Plumas Bancorp (NASDAQ:PLBC) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Plumas Bancorp's stock price exceeded its 200-day moving average for the first time on Wednesday, trading at a high of $46.65 before closing at $42.80.
• Analysts have a consensus rating of "Buy" for Plumas Bancorp, with a target price of $58.00, although Piper Sandler recently lowered its target to $64.00.
• In recent insider transactions, Director Michael Kevin Foster increased his position in the company by acquiring 749 shares worth approximately $31,877, while EVP Aaron M. Boigon sold 1,500 shares.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $43.07 and traded as high as $46.65. Plumas Bancorp shares last traded at $42.80, with a volume of 12,951 shares.

Analyst Upgrades and Downgrades

Several research analysts have commented on PLBC shares. Weiss Ratings restated a "buy (b)" rating on shares of Plumas Bancorp in a research note on Wednesday, October 8th. Piper Sandler cut their target price on Plumas Bancorp from $65.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $50.00 price target (up previously from $48.00) on shares of Plumas Bancorp in a research report on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Plumas Bancorp currently has a consensus rating of "Buy" and a consensus target price of $58.00.

Plumas Bancorp Trading Up 0.1%

The company has a market capitalization of $297.33 million, a PE ratio of 8.82 and a beta of 0.68. The stock has a fifty day moving average of $42.91 and a two-hundred day moving average of $43.07.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last announced 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 firm had revenue of $20.54 million for the quarter, compared to analysts' expectations of $21.00 million. Plumas Bancorp had a net margin of 30.81% and a return on equity of 15.71%. During the same period in the prior year, the business posted $1.14 earnings per share. Equities analysts forecast that Plumas Bancorp will post 4.51 EPS for the current year.

Insider Transactions at Plumas Bancorp

In other news, Director Michael Kevin Foster acquired 749 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were bought at an average cost of $42.56 per share, with a total value of $31,877.44. Following the acquisition, the director owned 2,330 shares in the company, valued at approximately $99,164.80. This represents a 47.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Aaron M. Boigon sold 1,500 shares of Plumas Bancorp stock in a transaction that occurred on Thursday, August 21st. The stock was 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 directly owned 4,100 shares in the company, valued at $168,469. This trade represents a 26.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.70% of the company's stock.

Hedge Funds Weigh In On Plumas Bancorp

A number of large investors have recently bought and sold shares of PLBC. Nuveen LLC purchased a new position in Plumas Bancorp in the 1st quarter worth approximately $103,720,000. Fourthstone LLC purchased a new position in Plumas Bancorp in the 2nd quarter worth approximately $1,277,000. Albert D Mason Inc. grew its position in shares of Plumas Bancorp by 41.7% in the 3rd quarter. Albert D Mason Inc. now owns 44,778 shares of the financial services provider's stock worth $1,932,000 after buying an additional 13,185 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Plumas Bancorp in the 2nd quarter worth approximately $416,000. Finally, Kennedy Capital Management LLC grew its position in shares of Plumas Bancorp by 42.7% in the 2nd quarter. Kennedy Capital Management LLC now owns 27,423 shares of the financial services provider's stock worth $1,219,000 after buying an additional 8,204 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.

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