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

Key Points

• Short interest fell 34.8% in April to 57,338 shares (about 0.9% of outstanding shares), leaving a very low short-interest ratio of 0.7 days.
• Analyst sentiment is favorable: Stephens and Piper Sandler raised targets (to $60 and $63) and the consensus rating is "Buy" with an average price target of $57.67.
• Recent results and shareholder returns: Plumas beat quarterly EPS estimates ($1.38 vs. $1.31), reported strong margins and ROE, and declared a quarterly dividend of $0.33 (annualized $1.32, ~2.5% yield).

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 57,338 shares, a drop of 34.8% from the March 31st total of 87,893 shares. Based on an average trading volume of 86,263 shares, the short-interest ratio is presently 0.7 days. Currently, 0.9% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of research firms have commented on PLBC. Stephens raised their target price on shares of Plumas Bancorp from $57.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Piper Sandler raised their target price on shares of Plumas Bancorp from $59.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Weiss Ratings restated a "buy (b-)" rating on shares of Plumas Bancorp in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of Plumas Bancorp from a "buy" rating to a "hold" rating in a research note on Sunday, February 8th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Plumas Bancorp currently has an average rating of "Buy" and a consensus price target of $57.67.

Insider Buying and Selling

In other Plumas Bancorp news, Director Kenneth Edward Robison III sold 800 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $52.76, for a total transaction of $42,208.00. Following the sale, the director owned 1,875 shares in the company, valued at approximately $98,925. This trade represents a 29.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On Plumas Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Daytona Street Capital LLC purchased a new position in shares of Plumas Bancorp in the fourth quarter valued at $547,000. Caldwell Sutter Capital Inc. lifted its position in shares of Plumas Bancorp by 13,110.5% during the third quarter. Caldwell Sutter Capital Inc. now owns 105,684 shares of the financial services provider's stock worth $4,559,000 after purchasing an additional 104,884 shares during the last quarter. Siena Capital Partners GP LLC lifted 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 during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Plumas Bancorp by 3.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,674 shares of the financial services provider's stock worth $576,000 after purchasing an additional 459 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Plumas Bancorp by 408.9% during the third quarter. CWM LLC now owns 1,089 shares of the financial services provider's stock worth $47,000 after purchasing an additional 875 shares during the last quarter. 41.68% of the stock is owned by hedge funds and other institutional investors.

Plumas Bancorp Price Performance

PLBC traded up $0.27 during trading on Tuesday, reaching $51.87. 30,143 shares of the company traded hands, compared to its average volume of 38,584. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.85 and a current ratio of 0.85. Plumas Bancorp has a 12-month low of $39.70 and a 12-month high of $54.58. The firm has a fifty day simple moving average of $50.37 and a 200 day simple moving average of $46.92. The company has a market cap of $361.50 million, a P/E ratio of 10.99 and a beta of 0.59.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.07. Plumas Bancorp had a net margin of 26.67% and a return on equity of 15.68%. The business had revenue of $28.14 million during the quarter, compared to analyst estimates of $27.24 million. On average, equities analysts forecast that Plumas Bancorp will post 5.64 EPS for the current year.

Plumas Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, May 1st. Plumas Bancorp's dividend payout ratio (DPR) is 27.97%.

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.

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