%

The company has a market cap of $301.56 million, a price-to-earnings ratio of 8.95 and a beta of 0.63. The business has a fifty day moving average of $43.08 and a two-hundred day moving average of $43.22.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.05 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.15). Plumas Bancorp had a net margin of 30.81% and a return on equity of 15.71%. The business had revenue of $20.54 million during the quarter, compared to analysts' expectations of $21.00 million. During the same quarter last year, the firm earned $1.14 earnings per share. On average, research analysts forecast that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

Plumas Bancorp Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Abound Financial LLC purchased 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 worth $52,000 after purchasing an additional 904 shares during the period. Copeland Capital Management LLC purchased a new stake in Plumas Bancorp in the first quarter valued at approximately $53,000. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 1,227 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Plumas Bancorp by 623.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider's stock worth $73,000 after buying an additional 1,410 shares during the period. Institutional investors and hedge funds 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.