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

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PLBC. 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. Wall Street Zen raised shares of Plumas Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Plumas Bancorp in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $55.50.

Institutional Trading of Plumas Bancorp

A number of institutional investors have recently modified their holdings of PLBC. Vanguard Group Inc. lifted its position in Plumas Bancorp by 5.2% during the third quarter. Vanguard Group Inc. now owns 306,458 shares of the financial services provider’s stock valued at $13,221,000 after acquiring an additional 15,080 shares during the last quarter. Siena Capital Partners GP LLC increased its position in shares of Plumas Bancorp by 30.5% during the third quarter. Siena Capital Partners GP LLC now owns 286,752 shares of the financial services provider’s stock worth $12,370,000 after purchasing an additional 66,950 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Plumas Bancorp by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 180,291 shares of the financial services provider’s stock valued at $8,016,000 after purchasing an additional 6,637 shares during the last quarter. De Lisle Partners LLP grew its stake in Plumas Bancorp by 1.2% during the 2nd quarter. De Lisle Partners LLP now owns 166,818 shares of the financial services provider’s stock worth $7,429,000 after buying an additional 2,000 shares during the last quarter. Finally, Caldwell Sutter Capital Inc. grew its stake in Plumas Bancorp by 0.6% during the 4th quarter. Caldwell Sutter Capital Inc. now owns 106,283 shares of the financial services provider’s stock worth $4,750,000 after buying an additional 599 shares during the last quarter. 41.68% of the stock is currently owned by institutional investors.

Plumas Bancorp Trading Up 0.7%

Shares of PLBC traded up $0.34 during mid-day trading on Tuesday, hitting $52.30. The company’s stock had a trading volume of 29,582 shares, compared to its average volume of 18,204. The company’s 50-day moving average is $45.72 and its 200-day moving average is $43.50. Plumas Bancorp has a 52-week low of $38.71 and a 52-week high of $54.58. The firm has a market capitalization of $364.01 million, a price-to-earnings ratio of 11.52 and a beta of 0.62.

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

Plumas Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th will be issued a $0.33 dividend. 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 2.5%. The ex-dividend date is Wednesday, February 4th. Plumas Bancorp’s dividend payout ratio is presently 26.43%.

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.