Plumas Bancorp (NASDAQ:PLBC) Shares Cross Above 200 Day Moving Average – What’s Next?

Plumas Bancorp (NASDAQ:PLBC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $50.13 and traded as high as $58.40. Plumas Bancorp shares last traded at $57.61, with a volume of 68,620 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on PLBC shares. Stephens increased their target price on Plumas Bancorp from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Weiss Ratings restated a “buy (b)” rating on shares of Plumas Bancorp in a report on Monday, April 27th. Piper Sandler upped their price objective on Plumas Bancorp from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Finally, Wall Street Zen upgraded shares of Plumas Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $57.67.

Plumas Bancorp Trading Up 0.2%

The company has a market cap of $401.54 million, a P/E ratio of 12.21 and a beta of 0.62. The firm’s 50 day moving average is $53.06 and its two-hundred day moving average is $50.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06.

Plumas Bancorp (NASDAQ:PLBC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.07. The business had revenue of $28.14 million during the quarter, compared to analyst estimates of $27.24 million. Plumas Bancorp had a return on equity of 15.16% and a net margin of 26.67%. As a group, equities research analysts anticipate that Plumas Bancorp will post 5.64 EPS for the current year.

Plumas Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.32 annualized dividend and a dividend yield of 2.3%. Plumas Bancorp’s dividend payout ratio is presently 27.97%.

Hedge Funds Weigh In On Plumas Bancorp

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in Plumas Bancorp by 2.0% in the fourth quarter. AQR Capital Management LLC now owns 11,684 shares of the financial services provider’s stock valued at $522,000 after acquiring an additional 226 shares during the last quarter. BNP Paribas Financial Markets raised its holdings 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 worth $53,000 after purchasing an additional 305 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Plumas Bancorp by 3.5% during the 4th quarter. Renaissance Technologies LLC now owns 11,700 shares of the financial services provider’s stock worth $523,000 after purchasing an additional 395 shares during the last quarter. Caldwell Sutter Capital Inc. lifted its position in shares of Plumas Bancorp by 0.6% in the 4th quarter. Caldwell Sutter Capital Inc. now owns 106,283 shares of the financial services provider’s stock worth $4,750,000 after purchasing an additional 599 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Plumas Bancorp by 12.6% in the 1st quarter. Bank of America Corp DE now owns 5,828 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 650 shares during the period. 41.68% of the stock is currently owned by institutional investors.

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.