Plumas Bancorp (NASDAQ:PLBC) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Plumas Bancorp (NASDAQ:PLBC)’s share price 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 changing hands.

Analyst Upgrades and Downgrades

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

Plumas Bancorp Stock Up 0.1%

The stock has a market cap of $366.83 million, a P/E ratio of 11.15 and a beta of 0.61. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $51.00 and its 200 day moving average is $48.50.

Plumas Bancorp (NASDAQ:PLBC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. The firm had revenue of $28.14 million for the quarter, compared to the consensus estimate of $27.24 million. Plumas Bancorp had a net margin of 26.67% and a return on equity of 15.16%. As a group, equities research analysts forecast that Plumas Bancorp will post 5.64 EPS for the current year.

Plumas Bancorp Announces Dividend

The business also recently declared 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 was Friday, May 1st. Plumas Bancorp’s dividend payout ratio (DPR) is currently 27.97%.

Institutional Trading of Plumas Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of PLBC. EverSource Wealth Advisors LLC grew its position in Plumas Bancorp by 44,800.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 898 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 896 shares during the last quarter. Blue Trust Inc. acquired a new stake in Plumas Bancorp in the 1st quarter worth $40,000. Abound Financial LLC acquired a new stake in Plumas Bancorp in the 4th quarter worth $43,000. BNP Paribas Financial Markets grew 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. Finally, Tower Research Capital LLC TRC grew its position in Plumas Bancorp by 623.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 1,410 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 (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.