Short Interest in Plumas Bancorp (NASDAQ:PLBC) Decreases By 15.5%

Plumas Bancorp (NASDAQ:PLBC) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 22,400 shares, a decrease of 15.5% from the December 15th total of 26,500 shares. Based on an average daily trading volume, of 12,900 shares, the days-to-cover ratio is currently 1.7 days.

Plumas Bancorp Stock Down 2.2 %

PLBC traded down $1.02 on Thursday, reaching $45.58. The company’s stock had a trading volume of 5,410 shares, compared to its average volume of 10,751. Plumas Bancorp has a fifty-two week low of $32.50 and a fifty-two week high of $51.33. The stock has a 50 day moving average of $47.16 and a two-hundred day moving average of $42.49. The company has a market capitalization of $268.79 million, a price-to-earnings ratio of 9.56 and a beta of 0.71.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.15 by $0.14. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.31%. As a group, analysts anticipate that Plumas Bancorp will post 4.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Plumas Bancorp news, EVP Bj North sold 2,496 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.55, for a total transaction of $106,204.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 9.00% of the stock is owned by company insiders.

Institutional Trading of Plumas Bancorp

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Plumas Bancorp by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider’s stock valued at $5,033,000 after purchasing an additional 6,075 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Plumas Bancorp by 533.8% in the third quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider’s stock valued at $239,000 after buying an additional 4,938 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of Plumas Bancorp during the second quarter worth about $1,247,000. The Manufacturers Life Insurance Company grew its holdings in shares of Plumas Bancorp by 5.8% during the third quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock worth $6,954,000 after buying an additional 9,328 shares during the last quarter. Finally, State Street Corp increased its position in Plumas Bancorp by 3.8% in the 3rd quarter. State Street Corp now owns 68,879 shares of the financial services provider’s stock valued at $2,809,000 after acquiring an additional 2,526 shares during the period. 41.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLBC has been the topic of several analyst reports. Stephens initiated coverage on shares of Plumas Bancorp in a report on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 target price on the stock. Raymond James reiterated an “outperform” rating and set a $49.00 target price (up previously from $45.00) on shares of Plumas Bancorp in a research note on Thursday.

About Plumas Bancorp

Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.