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

Plumas Bancorp (NASDAQ:PLBC) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 26,500 shares, an increase of 22.1% from the November 30th total of 21,700 shares. Based on an average trading volume of 13,500 shares, the short-interest ratio is currently 2.0 days.

Insider Buying and Selling at Plumas Bancorp

In related news, EVP Bj North sold 2,496 shares of Plumas Bancorp stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.55, for a total value of $106,204.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.00% of the stock is owned by insiders.

Institutional Trading of Plumas Bancorp

Several hedge funds have recently added to or reduced their stakes in PLBC. Rhumbline Advisers grew its holdings in Plumas Bancorp by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 6,247 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 290 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Plumas Bancorp by 533.8% during the third quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 4,938 shares in the last quarter. Jane Street Group LLC increased its holdings in Plumas Bancorp by 7.9% in the third quarter. Jane Street Group LLC now owns 6,206 shares of the financial services provider’s stock valued at $253,000 after buying an additional 457 shares during the last quarter. Barclays PLC raised its stake in Plumas Bancorp by 275.4% in the third quarter. Barclays PLC now owns 7,155 shares of the financial services provider’s stock valued at $292,000 after buying an additional 5,249 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Plumas Bancorp by 129.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,622 shares of the financial services provider’s stock worth $311,000 after buying an additional 4,305 shares during the last quarter. Institutional investors and hedge funds own 41.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PLBC. Stephens initiated coverage on Plumas Bancorp in a research note on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 price objective for the company. Raymond James lifted their target price on Plumas Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd.

Plumas Bancorp Stock Up 0.2 %

PLBC stock traded up $0.10 during midday trading on Tuesday, hitting $47.26. The company’s stock had a trading volume of 3,968 shares, compared to its average volume of 9,640. The firm has a 50-day simple moving average of $46.48 and a 200-day simple moving average of $41.60. The firm has a market capitalization of $278.69 million, a P/E ratio of 9.91 and a beta of 0.70. Plumas Bancorp has a 52-week low of $32.50 and a 52-week high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.17. Plumas Bancorp had a return on equity of 17.31% and a net margin of 31.02%. The firm had revenue of $24.10 million during the quarter, compared to analyst estimates of $20.60 million. On average, sell-side analysts expect that Plumas Bancorp will post 4.72 earnings per share for the current fiscal year.

Plumas Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, November 1st. 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.