Short Interest in Plumas Bancorp (NASDAQ:PLBC) Rises By 63.2%

Plumas Bancorp (NASDAQ:PLBC) was the target of a large 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. Based on an average daily trading volume, of 65,044 shares, the short-interest ratio is presently 4.1 days. Approximately 4.2% of the shares of the stock are short sold.

Plumas Bancorp Trading Down 1.9%

Shares of PLBC stock traded down $1.23 on Monday, hitting $61.85. 87,154 shares of the company’s stock traded hands, compared to its average volume of 48,737. 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 one year low of $39.80 and a one year high of $64.00. The company’s fifty day simple moving average is $59.22 and its 200 day simple moving average is $53.99. The stock has a market capitalization of $430.48 million, a price-to-earnings ratio of 12.18 and a beta of 0.59.

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

Plumas Bancorp Announces Dividend

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Plumas Bancorp

Several institutional investors have recently bought and sold shares of PLBC. Jane Street Group LLC bought a new position in Plumas Bancorp during the 1st quarter worth approximately $255,000. Acadian Asset Management LLC bought a new stake in Plumas Bancorp in the first quarter valued at approximately $78,000. The Manufacturers Life Insurance Company boosted its stake in shares of Plumas Bancorp by 3.8% during the second 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 period. Tower Research Capital LLC TRC grew its holdings in shares of Plumas Bancorp by 623.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 1,410 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Plumas Bancorp by 5.2% in the third quarter. Vanguard Group Inc. now owns 306,458 shares of the financial services provider’s stock worth $13,221,000 after purchasing an additional 15,080 shares during the last quarter. 41.68% of the stock is currently owned by hedge funds and other institutional investors.

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.