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

Key Points

• Plumas Bancorp shares rose above their 200-day moving average of $55.62, reaching $63.37 before closing at $62.35.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and a $66.33 price target; Piper Sandler and Stephens recently raised their targets.
• The bank exceeded quarterly earnings and revenue estimates, reporting $1.41 in EPS and $28.76 million in revenue, while paying a quarterly dividend of $0.33, equivalent to a 2.1% yield.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $55.62 and traded as high as $63.37. Plumas Bancorp shares last traded at $62.35, with a volume of 63,967 shares traded.

Wall Street Analysts Forecast Growth

PLBC has been the subject of several research reports. Piper Sandler upped their price target on shares of Plumas Bancorp from $66.00 to $69.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Weiss Ratings raised shares of Plumas Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday, August 7th. Wall Street Zen lowered shares of Plumas Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Raymond James Financial reiterated an "outperform" rating and issued a $66.00 price target on shares of Plumas Bancorp in a research report on Thursday, July 16th. Finally, Stephens boosted their price objective on shares of Plumas Bancorp from $60.00 to $64.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Plumas Bancorp currently has a consensus rating of "Buy" and a consensus price target of $66.33.

Plumas Bancorp Stock Performance

The firm has a market capitalization of $433.96 million, a PE ratio of 12.27 and a beta of 0.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. The business's fifty day simple moving average is $61.53 and its 200-day simple moving average is $55.62.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last released its earnings results on Wednesday, July 15th. The financial services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.37 by $0.04. The firm had revenue of $28.76 million for the quarter, compared to the consensus estimate of $28.02 million. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.41%. As a group, equities research analysts expect that Plumas Bancorp will post 5.71 EPS for the current year.

Plumas Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, August 3rd. Plumas Bancorp's payout ratio is currently 25.98%.

Insider Buying and Selling at Plumas Bancorp

In other news, EVP Kevin Kaiser sold 1,200 shares of the business's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $61.50, for a total value of $73,800.00. Following the sale, the executive vice president directly owned 719 shares in the company, valued at $44,218.50. The trade was a 62.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plumas Bancorp

Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new stake in shares of Plumas Bancorp in the 2nd quarter valued at approximately $39,000. Blue Trust Inc. bought a new position in shares of Plumas Bancorp during the 1st quarter valued at approximately $40,000. Abound Financial LLC purchased a new stake in Plumas Bancorp during the 4th quarter valued at $43,000. Public Employees Retirement System of Ohio bought a new stake in Plumas Bancorp in the second quarter worth $88,000. Finally, Simplicity Wealth LLC bought a new stake in Plumas Bancorp in the second quarter worth $204,000. 41.68% of the stock is owned by institutional investors.

Plumas Bancorp Company Profile

Plumas Bancorp is a bank holding company headquartered in Reno, Nevada. Through its principal subsidiary, Plumas Bank, the company provides community banking services to individuals, families, professionals, and businesses.

Plumas Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, business loans, agricultural financing, cash-management services, online and mobile banking, and other financial services. The bank also provides wealth management and trust-related services through affiliated or related offerings, where available.

Founded in 1980, Plumas Bank has historically focused on communities in northeastern California and northwestern Nevada.

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