Plumas Bancorp (NASDAQ:PLBC) Short Interest Down 15.1% in October

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

Insider Activity at Plumas Bancorp

In related news, EVP Bj North sold 2,496 shares of Plumas Bancorp stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.55, for a total value of $106,204.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Plumas Bancorp by 0.7% in the first quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock valued at $10,310,000 after acquiring an additional 1,862 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Plumas Bancorp by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock valued at $2,847,000 after purchasing an additional 4,838 shares during the period. Elizabeth Park Capital Advisors Ltd. purchased a new stake in Plumas Bancorp in the second quarter valued at approximately $1,247,000. Bank of New York Mellon Corp raised its position in Plumas Bancorp by 7.4% in 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 during the period. Finally, Kennedy Capital Management LLC purchased a new stake in Plumas Bancorp in the first quarter valued at approximately $589,000. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Plumas Bancorp Stock Down 0.5 %

Shares of Plumas Bancorp stock traded down $0.20 on Wednesday, hitting $42.36. 16,282 shares of the company were exchanged, compared to its average volume of 9,118. The stock has a market capitalization of $249.92 million, a price-to-earnings ratio of 8.92 and a beta of 0.68. The company has a 50-day moving average price of $40.70 and a 200 day moving average price of $37.92. Plumas Bancorp has a 1-year low of $32.50 and a 1-year high of $45.00.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.17. Plumas Bancorp had a return on equity of 17.97% and a net margin of 31.02%. The firm had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $20.60 million. Research analysts forecast that Plumas Bancorp will post 4.66 EPS for the current year.

Plumas Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Friday, November 1st. Plumas Bancorp’s dividend payout ratio is presently 22.64%.

Wall Street Analysts Forecast Growth

Separately, Raymond James lifted their price objective on Plumas Bancorp from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd.

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.