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

Plumas Bancorp (NASDAQ:PLBC)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $45.37 and traded as high as $50.80. Plumas Bancorp shares last traded at $49.90, with a volume of 66,853 shares.

Analyst Ratings Changes

A number of research analysts have weighed in on PLBC shares. Wall Street Zen cut shares of Plumas Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Plumas Bancorp in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $55.50.

Plumas Bancorp Price Performance

The company has a market cap of $337.14 million, a price-to-earnings ratio of 9.48 and a beta of 0.62. The company’s 50-day simple moving average is $49.57 and its 200-day simple moving average is $45.42.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.19. The firm had revenue of $28.58 million for the quarter, compared to analyst estimates of $27.39 million. Plumas Bancorp had a net margin of 26.40% and a return on equity of 16.28%. Equities analysts predict that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

Plumas Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, February 4th. This is a positive change from Plumas Bancorp’s previous quarterly dividend of $0.30. Plumas Bancorp’s dividend payout ratio is currently 29.07%.

Insider Buying and Selling

In other news, Director Kenneth Edward Robison III sold 800 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $52.76, for a total value of $42,208.00. Following the sale, the director owned 1,875 shares in the company, valued at approximately $98,925. This represents a 29.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PLBC. Quadrature Capital Ltd bought a new position in Plumas Bancorp during the fourth quarter worth $415,000. Man Group plc lifted its position in shares of Plumas Bancorp by 24.3% in the 4th quarter. Man Group plc now owns 17,459 shares of the financial services provider’s stock worth $780,000 after buying an additional 3,416 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of 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 valued at $522,000 after buying an additional 226 shares during the period. Punch & Associates Investment Management Inc. grew its position in shares of Plumas Bancorp by 10.8% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 69,275 shares of the financial services provider’s stock valued at $3,096,000 after buying an additional 6,740 shares during the last quarter. Finally, Abound Financial LLC acquired a new stake in Plumas Bancorp during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 41.68% of the company’s stock.

About Plumas Bancorp

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.