Short Interest in Plumas Bancorp (NASDAQ:PLBC) Decreases By 15.1%

Plumas Bancorp (NASDAQ:PLBC) saw a large decrease in short interest during 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.

Plumas Bancorp Trading Down 0.2 %

Shares of PLBC stock traded down $0.09 during trading hours on Tuesday, hitting $42.56. 6,514 shares of the company were exchanged, compared to its average volume of 9,084. Plumas Bancorp has a 52 week low of $32.50 and a 52 week high of $45.00. The business has a 50 day moving average of $40.61 and a two-hundred day moving average of $37.87. The company has a market capitalization of $251.10 million, a PE ratio of 8.93 and a beta of 0.68.

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, topping analysts’ consensus estimates of $1.14 by $0.17. The firm had revenue of $24.10 million during the quarter, compared to analysts’ expectations of $20.60 million. Plumas Bancorp had a return on equity of 17.97% and a net margin of 31.02%. On average, research analysts forecast that Plumas Bancorp will post 4.66 EPS for the current year.

Plumas Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, November 1st. Plumas Bancorp’s dividend payout ratio is presently 22.64%.

Insider Activity

In other Plumas Bancorp news, EVP Bj North sold 2,496 shares of the stock in a transaction 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 document filed with the SEC, which is available through the SEC website. 9.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plumas Bancorp

Large investors have recently bought and sold shares of the company. Rhumbline Advisers raised its holdings 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 during the last quarter. BNP Paribas Financial Markets lifted its position in Plumas Bancorp by 32.8% during the 1st quarter. BNP Paribas Financial Markets now owns 11,570 shares of the financial services provider’s stock worth $426,000 after buying an additional 2,856 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in Plumas Bancorp during the 1st quarter worth about $589,000. Bank of New York Mellon Corp boosted its stake in shares of Plumas Bancorp by 7.4% during the 2nd 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 last quarter. Finally, Elizabeth Park Capital Advisors Ltd. bought a new position in shares of Plumas Bancorp in the 2nd quarter valued at about $1,247,000. Institutional investors and hedge funds own 41.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.