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

Plumas Bancorp (NASDAQ:PLBC) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 20,200 shares, a decrease of 15.1% from the September 30th total of 23,800 shares. Based on an average trading volume of 11,900 shares, the days-to-cover ratio is currently 1.7 days.

Analyst Upgrades and Downgrades

Separately, Raymond James increased their target price on Plumas Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd.

Insider Transactions at Plumas Bancorp

In other news, EVP Bj North sold 2,496 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $42.55, for a total transaction of $106,204.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 9.00% of the company’s stock.

Hedge Funds Weigh In On Plumas Bancorp

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Plumas Bancorp by 0.7% during the first quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock worth $10,310,000 after buying an additional 1,862 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Plumas Bancorp by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock worth $2,847,000 after buying an additional 4,838 shares during the period. Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of Plumas Bancorp during the second quarter worth about $1,247,000. Bank of New York Mellon Corp boosted its stake in shares of Plumas Bancorp by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 29,394 shares of the financial services provider’s stock worth $1,058,000 after buying an additional 2,036 shares during the period. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Plumas Bancorp during the first quarter worth about $589,000. Institutional investors and hedge funds own 41.68% of the company’s stock.

Plumas Bancorp Stock Performance

NASDAQ PLBC traded down $0.20 during trading hours on Wednesday, hitting $42.36. The company had a trading volume of 16,282 shares, compared to its average volume of 9,118. Plumas Bancorp has a 1-year low of $32.50 and a 1-year high of $45.00. The company has a market cap of $249.92 million, a PE ratio of 8.92 and a beta of 0.68. The business has a 50 day moving average of $40.70 and a 200-day moving average of $37.92.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.17. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.97%. The company had revenue of $24.10 million during the quarter, compared to the consensus estimate of $20.60 million. Sell-side analysts expect that Plumas Bancorp will post 4.66 earnings per share for the current fiscal year.

Plumas Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.08 annualized dividend and a yield of 2.55%. Plumas Bancorp’s dividend payout ratio is presently 22.64%.

Plumas Bancorp Company Profile

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.