Short Interest in Plumas Bancorp (NASDAQ:PLBC) Declines By 31.3%

Plumas Bancorp (NASDAQ:PLBC) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 18,400 shares, a decline of 31.3% from the October 31st total of 26,800 shares. Based on an average daily volume of 13,200 shares, the days-to-cover ratio is currently 1.4 days.

Insider Buying and Selling at Plumas Bancorp

In other Plumas Bancorp 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 transaction of $106,204.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plumas Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in PLBC. Vanguard Group Inc. increased its holdings in Plumas Bancorp by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock worth $10,310,000 after acquiring an additional 1,862 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in 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 in the last quarter. De Lisle Partners LLP increased its holdings in Plumas Bancorp by 61.5% in the 3rd quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider’s stock worth $6,068,000 after acquiring an additional 57,051 shares in the last quarter. Geode Capital Management LLC increased its holdings in Plumas Bancorp by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider’s stock worth $5,033,000 after acquiring an additional 6,075 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased 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 worth $2,847,000 after acquiring an additional 4,838 shares in the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Analyst Upgrades and Downgrades

PLBC has been the topic of a number of research reports. Stephens initiated coverage on shares of Plumas Bancorp in a report on Wednesday. They set an “overweight” rating and a $60.00 target price on the stock. Raymond James boosted their target price on shares of Plumas Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd.

Plumas Bancorp Price Performance

Plumas Bancorp stock traded up $0.64 during mid-day trading on Friday, reaching $50.10. The stock had a trading volume of 6,763 shares, compared to its average volume of 9,590. The company has a market capitalization of $295.59 million, a price-to-earnings ratio of 10.37 and a beta of 0.67. The company has a 50-day moving average price of $42.96 and a two-hundred day moving average price of $39.44. Plumas Bancorp has a one year low of $32.50 and a one year high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last posted its 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. The business had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $20.60 million. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.31%. On average, equities research analysts anticipate that Plumas Bancorp will post 4.66 earnings per share for the current fiscal year.

Plumas Bancorp Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, November 1st. Plumas Bancorp’s payout ratio is currently 22.64%.

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.