Plumas Bancorp (NASDAQ:PLBC) Short Interest Down 29.1% in December

Plumas Bancorp (NASDAQ:PLBC) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totaling 54,063 shares, a decrease of 29.1% from the December 15th total of 76,238 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average trading volume of 15,722 shares, the days-to-cover ratio is currently 3.4 days. Based on an average trading volume of 15,722 shares, the days-to-cover ratio is currently 3.4 days. Currently, 0.9% of the company’s stock are short sold.

Analyst Ratings Changes

A number of analysts have commented on the company. Piper Sandler reduced their target price on Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plumas Bancorp in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $55.50.

Plumas Bancorp Stock Performance

Shares of NASDAQ PLBC traded down $0.65 during midday trading on Friday, hitting $45.36. 9,051 shares of the company’s stock traded hands, compared to its average volume of 11,447. The firm has a fifty day moving average of $44.14 and a 200 day moving average of $43.27. Plumas Bancorp has a 1 year low of $38.71 and a 1 year high of $49.47. The stock has a market capitalization of $315.71 million, a price-to-earnings ratio of 10.62 and a beta of 0.60.

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

Institutional Trading of Plumas Bancorp

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Plumas Bancorp by 44,800.0% in the third quarter. EverSource Wealth Advisors LLC now owns 898 shares of the financial services provider’s stock worth $39,000 after buying an additional 896 shares during the period. CWM LLC boosted its stake in shares of Plumas Bancorp by 408.9% in the third quarter. CWM LLC now owns 1,089 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 875 shares during the period. BNP Paribas Financial Markets grew its position in shares of Plumas Bancorp by 33.1% during the third 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 in the last quarter. Tower Research Capital LLC TRC raised its stake in Plumas Bancorp by 623.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 1,410 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Plumas Bancorp in the 1st quarter worth approximately $78,000. Institutional investors 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.