Plumas Bancorp (NASDAQ:PLBC) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Plumas Bancorp (NASDAQ:PLBC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $48.40 and traded as high as $53.21. Plumas Bancorp shares last traded at $52.84, with a volume of 36,711 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Plumas Bancorp in a report on Monday, April 27th. Stephens upped their price target on Plumas Bancorp from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Wall Street Zen raised Plumas Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Piper Sandler upped their price target on Plumas Bancorp from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Plumas Bancorp currently has an average rating of “Buy” and a consensus target price of $57.67.

Plumas Bancorp Stock Up 0.2%

The stock has a market capitalization of $368.29 million, a price-to-earnings ratio of 11.19 and a beta of 0.61. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $50.82 and a two-hundred day moving average of $48.40.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07. Plumas Bancorp had a return on equity of 15.16% and a net margin of 26.67%.The firm had revenue of $28.14 million for the quarter, compared to analyst estimates of $27.24 million. As a group, sell-side analysts anticipate that Plumas Bancorp will post 5.64 earnings per share for the current year.

Plumas Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, May 1st. Plumas Bancorp’s dividend payout ratio is presently 27.97%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its position in Plumas Bancorp by 2.0% in the 4th quarter. AQR Capital Management LLC now owns 11,684 shares of the financial services provider’s stock worth $522,000 after purchasing an additional 226 shares during the last quarter. BNP Paribas Financial Markets increased its position in Plumas Bancorp by 33.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 305 shares during the last quarter. Renaissance Technologies LLC increased its position in Plumas Bancorp by 3.5% in the 4th quarter. Renaissance Technologies LLC now owns 11,700 shares of the financial services provider’s stock worth $523,000 after purchasing an additional 395 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Plumas Bancorp by 3.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,674 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 459 shares during the last quarter. Finally, Caldwell Sutter Capital Inc. increased its position in Plumas Bancorp by 0.6% in the 4th quarter. Caldwell Sutter Capital Inc. now owns 106,283 shares of the financial services provider’s stock worth $4,750,000 after purchasing an additional 599 shares during the last quarter. 41.68% of the stock is owned by institutional investors and hedge funds.

Plumas Bancorp Company Profile

Plumas Bancorp (NASDAQ:PLBC) is a bank holding company headquartered in Quincy, California, and the parent of Plumas Bank. The company focuses on community banking, delivering personalized financial solutions to individuals, families, small businesses and agricultural clients. Through its subsidiary, Plumas Bank offers a comprehensive range of deposit and lending products designed to meet the unique needs of customers in Northern California’s rural and semi-rural markets.

Plumas Bank’s product lineup includes checking and savings accounts, money market funds and certificates of deposit, alongside a variety of consumer lending options such as residential mortgages, home equity lines of credit and installment loans.