Plumas Bancorp (NASDAQ:PLBC) Stock Passes Above 200-Day Moving Average - Here's Why

Key Points

• Technical breakout: Shares passed above their 200‑day moving average, trading as high as $51.35 versus a 200‑day MA of $47.17 and last at $51.07 on the session noted.
• Analyst sentiment is bullish: The stock carries a consensus "Buy" with a $57.67 price target, and several brokers raised targets recently (Stephens to $60, Piper Sandler to $63), though one firm cut its rating to "Hold."
• Solid recent results and dividend: Plumas beat Q1 EPS estimates ($1.38 vs. $1.31), showed ~15.7% ROE, and declared a $0.33 quarterly dividend (annualized $1.32, ~2.6% yield).

Shares of Plumas Bancorp (NASDAQ:PLBC - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $47.17 and traded as high as $51.35. Plumas Bancorp shares last traded at $51.07, with a volume of 20,526 shares traded.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PLBC. Stephens upped their target price on Plumas Bancorp from $57.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of Plumas Bancorp in a report on Monday, April 27th. Wall Street Zen cut Plumas Bancorp from a "buy" rating to a "hold" rating in a report on Sunday, February 8th. Finally, Piper Sandler upped their target price on Plumas Bancorp from $59.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $57.67.

Plumas Bancorp Trading Up 1.1%

The stock has a market capitalization of $355.96 million, a P/E ratio of 10.82 and a beta of 0.61. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $50.27 and a 200 day moving average price of $47.17.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. The firm had revenue of $28.14 million during the quarter, compared to analyst estimates of $27.24 million. Plumas Bancorp had a return on equity of 15.68% and a net margin of 26.67%. On average, research analysts forecast that Plumas Bancorp will post 5.64 earnings per share for the current fiscal year.

Plumas Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, May 1st. Plumas Bancorp's payout ratio is presently 27.97%.

Insider Activity at Plumas Bancorp

In related news, Director Kenneth Edward Robison III sold 800 shares of the company's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $52.76, for a total transaction of $42,208.00. Following the transaction, the director directly owned 1,875 shares of the company's stock, valued at $98,925. This represents a 29.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 7.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in Plumas Bancorp by 2.0% during the 4th quarter. AQR Capital Management LLC now owns 11,684 shares of the financial services provider's stock valued at $522,000 after buying an additional 226 shares in the last quarter. BNP Paribas Financial Markets increased its position in Plumas Bancorp by 33.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider's stock valued at $53,000 after buying an additional 305 shares in the last quarter. Renaissance Technologies LLC increased its position in Plumas Bancorp by 3.5% during the 4th quarter. Renaissance Technologies LLC now owns 11,700 shares of the financial services provider's stock valued at $523,000 after buying an additional 395 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Plumas Bancorp by 3.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,674 shares of the financial services provider's stock valued at $576,000 after buying an additional 459 shares in the last quarter. Finally, Caldwell Sutter Capital Inc. increased its position in Plumas Bancorp by 0.6% during the 4th quarter. Caldwell Sutter Capital Inc. now owns 106,283 shares of the financial services provider's stock valued at $4,750,000 after buying an additional 599 shares in the last quarter. 41.68% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.