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

Plumas Bancorp (NASDAQ:PLBC) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 changing hands.

Wall Street Analysts Forecast Growth

Separately, Raymond James boosted their target price on Plumas Bancorp from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd.

Plumas Bancorp Stock Down 3.7 %

The stock’s fifty day simple moving average is $41.11 and its 200-day simple moving average is $38.24. The company has a market capitalization of $257.89 million, a PE ratio of 9.16 and a beta of 0.67.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.17. The firm had revenue of $24.10 million during the quarter, compared to the consensus estimate of $20.60 million. Plumas Bancorp had a return on equity of 17.97% and a net margin of 31.02%. Analysts expect that Plumas Bancorp will post 4.66 EPS for the current year.

Plumas Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.27 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.08 annualized dividend and a dividend yield of 2.47%. Plumas Bancorp’s dividend payout ratio is presently 22.64%.

Insider Activity at Plumas Bancorp

In other Plumas Bancorp news, EVP Bj North sold 2,496 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.55, for a total value of $106,204.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 9.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Plumas Bancorp

Institutional investors have recently made changes to their positions in the stock. Elizabeth Park Capital Advisors Ltd. purchased a new stake in Plumas Bancorp during the 2nd quarter worth about $1,247,000. Vanguard Group Inc. grew its holdings in shares of Plumas Bancorp by 0.7% during the first quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock worth $10,310,000 after buying an additional 1,862 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Plumas Bancorp by 32.8% in the first quarter. BNP Paribas Financial Markets now owns 11,570 shares of the financial services provider’s stock valued at $426,000 after buying an additional 2,856 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Plumas Bancorp during the first quarter valued at approximately $589,000. Finally, Dimensional Fund Advisors LP boosted its position in Plumas Bancorp by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock worth $2,847,000 after acquiring an additional 4,838 shares during the last quarter. 41.68% of the stock is owned by institutional investors and hedge funds.

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.