Plumas Bancorp (NASDAQ:PLBC) Sees Large Drop in Short Interest

Plumas Bancorp (NASDAQ:PLBC) was the recipient of a large decrease in short interest during the month of February. As of February 13th, there was short interest totaling 55,877 shares, a decrease of 19.9% from the January 29th total of 69,732 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 27,197 shares, the short-interest ratio is presently 2.1 days. Based on an average daily trading volume, of 27,197 shares, the short-interest ratio is presently 2.1 days. Currently, 0.9% of the shares of the stock are short sold.

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 dated Friday, February 20th. The stock was 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 $98,925. This trade represents a 29.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Plumas Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caldwell Sutter Capital Inc. increased its stake in shares of Plumas Bancorp by 13,110.5% in the 3rd 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 in the last quarter. Angel Oak Capital Advisors LLC raised its stake in Plumas Bancorp by 23.0% during the 2nd quarter. Angel Oak Capital Advisors LLC now owns 26,700 shares of the financial services provider’s stock valued at $1,187,000 after purchasing an additional 5,000 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Plumas Bancorp during the second quarter valued at approximately $416,000. Siena Capital Partners GP LLC increased its holdings in Plumas Bancorp by 30.5% in the 3rd quarter. Siena Capital Partners GP LLC now owns 286,752 shares of the financial services provider’s stock valued at $12,370,000 after acquiring an additional 66,950 shares during the last quarter. Finally, De Lisle Partners LLP lifted its position in shares of Plumas Bancorp by 1.2% in the second 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 in the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Plumas Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Plumas Bancorp in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $55.50.

Plumas Bancorp Stock Performance

Shares of PLBC stock opened at $51.25 on Thursday. The company has a market capitalization of $356.70 million, a price-to-earnings ratio of 11.29 and a beta of 0.62. The company’s 50-day moving average is $49.00 and its 200 day moving average is $45.11. Plumas Bancorp has a one year low of $38.71 and a one year high of $54.58.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings data 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. Plumas Bancorp had a net margin of 26.40% and a return on equity of 16.28%. The company had revenue of $28.58 million during the quarter, compared to analyst estimates of $27.39 million. As a group, research analysts predict that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were paid 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 dividend yield of 2.6%. The ex-dividend date was Wednesday, February 4th. Plumas Bancorp’s dividend payout ratio (DPR) is presently 29.07%.

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.