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

Plumas Bancorp (NASDAQ:PLBC) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totaling 268,771 shares, an increase of 63.2% from the July 15th total of 164,664 shares. Currently, 4.2% of the shares of the company are short sold. Based on an average daily volume of 65,044 shares, the days-to-cover ratio is currently 4.1 days.

Wall Street Analyst Weigh In

PLBC has been the subject of several research analyst reports. Wall Street Zen upgraded Plumas Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Raymond James Financial restated an “outperform” rating and set a $66.00 target price on shares of Plumas Bancorp in a research note on Thursday, July 16th. Stephens raised their price target on shares of Plumas Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Piper Sandler lifted their price target on shares of Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings raised shares of Plumas Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $66.33.

Institutional Trading of Plumas Bancorp

Several hedge funds have recently bought and sold shares of PLBC. Legal & General Group Plc purchased a new stake in shares of Plumas Bancorp in the second quarter worth about $39,000. Blue Trust Inc. bought a new stake in Plumas Bancorp in the first quarter worth $40,000. Abound Financial LLC bought a new stake in shares of Plumas Bancorp in the 4th quarter worth about $43,000. BNP Paribas Financial Markets lifted its stake in Plumas Bancorp by 33.1% in 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 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 during the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Plumas Bancorp Stock Performance

Shares of NASDAQ PLBC traded down $0.45 during trading on Wednesday, hitting $61.49. The company had a trading volume of 4,656 shares, compared to its average volume of 48,549. The stock has a 50 day simple moving average of $59.50 and a 200 day simple moving average of $54.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. Plumas Bancorp has a 12 month low of $39.80 and a 12 month high of $64.00. The firm has a market capitalization of $427.97 million, a P/E ratio of 12.21 and a beta of 0.59.

Plumas Bancorp (NASDAQ:PLBC) last released its earnings results on Wednesday, July 15th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.04. The company had revenue of $28.76 million during the quarter, compared to analyst estimates of $28.02 million. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.41%. As a group, analysts anticipate that Plumas Bancorp will post 5.71 earnings per share for the current year.

Plumas Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, August 3rd. Plumas Bancorp’s payout ratio is presently 25.98%.

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.