Plumas Bancorp (NASDAQ:PLBC) Short Interest Update

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

Plumas Bancorp Stock Performance

Plumas Bancorp stock traded up $0.10 during midday trading on Tuesday, hitting $47.26. 3,968 shares of the company’s stock were exchanged, compared to its average volume of 9,640. The firm’s 50 day simple moving average is $46.48 and its 200 day simple moving average is $41.60. Plumas Bancorp has a 12-month low of $32.50 and a 12-month high of $51.33. The stock has a market cap of $278.69 million, a price-to-earnings ratio of 9.91 and a beta of 0.70.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings results 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 return on equity of 17.31% and a net margin of 31.02%. The firm had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $20.60 million. On average, equities research analysts forecast that Plumas Bancorp will post 4.72 EPS for the current fiscal year.

Plumas Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Friday, November 1st. Plumas Bancorp’s dividend payout ratio is presently 22.64%.

Analyst Ratings Changes

PLBC has been the subject of a number of research analyst reports. Raymond James upped 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. Stephens assumed 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.

Insider Buying and Selling at Plumas Bancorp

In related news, EVP Bj North sold 2,496 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Plumas Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Plumas Bancorp by 5.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock worth $6,954,000 after acquiring an additional 9,328 shares during the period. De Lisle Partners LLP raised its holdings in Plumas Bancorp by 61.5% during the third quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider’s stock worth $6,068,000 after purchasing an additional 57,051 shares in the last quarter. Geode Capital Management LLC lifted its position in Plumas Bancorp by 5.2% in the third quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider’s stock valued at $5,033,000 after purchasing an additional 6,075 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Plumas Bancorp by 6.5% in the 2nd 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, State Street Corp increased its position in Plumas Bancorp by 3.8% during the 3rd quarter. State Street Corp now owns 68,879 shares of the financial services provider’s stock worth $2,809,000 after purchasing an additional 2,526 shares during the period. 41.68% of the stock is currently owned by hedge funds and other institutional investors.

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.