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

Plumas Bancorp (NASDAQ:PLBC) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 61,500 shares, a growth of 38.2% from the January 31st total of 44,500 shares. Based on an average daily trading volume, of 10,200 shares, the short-interest ratio is presently 6.0 days. Currently, 1.2% of the company’s shares are sold short.

Analysts Set New Price Targets

PLBC has been the topic of a number of analyst reports. Piper Sandler initiated coverage on Plumas Bancorp in a research note on Thursday, February 27th. They issued an “overweight” rating and a $60.00 price target on the stock. Raymond James reissued an “outperform” rating and issued a $54.00 price target (up previously from $49.00) on shares of Plumas Bancorp in a research note on Thursday, January 30th. Finally, Stephens initiated coverage on Plumas Bancorp in a research note on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 price target on the stock.

Insider Buying and Selling at Plumas Bancorp

In related news, Director Michael Kevin Foster purchased 1,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were bought at an average price of $45.67 per share, with a total value of $45,670.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $45,670. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 9.00% of the company’s stock.

Institutional Investors Weigh In On Plumas Bancorp

Several hedge funds have recently bought and sold shares of PLBC. Putney Financial Group LLC acquired a new stake in shares of Plumas Bancorp in the fourth quarter valued at approximately $571,000. Deutsche Bank AG raised its position in shares of Plumas Bancorp by 68.0% in the fourth quarter. Deutsche Bank AG now owns 5,031 shares of the financial services provider’s stock valued at $238,000 after buying an additional 2,036 shares in the last quarter. Corton Capital Inc. acquired a new position in Plumas Bancorp during the fourth quarter valued at approximately $267,000. Citadel Advisors LLC raised its position in Plumas Bancorp by 64.1% during the fourth quarter. Citadel Advisors LLC now owns 9,187 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 3,587 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Plumas Bancorp by 41.3% during the fourth quarter. Bank of America Corp DE now owns 5,752 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 1,680 shares in the last quarter. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Plumas Bancorp Trading Down 1.2 %

Shares of NASDAQ PLBC traded down $0.55 during mid-day trading on Tuesday, hitting $43.99. The company had a trading volume of 6,697 shares, compared to its average volume of 9,744. Plumas Bancorp has a one year low of $32.50 and a one year high of $51.33. The company has a market capitalization of $259.41 million, a PE ratio of 9.18 and a beta of 0.70. The firm has a 50-day simple moving average of $45.80 and a two-hundred day simple moving average of $44.24.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.14. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. Sell-side analysts expect that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were given a dividend of $0.30 per share. The ex-dividend date was Monday, February 3rd. This is an increase from Plumas Bancorp’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 2.73%. Plumas Bancorp’s dividend payout ratio (DPR) is 25.05%.

Plumas Bancorp Company Profile

Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.