Plumas Bancorp (NASDAQ:PLBC) Sees Large Drop in Short Interest

Plumas Bancorp (NASDAQ:PLBC) was the recipient of a significant drop in short interest in February. As of February 13th, there was short interest totaling 55,877 shares, a drop of 19.9% from the January 29th total of 69,732 shares. Based on an average daily trading volume, of 27,197 shares, the short-interest ratio is presently 2.1 days. Currently, 0.9% of the company’s stock are sold short. Currently, 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 27,197 shares, the short-interest ratio is presently 2.1 days.

Insider Buying and Selling at Plumas Bancorp

In related news, Director Kenneth Edward Robison III sold 800 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $52.76, for a total transaction of $42,208.00. Following the transaction, the director directly owned 1,875 shares in the company, valued at approximately $98,925. The trade was a 29.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Plumas Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Plumas Bancorp by 44,800.0% in the third quarter. EverSource Wealth Advisors LLC now owns 898 shares of the financial services provider’s stock worth $39,000 after buying an additional 896 shares during the period. Abound Financial LLC bought a new position in Plumas Bancorp in the 4th quarter valued at $43,000. CWM LLC increased its stake in Plumas Bancorp by 408.9% in the third quarter. CWM LLC now owns 1,089 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 875 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Plumas Bancorp by 33.1% during the third 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. Finally, Tower Research Capital LLC TRC lifted its position in shares of Plumas Bancorp by 623.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 1,410 shares during the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Wall Street Analysts Forecast Growth

PLBC has been the subject of several analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Plumas Bancorp in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Plumas Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $55.50.

Plumas Bancorp Price Performance

NASDAQ PLBC traded up $0.58 during trading hours on Wednesday, reaching $51.25. 66,863 shares of the company’s stock traded hands, compared to its average volume of 25,032. The firm has a 50-day simple moving average of $48.89 and a 200 day simple moving average of $45.07. Plumas Bancorp has a 52-week low of $38.71 and a 52-week high of $54.58. The firm has a market cap of $356.70 million, a PE ratio of 11.29 and a beta of 0.62.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.19. The company had revenue of $28.58 million during 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%. Sell-side analysts forecast 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. Investors of record on Wednesday, February 4th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Plumas Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 4th. Plumas Bancorp’s payout ratio is 29.07%.

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.