Plumas Bancorp (NASDAQ:PLBC) Short Interest Down 29.1% in December

Plumas Bancorp (NASDAQ:PLBC) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 54,063 shares, a decline of 29.1% from the December 15th total of 76,238 shares. Based on an average trading volume of 15,722 shares, the days-to-cover ratio is presently 3.4 days. Approximately 0.9% of the company’s shares are sold short. Approximately 0.9% of the company’s shares are sold short. Based on an average trading volume of 15,722 shares, the days-to-cover ratio is presently 3.4 days.

Plumas Bancorp Stock Down 1.4%

NASDAQ PLBC traded down $0.65 during trading on Monday, hitting $45.36. The company’s stock had a trading volume of 9,051 shares, compared to its average volume of 11,447. The firm has a 50 day moving average price of $44.14 and a 200 day moving average price of $43.22. The firm has a market cap of $315.71 million, a P/E ratio of 10.62 and a beta of 0.60. Plumas Bancorp has a 52 week low of $38.71 and a 52 week high of $49.47.

Hedge Funds Weigh In On Plumas Bancorp

Several large investors have recently bought and sold shares of PLBC. EverSource Wealth Advisors LLC grew its position 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 purchasing an additional 896 shares during the last quarter. CWM LLC lifted its stake in shares of Plumas Bancorp by 408.9% in the third 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 position 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 buying an additional 305 shares in the last quarter. Tower Research Capital LLC TRC grew its position 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 buying an additional 1,410 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Plumas Bancorp during the first quarter valued at about $78,000. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PLBC. Weiss Ratings reissued a “buy (b-)” rating on shares of Plumas Bancorp in a research note on Monday, December 29th. Piper Sandler reduced their price objective on shares of Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $55.50.

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.