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

Plumas Bancorp (NASDAQ:PLBC) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 18,400 shares, a decrease 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 presently 1.4 days.

Plumas Bancorp Trading Up 1.3 %

Shares of Plumas Bancorp stock traded up $0.64 during trading on Friday, hitting $50.10. 6,763 shares of the stock traded hands, compared to its average volume of 9,590. The firm has a market cap of $295.59 million, a P/E ratio of 10.37 and a beta of 0.67. Plumas Bancorp has a 52-week low of $32.50 and a 52-week high of $51.33. The stock’s fifty day simple moving average is $42.96 and its 200 day simple moving average is $39.44.

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. Plumas Bancorp had a return on equity of 17.31% and a net margin of 31.02%. The company had revenue of $24.10 million for the quarter, compared to analyst estimates of $20.60 million. As a group, equities analysts expect 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 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 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, November 1st. Plumas Bancorp’s dividend payout ratio (DPR) is 22.64%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PLBC shares. Stephens assumed coverage on Plumas Bancorp in a research note on Wednesday. They issued an “overweight” rating and a $60.00 target price on the stock. Raymond James raised their price target on Plumas Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd.

Insiders Place Their Bets

In other Plumas Bancorp news, EVP Bj North sold 2,496 shares of the stock in a transaction on Tuesday, October 22nd. The stock was 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 at this hyperlink. 9.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its position in Plumas Bancorp by 275.4% during the third quarter. Barclays PLC now owns 7,155 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 5,249 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 buying an additional 6,075 shares in the last quarter. Jane Street Group LLC increased its position in shares of Plumas Bancorp by 7.9% in the third quarter. Jane Street Group LLC now owns 6,206 shares of the financial services provider’s stock valued at $253,000 after buying an additional 457 shares in the last quarter. State Street Corp increased its position in shares of Plumas Bancorp by 3.8% in the third quarter. State Street Corp now owns 68,879 shares of the financial services provider’s stock valued at $2,809,000 after buying an additional 2,526 shares in the last quarter. Finally, Fourthstone LLC purchased a new stake in shares of Plumas Bancorp in the third quarter valued at approximately $521,000. 41.68% of the stock is currently owned by hedge funds and other institutional investors.

Plumas Bancorp Company Profile

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.