Plumas Bancorp (NASDAQ:PLBC) Short Interest Up 63.2% in July

Plumas Bancorp (NASDAQ:PLBC) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 268,771 shares, a growth of 63.2% from the July 15th total of 164,664 shares. Currently, 4.2% of the company’s shares are sold short. Based on an average daily volume of 65,044 shares, the short-interest ratio is currently 4.1 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLBC. Public Employees Retirement System of Ohio bought a new stake in Plumas Bancorp during the second quarter worth $88,000. Punch & Associates Investment Management Inc. purchased a new position in Plumas Bancorp during the 2nd quarter worth $3,829,000. Bank of America Corp DE purchased a new position in Plumas Bancorp during the 2nd quarter worth $407,000. Odyssean LLC bought a new stake in shares of Plumas Bancorp in the 2nd quarter worth $247,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Plumas Bancorp in the 2nd quarter worth $516,000. Institutional investors own 41.68% of the company’s stock.

Plumas Bancorp Stock Down 0.9%

Shares of Plumas Bancorp stock traded down $0.54 during trading hours on Tuesday, reaching $61.94. The company’s stock had a trading volume of 44,329 shares, compared to its average volume of 48,730. Plumas Bancorp has a one year low of $39.80 and a one year high of $64.00. The company has a market capitalization of $431.10 million, a P/E ratio of 12.19 and a beta of 0.59. The stock’s fifty day simple moving average is $59.37 and its two-hundred day simple moving average is $54.08. 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 (NASDAQ:PLBC) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.37 by $0.04. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.41%. The company had revenue of $28.76 million during the quarter, compared to the consensus estimate of $28.02 million. On average, research analysts forecast that Plumas Bancorp will post 5.71 earnings per share for the current year.

Plumas Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PLBC shares. Stephens boosted their price objective on Plumas Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Piper Sandler raised their target price on Plumas Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Weiss Ratings raised Plumas Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, August 7th. Raymond James Financial reaffirmed an “outperform” rating and set a $66.00 price target on shares of Plumas Bancorp 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 research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Plumas Bancorp presently has an average rating of “Buy” and a consensus target price of $66.33.

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.