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

Plumas Bancorp (NASDAQ:PLBC) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 54,063 shares, a drop of 29.1% from the December 15th total of 76,238 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 15,722 shares, the short-interest ratio is presently 3.4 days. Based on an average daily trading volume, of 15,722 shares, the short-interest ratio is presently 3.4 days. Currently, 0.9% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of Plumas Bancorp in the first quarter valued at $255,000. Acadian Asset Management LLC purchased a new stake in Plumas Bancorp in the 1st quarter worth about $78,000. Los Angeles Capital Management LLC bought a new stake in Plumas Bancorp in the second quarter worth about $416,000. Angel Oak Capital Advisors LLC boosted its position in shares of Plumas Bancorp by 23.0% during the second quarter. Angel Oak Capital Advisors LLC now owns 26,700 shares of the financial services provider’s stock valued at $1,187,000 after buying an additional 5,000 shares during the period. Finally, De Lisle Partners LLP boosted its position in shares of Plumas Bancorp by 1.2% during the second quarter. De Lisle Partners LLP now owns 166,818 shares of the financial services provider’s stock valued at $7,429,000 after buying an additional 2,000 shares during the period. 41.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLBC has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plumas Bancorp in a research note on Monday, December 29th. Piper Sandler reduced their target price on Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $55.50.

Plumas Bancorp Stock Performance

Shares of NASDAQ:PLBC traded down $0.65 on Friday, reaching $45.36. The company’s stock had a trading volume of 9,051 shares, compared to its average volume of 11,447. The company has a 50-day simple moving average of $44.14 and a 200 day simple moving average of $43.27. The company has a market cap of $315.71 million, a P/E ratio of 10.62 and a beta of 0.60. Plumas Bancorp has a 52-week low of $38.71 and a 52-week high of $49.47.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.69. Plumas Bancorp had a net margin of 25.80% and a return on equity of 15.30%. The firm had revenue of $27.42 million during the quarter, compared to the consensus estimate of $28.07 million. On average, equities research analysts forecast that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

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.