Plumas Bancorp (NASDAQ:PLBC) Sees Large Increase in Short Interest

Plumas Bancorp (NASDAQ:PLBC) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 25,900 shares, a growth of 23.9% from the June 30th total of 20,900 shares. Based on an average trading volume of 8,900 shares, the days-to-cover ratio is presently 2.9 days.

Insider Activity

In related news, Director Sushil Amathalal Patel purchased 1,374 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was acquired at an average price of $35.63 per share, for a total transaction of $48,955.62. Following the completion of the purchase, the director now directly owns 1,374 shares of the company’s stock, valued at $48,955.62. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Plumas Bancorp news, Director Sushil Amathalal Patel acquired 1,374 shares of the business’s stock in a transaction on Monday, May 20th. The stock was purchased at an average price of $35.63 per share, for a total transaction of $48,955.62. Following the completion of the transaction, the director now owns 1,374 shares of the company’s stock, valued at approximately $48,955.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bj North sold 1,136 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $35.02, for a total value of $39,782.72. Following the completion of the transaction, the executive vice president now owns 2,496 shares of the company’s stock, valued at approximately $87,409.92. The disclosure for this sale can be found here. Corporate insiders own 9.00% of the company’s stock.

Institutional Trading of Plumas Bancorp

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Plumas Bancorp during the fourth quarter valued at $114,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Plumas Bancorp in the 4th quarter worth about $116,000. Albert D Mason Inc. raised its holdings in shares of Plumas Bancorp by 5.9% in the 1st quarter. Albert D Mason Inc. now owns 7,020 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 392 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Plumas Bancorp by 55.8% in the 4th quarter. BNP Paribas Financial Markets now owns 8,714 shares of the financial services provider’s stock worth $360,000 after purchasing an additional 3,121 shares during the period. Finally, Kennedy Capital Management LLC purchased a new position in shares of Plumas Bancorp in the 1st quarter worth about $589,000. Institutional investors and hedge funds own 41.68% of the company’s stock.

Plumas Bancorp Price Performance

Plumas Bancorp stock traded up $0.14 during trading hours on Friday, hitting $42.73. The stock had a trading volume of 10,810 shares, compared to its average volume of 15,291. The stock has a market capitalization of $251.94 million, a price-to-earnings ratio of 8.94 and a beta of 0.71. Plumas Bancorp has a 1-year low of $32.12 and a 1-year high of $45.00. The stock’s fifty day moving average is $36.05 and its two-hundred day moving average is $35.90.

Plumas Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.53%. The ex-dividend date is Thursday, August 1st. Plumas Bancorp’s dividend payout ratio (DPR) is 22.59%.

Analyst Ratings Changes

Separately, StockNews.com raised Plumas Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, May 9th.

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.