Plumas Bancorp (NASDAQ:PLBC) Sees Significant Increase in Short Interest

Plumas Bancorp (NASDAQ:PLBC) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 73,380 shares, a growth of 29.6% from the February 26th total of 56,619 shares. Based on an average trading volume of 44,482 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.2% of the shares of the stock are sold short.

Plumas Bancorp Price Performance

PLBC stock traded up $0.43 during mid-day trading on Tuesday, reaching $48.82. The company’s stock had a trading volume of 38,638 shares, compared to its average volume of 30,453. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $50.42 and its two-hundred day moving average is $45.81. Plumas Bancorp has a fifty-two week low of $38.71 and a fifty-two week high of $54.58. The stock has a market cap of $340.76 million, a PE ratio of 10.75 and a beta of 0.62.

Plumas Bancorp (NASDAQ:PLBC) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.19. The business had revenue of $20.99 million for the quarter, compared to analysts’ expectations of $27.39 million. Plumas Bancorp had a return on equity of 15.32% and a net margin of 26.40%. Equities research analysts expect that Plumas Bancorp will post 4.51 EPS for the current year.

Plumas Bancorp Increases Dividend

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

Insider Activity at Plumas Bancorp

In other news, Director Kenneth Edward Robison III sold 800 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $52.76, for a total value of $42,208.00. Following the transaction, the director owned 1,875 shares in the company, valued at $98,925. This trade represents a 29.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.00% of the stock is owned by insiders.

Institutional Trading of Plumas Bancorp

Several large investors have recently added to or reduced their stakes in PLBC. EverSource Wealth Advisors LLC raised its holdings in shares of Plumas Bancorp by 44,800.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 898 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 896 shares during the period. Abound Financial LLC acquired a new stake in Plumas Bancorp during the fourth quarter worth about $43,000. CWM LLC increased its position in Plumas Bancorp by 408.9% during 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 last quarter. BNP Paribas Financial Markets raised its stake in 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 period. Finally, Tower Research Capital LLC TRC raised its stake in 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 period. 41.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on PLBC shares. Wall Street Zen downgraded Plumas Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plumas Bancorp in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $55.50.

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.