Plumas Bancorp (NASDAQ:PLBC) Stock Crosses Below 200-Day Moving Average - What's Next?

Plumas Bancorp (NASDAQ:PLBC - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $44.40 and traded as low as $41.94. Plumas Bancorp shares last traded at $43.18, with a volume of 11,261 shares traded.

Analysts Set New Price Targets

Separately, Piper Sandler cut their price objective on shares of Plumas Bancorp from $60.00 to $59.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th.

Plumas Bancorp Stock Up 1.1%

The firm has a market capitalization of $263.53 million, a P/E ratio of 9.00 and a beta of 0.62. The firm's 50-day simple moving average is $43.33 and its 200-day simple moving average is $44.35.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.07. Plumas Bancorp had a net margin of 31.18% and a return on equity of 16.58%. The company had revenue of $21.50 million during the quarter, compared to the consensus estimate of $20.62 million. During the same period in the previous year, the firm posted $1.05 EPS. As a group, analysts expect that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

Plumas Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, May 1st. Plumas Bancorp's dividend payout ratio is currently 24.29%.

Insider Activity at Plumas Bancorp

In related news, Director Michael Kevin Foster bought 581 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average cost of $43.99 per share, for a total transaction of $25,558.19. Following the acquisition, the director now directly owns 1,581 shares of the company's stock, valued at $69,548.19. The trade was a 58.10% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Plumas Bancorp

A number of large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Plumas Bancorp by 3.1% in the first 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 last quarter. The Manufacturers Life Insurance Company raised its holdings in 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 valued at $8,084,000 after buying an additional 537 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in Plumas Bancorp during the 4th quarter valued at $32,000. Wells Fargo & Company MN grew its holdings in Plumas Bancorp by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 3,221 shares of the financial services provider's stock worth $152,000 after acquiring an additional 703 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Plumas Bancorp by 447.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,106 shares of the financial services provider's stock worth $52,000 after acquiring an additional 904 shares during the last quarter. 41.68% of the stock is owned by hedge funds and other institutional investors.

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.