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

Key Points

• Plumas Bancorp shares crossed above their 200-day moving average, trading at $45.58, with a recent high of $46.59 and a volume of 25,293 shares.
• The company reported earnings per share of $1.05, missing analysts' expectations of $1.20, and had quarterly revenues of $20.54 million against estimates of $21.00 million.
• Plumas Bancorp also announced a $0.30 quarterly dividend, equating to an annual yield of 2.6% with a dividend payout ratio of 24.74%.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $43.18 and traded as high as $46.59. Plumas Bancorp shares last traded at $45.58, with a volume of 25,293 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Raymond James Financial restated an "outperform" rating and issued a $50.00 price objective (up previously from $48.00) on shares of Plumas Bancorp in a report on Tuesday, July 8th. Piper Sandler reduced their price target on 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 analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $58.00.

Plumas Bancorp Price Performance

The firm has a fifty day simple moving average of $42.85 and a 200-day simple moving average of $43.14. The firm has a market cap of $307.68 million, a P/E ratio of 9.13 and a beta of 0.68.

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

Plumas Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, August 1st. Plumas Bancorp's dividend payout ratio is presently 24.74%.

Insider Activity

In other Plumas Bancorp news, EVP Aaron M. Boigon sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $41.09, for a total value of $61,635.00. Following the completion of the transaction, the executive vice president owned 4,100 shares of the company's stock, valued at $168,469. The trade was a 26.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Kevin Foster bought 749 shares of Plumas Bancorp stock in a transaction that occurred on Monday, July 21st. The shares were acquired at an average cost of $42.56 per share, for a total transaction of $31,877.44. Following the acquisition, the director owned 2,330 shares in the company, valued at $99,164.80. The trade was a 47.38% increase in their position. The disclosure for this purchase can be found here. 9.00% of the stock is owned by insiders.

Institutional Trading of Plumas Bancorp

A number of hedge funds have recently modified their holdings of the business. Nuveen LLC bought a new position in shares of Plumas Bancorp during the first quarter valued at $103,720,000. The Manufacturers Life Insurance Company grew its position in Plumas Bancorp by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 180,291 shares of the financial services provider's stock valued at $8,016,000 after purchasing an additional 6,637 shares during the last quarter. De Lisle Partners LLP grew its position in Plumas Bancorp by 1.2% during the 2nd quarter. De Lisle Partners LLP now owns 166,818 shares of the financial services provider's stock valued at $7,429,000 after purchasing an additional 2,000 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. increased its stake 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 purchasing an additional 3,000 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Plumas Bancorp by 3.0% in the fourth quarter. Northern Trust Corp now owns 42,613 shares of the financial services provider's stock worth $2,014,000 after buying an additional 1,227 shares during the last quarter. 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.