Plumas Bancorp (NASDAQ:PLBC) Short Interest Update

Key Points

• Short interest rose 19.8% to 87,893 shares as of March 31, equal to about 2.1 days-to-cover and roughly 1.4% of the company's stock sold short.
• In its latest quarter (released Apr 15) Plumas Bancorp beat EPS estimates with $1.38 vs. $1.31 expected and reported $28.14M in revenue, with a net margin of 26.67% and ROE of 15.68%.
• The board declared a quarterly dividend of $0.33 (annualized $1.32, ~2.5% yield) and analysts maintain a consensus "Buy" rating with an average price target of $57.67.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totaling 87,893 shares, a growth of 19.8% from the March 15th total of 73,380 shares. Based on an average daily trading volume, of 41,500 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.4% of the company's stock are sold short.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PLBC. Weiss Ratings restated a "buy (b-)" rating on shares of Plumas Bancorp in a research note on Monday, December 29th. Piper Sandler upped their target price on shares of Plumas Bancorp from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday. Stephens upped their target price on shares of Plumas Bancorp from $57.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Wall Street Zen lowered 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, Plumas Bancorp has an average rating of "Buy" and a consensus price target of $57.67.

Plumas Bancorp Stock Up 1.0%

Shares of Plumas Bancorp stock traded up $0.54 during trading on Friday, reaching $52.25. The company had a trading volume of 61,560 shares, compared to its average volume of 63,008. The company has a market cap of $364.18 million, a price-to-earnings ratio of 11.07 and a beta of 0.59. The firm's fifty day moving average is $50.46 and its 200-day moving average is $46.46. 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 fifty-two week low of $39.70 and a fifty-two week high of $54.58.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.07. The firm had revenue of $28.14 million for the quarter, compared to analyst estimates of $27.24 million. Plumas Bancorp had a net margin of 26.67% and a return on equity of 15.68%. On average, analysts anticipate that Plumas Bancorp will post 4.51 EPS for the current year.

Plumas Bancorp Announces Dividend

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

Insider Buying and Selling

In other Plumas Bancorp news, Director Kenneth Edward Robison III sold 800 shares of the business's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $52.76, for a total value of $42,208.00. Following the transaction, the director owned 1,875 shares in the company, valued at $98,925. The trade was a 29.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Plumas Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its stake in Plumas Bancorp by 44,800.0% during the third quarter. EverSource Wealth Advisors LLC now owns 898 shares of the financial services provider's stock worth $39,000 after acquiring an additional 896 shares during the period. Abound Financial LLC bought a new position in Plumas Bancorp in the 4th quarter worth about $43,000. CWM LLC grew its position in Plumas Bancorp by 408.9% in the 3rd 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. BNP Paribas Financial Markets grew its position in Plumas Bancorp by 33.1% in the 3rd 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 grew its position in Plumas Bancorp by 623.9% in the 2nd 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. Institutional investors and hedge funds own 41.68% of the company's stock.

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.

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