Plumas Bancorp (NASDAQ:PLBC) Sees Significant Drop in Short Interest

Plumas Bancorp (NASDAQ:PLBC) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 22,400 shares, a drop of 15.5% from the December 15th total of 26,500 shares. Based on an average trading volume of 12,900 shares, the days-to-cover ratio is currently 1.7 days.

Insider Buying and Selling at Plumas Bancorp

In other Plumas Bancorp news, EVP Bj North sold 2,496 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 9.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Plumas Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Albert D Mason Inc. grew its position in shares of Plumas Bancorp by 4.0% in the 4th quarter. Albert D Mason Inc. now owns 7,479 shares of the financial services provider’s stock valued at $353,000 after buying an additional 286 shares during the last quarter. Rhumbline Advisers boosted its stake in 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 acquiring an additional 290 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Plumas Bancorp by 7.9% during the third quarter. Jane Street Group LLC now owns 6,206 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 457 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Plumas Bancorp by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 29,394 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 2,036 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Plumas Bancorp in the 4th quarter valued at about $105,000. 41.68% of the stock is owned by institutional investors and hedge funds.

Plumas Bancorp Stock Performance

Shares of NASDAQ:PLBC traded up $1.36 during trading hours on Friday, reaching $46.94. The stock had a trading volume of 10,188 shares, compared to its average volume of 9,390. Plumas Bancorp has a 1 year low of $32.50 and a 1 year high of $51.33. The firm’s 50 day moving average is $47.20 and its 200-day moving average is $42.57. The stock has a market capitalization of $276.95 million, a price-to-earnings ratio of 9.84 and a beta of 0.71.

Plumas Bancorp (NASDAQ:PLBC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.15 by $0.14. Plumas Bancorp had a return on equity of 17.31% and a net margin of 31.02%. Analysts forecast that Plumas Bancorp will post 4.72 EPS for the current year.

Plumas Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be paid a dividend of $0.30 per share. This is a boost from Plumas Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date is Monday, February 3rd. This represents a $1.20 annualized dividend and a yield of 2.56%. Plumas Bancorp’s payout ratio is presently 22.64%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Stephens began coverage on Plumas Bancorp in a research note on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 price objective on the stock. Raymond James reiterated an “outperform” rating and issued a $49.00 price objective (up previously from $45.00) on shares of Plumas Bancorp in a research note on Thursday.

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.