Plumas Bancorp (NASDAQ:PLBC) Short Interest Up 17.9% in November

Plumas Bancorp (NASDAQ:PLBC) saw a significant increase in short interest in November. As of November 30th, there was short interest totalling 21,700 shares, an increase of 17.9% from the November 15th total of 18,400 shares. Based on an average daily trading volume, of 13,800 shares, the short-interest ratio is currently 1.6 days.

Plumas Bancorp Price Performance

PLBC stock traded up $0.28 during trading on Monday, hitting $49.14. 10,118 shares of the stock traded hands, compared to its average volume of 9,516. The stock has a market cap of $289.78 million, a price-to-earnings ratio of 10.30 and a beta of 0.70. 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 $44.84 and its two-hundred day moving average is $40.59.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings results 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. The firm had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $20.60 million. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.31%. As a group, analysts anticipate that Plumas Bancorp will post 4.72 EPS for the current fiscal year.

Plumas Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Friday, November 1st. Plumas Bancorp’s dividend payout ratio is currently 22.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PLBC shares. Raymond James upped their price objective on shares of Plumas Bancorp from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Stephens initiated coverage on Plumas Bancorp in a research report on Wednesday, November 27th. They set an “overweight” rating and a $60.00 price objective for the company.

Insider Buying and Selling

In other news, EVP Bj North sold 2,496 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which is accessible through the SEC website. 9.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Plumas Bancorp

Institutional investors have recently modified their holdings of the business. Elizabeth Park Capital Advisors Ltd. purchased a new position in Plumas Bancorp in the 2nd quarter worth about $1,247,000. The Manufacturers Life Insurance Company raised its holdings in shares of Plumas Bancorp by 5.8% during the third quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock valued at $6,954,000 after purchasing an additional 9,328 shares during the last quarter. De Lisle Partners LLP raised its holdings in shares of Plumas Bancorp by 61.5% during the third quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider’s stock valued at $6,068,000 after purchasing an additional 57,051 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 worth $2,847,000 after purchasing an additional 4,838 shares during the last quarter. Finally, Fourthstone LLC purchased a new stake in Plumas Bancorp in the third quarter worth approximately $521,000. 41.68% of the stock is owned by hedge funds and other institutional investors.

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.