Plumas Bancorp (NASDAQ:PLBC) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Plumas Bancorp (NASDAQ:PLBC)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $52.88 and traded as high as $61.71. Plumas Bancorp shares last traded at $61.31, with a volume of 35,652 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Plumas Bancorp in a report on Friday, July 24th. Wall Street Zen upgraded shares of Plumas Bancorp from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Piper Sandler boosted their target price on shares of Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Raymond James Financial reiterated an “outperform” rating and set a $66.00 price target on shares of Plumas Bancorp in a report on Thursday, July 16th. Finally, Stephens boosted their price objective on Plumas Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $66.33.

Plumas Bancorp Price Performance

The stock has a market cap of $427.33 million, a P/E ratio of 12.07 and a beta of 0.59. The business has a 50-day simple moving average of $57.41 and a 200 day simple moving average of $52.88. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.06.

Plumas Bancorp (NASDAQ:PLBC) last released its earnings results on Wednesday, July 15th. The financial services provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.04. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.63%. The business had revenue of $28.76 million during the quarter, compared to the consensus estimate of $28.02 million. On average, analysts forecast that Plumas Bancorp will post 5.71 earnings per share for the current year.

Plumas Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, August 3rd. Plumas Bancorp’s payout ratio is 25.98%.

Institutional Trading of Plumas Bancorp

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. purchased a new position in shares of Plumas Bancorp in the first quarter worth $40,000. Abound Financial LLC purchased a new stake in Plumas Bancorp during the 4th quarter valued at $43,000. BNP Paribas Financial Markets boosted its position in Plumas Bancorp by 33.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock valued at $53,000 after buying an additional 305 shares during the period. Tower Research Capital LLC TRC grew its holdings 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 acquiring an additional 1,410 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Plumas Bancorp in the first quarter valued at about $78,000. Hedge funds and other institutional investors own 41.68% of the company’s stock.

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.