Short Interest in Plumas Bancorp (NASDAQ:PLBC) Expands By 32.0%

Plumas Bancorp (NASDAQ:PLBC) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 71,364 shares, a growth of 32.0% from the December 31st total of 54,063 shares. Based on an average daily trading volume, of 9,158 shares, the days-to-cover ratio is presently 7.8 days. Currently, 1.1% of the company’s stock are sold short. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 9,158 shares, the days-to-cover ratio is presently 7.8 days.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLBC. Wall Street Zen raised shares of Plumas Bancorp from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “buy (b-)” rating on shares of Plumas Bancorp in a research report on Monday, December 29th. Finally, Piper Sandler decreased their price objective on shares of Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $55.50.

Hedge Funds Weigh In On Plumas Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLBC. EverSource Wealth Advisors LLC grew its holdings in Plumas Bancorp by 44,800.0% in the 3rd 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 in the last quarter. CWM LLC boosted its stake in shares of Plumas Bancorp by 408.9% during the 3rd quarter. CWM LLC now owns 1,089 shares of the financial services provider’s stock valued at $47,000 after buying an additional 875 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Plumas Bancorp by 33.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock valued at $53,000 after buying an additional 305 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings 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 valued at $73,000 after buying an additional 1,410 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Plumas Bancorp in the first quarter worth $78,000. Institutional investors and hedge funds own 41.68% of the company’s stock.

Plumas Bancorp Price Performance

Plumas Bancorp stock traded up $1.85 during mid-day trading on Monday, reaching $51.96. 43,242 shares of the company traded hands, compared to its average volume of 17,663. The firm’s fifty day moving average is $45.52 and its two-hundred day moving average is $43.43. The company has a market capitalization of $361.43 million, a price-to-earnings ratio of 11.44 and a beta of 0.60. Plumas Bancorp has a fifty-two week low of $38.71 and a fifty-two week high of $52.30.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.37 by $0.19. Plumas Bancorp had a net margin of 26.40% and a return on equity of 16.28%. The company had revenue of $28.58 million during the quarter, compared to analyst estimates of $27.39 million. As a group, equities research analysts predict that Plumas Bancorp will post 4.51 earnings per share for the current year.

Plumas Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, February 4th. This is a positive change from Plumas Bancorp’s previous quarterly dividend of $0.30. Plumas Bancorp’s dividend payout ratio (DPR) is currently 29.07%.

About Plumas Bancorp

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.