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

Plumas Bancorp (NASDAQ:PLBC) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 26,900 shares, a growth of 15.5% from the August 15th total of 23,300 shares. Based on an average trading volume of 10,900 shares, the days-to-cover ratio is presently 2.5 days.

Hedge Funds Weigh In On Plumas Bancorp

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Plumas Bancorp by 0.7% in the first quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock valued at $10,310,000 after purchasing an additional 1,862 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Plumas Bancorp by 32.8% in the first quarter. BNP Paribas Financial Markets now owns 11,570 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 2,856 shares in the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Plumas Bancorp in the first quarter valued at $589,000. Dimensional Fund Advisors LP grew its position in shares of Plumas Bancorp by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock valued at $2,847,000 after purchasing an additional 4,838 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Plumas Bancorp by 4.9% in the second quarter. Rhumbline Advisers now owns 6,247 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 290 shares in the last quarter. 41.68% of the stock is currently owned by hedge funds and other institutional investors.

Plumas Bancorp Stock Performance

NASDAQ:PLBC traded down $0.42 during trading hours on Monday, reaching $40.90. The stock had a trading volume of 23,190 shares, compared to its average volume of 8,046. The stock has a 50 day simple moving average of $39.65 and a 200 day simple moving average of $36.66. Plumas Bancorp has a 12-month low of $32.50 and a 12-month high of $45.00. The stock has a market cap of $241.31 million, a P/E ratio of 8.56 and a beta of 0.68.

Plumas Bancorp (NASDAQ:PLBC) last released its earnings results on Wednesday, July 17th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. Plumas Bancorp had a return on equity of 19.22% and a net margin of 32.14%. The business had revenue of $20.61 million during the quarter, compared to the consensus estimate of $20.00 million. On average, equities analysts expect that Plumas Bancorp will post 4.47 earnings per share for the current fiscal year.

Plumas Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Thursday, August 1st. Plumas Bancorp’s dividend payout ratio is currently 22.59%.

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.