Short Interest in Plumas Bancorp (NASDAQ:PLBC) Drops By 26.9%

Plumas Bancorp (NASDAQ:PLBC) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 16,600 shares, a decline of 26.9% from the August 15th total of 22,700 shares. Based on an average trading volume of 23,500 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.4% of the shares of the stock are short sold.

Shares of Plumas Bancorp stock traded down $0.67 on Monday, hitting $31.15. 2,637 shares of the company’s stock traded hands, compared to its average volume of 14,889. The firm’s 50-day moving average price is $32.12 and its two-hundred day moving average price is $30.41. The stock has a market capitalization of $180.98 million, a PE ratio of 9.85 and a beta of 0.63. Plumas Bancorp has a one year low of $18.70 and a one year high of $33.26. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.86.

Plumas Bancorp (NASDAQ:PLBC) last issued its earnings results on Wednesday, July 21st. The financial services provider reported $0.85 EPS for the quarter. The company had revenue of $11.81 million during the quarter. Plumas Bancorp had a net margin of 33.77% and a return on equity of 16.88%.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Monday, August 2nd were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Friday, July 30th.

In related news, Director Heidi S. Gansert acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 3rd. The stock was purchased at an average price of $31.95 per share, for a total transaction of $31,950.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $31,950. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michonne R. Ascuaga acquired 838 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The stock was bought at an average price of $31.83 per share, with a total value of $26,673.54. The disclosure for this purchase can be found here. 9.90% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLBC. The Manufacturers Life Insurance Company bought a new stake in shares of Plumas Bancorp in the 1st quarter valued at $1,732,000. BNP Paribas Arbitrage SA increased its position in shares of Plumas Bancorp by 99.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,266 shares of the financial services provider’s stock valued at $66,000 after buying an additional 1,132 shares in the last quarter. BlackRock Inc. increased its position in shares of Plumas Bancorp by 8.0% in the 1st quarter. BlackRock Inc. now owns 257,463 shares of the financial services provider’s stock valued at $7,531,000 after buying an additional 19,081 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Plumas Bancorp by 6.4% in the 1st quarter. JPMorgan Chase & Co. now owns 14,786 shares of the financial services provider’s stock valued at $433,000 after buying an additional 892 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Plumas Bancorp by 30.9% in the 1st quarter. Geode Capital Management LLC now owns 44,629 shares of the financial services provider’s stock valued at $1,305,000 after buying an additional 10,539 shares in the last quarter. Institutional investors and hedge funds own 27.32% of the company’s stock.

About Plumas Bancorp

Plumas Bancorp is a bank holding company, which engages in the provision of banking products and service. It offers a wide range of deposit products for the retail and commercial banking markets such as checking, interest-bearing and premium interest-bearing checking, business sweep, public funds sweep, savings, time deposit and retirement accounts, remote deposit, telephone and mobile banking, mobile deposit, and internet banking with bill-pay options.

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