Plumas Bancorp (NASDAQ:PLBC) Shares Cross Above 200-Day Moving Average – Should You Sell?

Shares of Plumas Bancorp (NASDAQ:PLBC) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $45.09 and traded as high as $46.25. Plumas Bancorp shares last traded at $45.64, with a volume of 12,547 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PLBC. Raymond James restated an “outperform” rating and set a $54.00 target price (up from $49.00) on shares of Plumas Bancorp in a research note on Thursday, January 30th. Piper Sandler cut their target price on shares of Plumas Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th.

Plumas Bancorp Price Performance

The stock’s 50 day moving average is $42.90 and its two-hundred day moving average is $45.09. The stock has a market capitalization of $270.60 million, a PE ratio of 9.53 and a beta of 0.65.

Plumas Bancorp (NASDAQ:PLBC) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.07. The firm had revenue of $21.50 million during the quarter, compared to analysts’ expectations of $20.62 million. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. During the same quarter in the previous year, the business earned $1.05 earnings per share. On average, equities analysts predict that Plumas Bancorp will post 4.51 earnings per share for the current year.

Plumas Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Thursday, May 1st. Plumas Bancorp’s payout ratio is 24.29%.

Insider Buying and Selling

In other Plumas Bancorp news, Director Michael Kevin Foster bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of $45.67 per share, for a total transaction of $45,670.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at $45,670. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Plumas Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in Plumas Bancorp in the first quarter valued at approximately $255,000. Elizabeth Park Capital Advisors Ltd. lifted its stake in Plumas Bancorp by 5.9% in the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 53,778 shares of the financial services provider’s stock valued at $2,327,000 after buying an additional 3,000 shares during the last quarter. Nuveen LLC purchased a new stake in Plumas Bancorp in the first quarter valued at approximately $103,720,000. De Lisle Partners LLP lifted its stake in Plumas Bancorp by 1.7% in the first quarter. De Lisle Partners LLP now owns 164,818 shares of the financial services provider’s stock valued at $7,183,000 after buying an additional 2,825 shares during the last quarter. Finally, Corton Capital Inc. increased its holdings in shares of Plumas Bancorp by 17.5% in the first quarter. Corton Capital Inc. now owns 6,630 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 988 shares during the period. Hedge funds and other institutional investors 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.