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

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) 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.

Analyst Upgrades and Downgrades

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

Plumas Bancorp Stock Up 1.1%

The stock's 50-day simple moving average is $43.01 and its two-hundred day simple moving average is $43.18. The company has a market capitalization of $316.78 million, a price-to-earnings ratio of 9.40 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 for the quarter, missing analysts' consensus estimates of $1.20 by ($0.15). The company had revenue of $20.54 million for the quarter, compared to analyst estimates of $21.00 million. Plumas Bancorp had a return on equity of 15.71% and a net margin of 30.81%.During the same quarter in the prior year, the company posted $1.14 earnings per share. On average, sell-side analysts forecast that Plumas Bancorp will post 4.51 EPS for the current year.

Plumas Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 2.6%. Plumas Bancorp's dividend payout ratio is currently 24.74%.

Insiders Place Their Bets

In other news, EVP Aaron M. Boigon sold 1,500 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 4,100 shares in the company, valued at $168,469. This represents a 26.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Kevin Foster bought 749 shares of Plumas Bancorp stock in a transaction dated Monday, July 21st. The stock was acquired at an average price of $42.56 per share, with a total value of $31,877.44. Following the completion of the transaction, the director directly owned 2,330 shares of the company's stock, valued at approximately $99,164.80. The trade was a 47.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 7.70% of the company's stock.

Institutional Investors Weigh In On Plumas Bancorp

A number of hedge funds have recently modified their holdings of the business. Nuveen LLC acquired a new stake in shares of Plumas Bancorp in the first quarter valued at about $103,720,000. The Manufacturers Life Insurance Company raised its position in shares of Plumas Bancorp by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 180,291 shares of the financial services provider's stock valued at $8,016,000 after buying an additional 6,637 shares during the last quarter. De Lisle Partners LLP raised its position in shares of Plumas Bancorp by 1.2% in the second quarter. De Lisle Partners LLP now owns 166,818 shares of the financial services provider's stock valued at $7,429,000 after buying an additional 2,000 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. raised its position in shares of Plumas Bancorp by 5.9% in the first 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 during the last quarter. Finally, Northern Trust Corp raised its position in shares of Plumas Bancorp by 3.0% in the fourth quarter. Northern Trust Corp now owns 42,613 shares of the financial services provider's stock valued at $2,014,000 after buying an additional 1,227 shares during the last quarter. 41.68% of the stock is currently owned by institutional investors and hedge funds.

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.

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