Plumas Bancorp (NASDAQ:PLBC) Stock Passes Below 200 Day Moving Average - Here's What Happened

Plumas Bancorp (NASDAQ:PLBC - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their price objective on Plumas Bancorp from $60.00 to $59.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th.

Plumas Bancorp Stock Performance

The stock has a market cap of $260.03 million, a PE ratio of 8.88 and a beta of 0.62. The stock has a fifty day moving average price of $43.20 and a 200 day moving average price of $44.39.

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, beating analysts' consensus estimates of $1.13 by $0.07. Plumas Bancorp had a return on equity of 16.58% and a net margin of 31.18%. The company had revenue of $21.50 million during the quarter, compared to analysts' expectations of $20.62 million. During the same quarter in the previous year, the business earned $1.05 EPS. As a group, equities analysts anticipate that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Thursday, May 1st. Plumas Bancorp's dividend payout ratio (DPR) is presently 24.29%.

Insider Buying and Selling at Plumas Bancorp

In other news, Director Michael Kevin Foster bought 581 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was acquired at an average cost of $43.99 per share, with a total value of $25,558.19. Following the transaction, the director now directly owns 1,581 shares in the company, valued at approximately $69,548.19. This trade represents a 58.10% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Nuveen LLC bought a new position in shares of Plumas Bancorp in the 1st quarter worth $103,720,000. The Manufacturers Life Insurance Company increased its position 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 in the last quarter. De Lisle Partners LLP increased its position in Plumas Bancorp by 1.7% during the 1st quarter. De Lisle Partners LLP now owns 164,818 shares of the financial services provider's stock valued at $7,183,000 after buying an additional 2,825 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Plumas Bancorp by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 83,391 shares of the financial services provider's stock valued at $3,941,000 after buying an additional 3,121 shares in the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. increased its position in Plumas Bancorp by 5.9% during the 1st quarter. Elizabeth Park Capital Advisors Ltd. now owns 53,778 shares of the financial services provider's stock valued at $2,327,000 after buying an additional 3,000 shares in the last quarter. 41.68% of the stock is owned by institutional investors.

Plumas Bancorp Company Profile

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.