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

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 20,200 shares, a drop of 15.1% from the September 30th total of 23,800 shares. Based on an average trading volume of 11,900 shares, the days-to-cover ratio is presently 1.7 days.

Insider Activity

In other news, EVP Bj North sold 2,496 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.55, for a total transaction of $106,204.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 9.00% of the company's stock.

Hedge Funds Weigh In On Plumas Bancorp

Hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in shares of Plumas Bancorp by 4.9% in the second quarter. Rhumbline Advisers now owns 6,247 shares of the financial services provider's stock worth $225,000 after buying an additional 290 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Plumas Bancorp by 32.8% in the first quarter. BNP Paribas Financial Markets now owns 11,570 shares of the financial services provider's stock worth $426,000 after buying an additional 2,856 shares in the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Plumas Bancorp in the first quarter worth $589,000. Bank of New York Mellon Corp raised its stake in 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 valued at $1,058,000 after purchasing an additional 2,036 shares in the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. purchased a new stake in Plumas Bancorp during the second quarter valued at $1,247,000. 41.68% of the stock is currently owned by institutional investors.

Plumas Bancorp Trading Up 5.7 %

NASDAQ PLBC traded up $2.30 during trading hours on Monday, hitting $42.65. 17,448 shares of the company's stock traded hands, compared to its average volume of 9,096. The business's fifty day moving average price is $40.53 and its two-hundred day moving average price is $37.81. The firm has a market capitalization of $251.64 million, a P/E ratio of 8.94 and a beta of 0.68. Plumas Bancorp has a 52 week low of $32.50 and a 52 week high of $45.00.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last announced 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 company had revenue of $24.10 million during the quarter, compared to analyst estimates of $20.60 million. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.97%. On average, sell-side analysts expect that Plumas Bancorp will post 4.66 EPS for the current fiscal year.

Plumas Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $0.27 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.53%. Plumas Bancorp's payout ratio is currently 22.64%.

Wall Street Analysts Forecast Growth

Separately, 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 research report on Wednesday, October 2nd.

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.