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

Plumas Bancorp (NASDAQ:PLBC) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $38.24 and traded as high as $45.47. Plumas Bancorp shares last traded at $43.71, with a volume of 24,484 shares trading hands.

Wall Street Analyst Weigh In

Separately, Raymond James upped their target price on shares of Plumas Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd.

Plumas Bancorp Price Performance

The firm’s fifty day moving average is $41.20 and its two-hundred day moving average is $38.31. The firm has a market cap of $265.90 million, a price-to-earnings ratio of 9.45 and a beta of 0.67.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.14 by $0.17. The firm had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $20.60 million. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.97%. On average, equities analysts forecast that Plumas Bancorp will post 4.66 earnings per share for the current fiscal year.

Plumas Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, November 1st. Plumas Bancorp’s dividend payout ratio (DPR) is currently 22.64%.

Insider Buying and Selling

In related news, EVP Bj North sold 2,496 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.55, for a total transaction of $106,204.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 9.00% of the company’s stock.

Hedge Funds Weigh In On Plumas Bancorp

Several large investors have recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in shares of Plumas Bancorp by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 6,247 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 290 shares in the last quarter. Vanguard Group Inc. increased its holdings in Plumas Bancorp by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock valued at $10,310,000 after buying an additional 1,862 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Plumas Bancorp by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 29,394 shares of the financial services provider’s stock valued at $1,058,000 after buying an additional 2,036 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Plumas Bancorp by 32.8% during the 1st quarter. BNP Paribas Financial Markets now owns 11,570 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 2,856 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Plumas Bancorp by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock valued at $2,847,000 after acquiring an additional 4,838 shares in the last quarter. Institutional investors and hedge funds own 41.68% of the company’s stock.

Plumas Bancorp Company Profile

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.