Plumas Bancorp (NASDAQ:PLBC) Short Interest Up 29.6% in March

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

Plumas Bancorp Price Performance

Plumas Bancorp stock traded down $0.69 during mid-day trading on Friday, hitting $48.10. The company’s stock had a trading volume of 32,197 shares, compared to its average volume of 44,523. Plumas Bancorp has a twelve month low of $38.71 and a twelve month high of $54.58. The stock’s fifty day moving average price is $50.35 and its two-hundred day moving average price is $45.79. The stock has a market capitalization of $335.74 million, a P/E ratio of 10.59 and a beta of 0.62. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.08.

Plumas Bancorp (NASDAQ:PLBC) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Research analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current year.

Plumas Bancorp Increases Dividend

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

Insider Activity at Plumas Bancorp

In other news, Director Kenneth Edward Robison III sold 800 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $52.76, for a total transaction of $42,208.00. Following the sale, the director directly owned 1,875 shares in the company, valued at approximately $98,925. This represents a 29.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Plumas Bancorp

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of 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 valued at $39,000 after purchasing an additional 896 shares during the last quarter. Abound Financial LLC bought a new position in Plumas Bancorp during the fourth quarter valued at about $43,000. CWM LLC raised its holdings in Plumas Bancorp by 408.9% during 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 in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of 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 acquiring an additional 305 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Plumas Bancorp by 623.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 1,410 shares in the last quarter. 41.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plumas Bancorp in a report on Monday, December 29th. Wall Street Zen lowered shares of Plumas Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, Plumas Bancorp has an average rating of “Buy” and an average 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.