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

Plumas Bancorp (NASDAQ:PLBC) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 8,000 shares, a growth of 53.8% from the August 30th total of 5,200 shares. Based on an average daily trading volume, of 3,000 shares, the days-to-cover ratio is presently 2.7 days. Approximately 0.2% of the company’s stock are short sold.

Several large investors have recently added to or reduced their stakes in PLBC. Acadian Asset Management LLC purchased a new stake in shares of Plumas Bancorp in the 2nd quarter worth about $27,000. BlackRock Inc. grew its position in shares of Plumas Bancorp by 4.2% in the 2nd quarter. BlackRock Inc. now owns 16,491 shares of the financial services provider’s stock worth $401,000 after buying an additional 659 shares during the period. White Pine Capital LLC purchased a new stake in shares of Plumas Bancorp in the 2nd quarter worth about $443,000. Maltese Capital Management LLC grew its position in shares of Plumas Bancorp by 12.3% in the 2nd quarter. Maltese Capital Management LLC now owns 119,311 shares of the financial services provider’s stock worth $2,899,000 after buying an additional 13,094 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Plumas Bancorp by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 131,764 shares of the financial services provider’s stock worth $3,202,000 after buying an additional 2,313 shares during the period. 22.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:PLBC traded up $0.25 during midday trading on Friday, reaching $20.30. The company’s stock had a trading volume of 6,597 shares, compared to its average volume of 3,700. The firm has a 50 day moving average of $21.17 and a 200-day moving average of $23.62. The firm has a market capitalization of $103.19 million, a P/E ratio of 7.02 and a beta of 0.31. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13. Plumas Bancorp has a 12-month low of $19.25 and a 12-month high of $27.90.

Plumas Bancorp (NASDAQ:PLBC) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.73 earnings per share for the quarter. The firm had revenue of $11.17 million for the quarter. Plumas Bancorp had a net margin of 32.55% and a return on equity of 21.35%.

Plumas Bancorp Company Profile

Plumas Bancorp operates as the 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 offers various deposit products, such as checking, interest-bearing checking, public funds and business sweep, savings, and retirement accounts, as well as time and remote deposits.

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