Plumas Bancorp (NASDAQ:PLBC) Short Interest Down 74.5% in May

Plumas Bancorp (NASDAQ:PLBCGet Rating) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 13,700 shares, a decrease of 74.5% from the April 30th total of 53,800 shares. Based on an average trading volume of 20,500 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.3% of the company’s shares are short sold.

Separately, StockNews.com downgraded shares of Plumas Bancorp from a “buy” rating to a “hold” rating in a research report on Monday.

Plumas Bancorp stock opened at $29.90 on Thursday. The company has a market capitalization of $174.71 million, a P/E ratio of 7.73 and a beta of 0.61. The firm’s fifty day simple moving average is $35.35 and its 200-day simple moving average is $35.92. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.08. Plumas Bancorp has a 1-year low of $28.20 and a 1-year high of $41.30.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Monday, May 2nd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, April 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.14%. Plumas Bancorp’s dividend payout ratio is currently 16.54%.

Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Plumas Bancorp by 2.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 163,448 shares of the financial services provider’s stock valued at $6,227,000 after purchasing an additional 3,267 shares in the last quarter. State Street Corp grew its stake in Plumas Bancorp by 41.7% in the 1st quarter. State Street Corp now owns 14,145 shares of the financial services provider’s stock valued at $539,000 after buying an additional 4,160 shares during the last quarter. UBS Group AG grew its stake in Plumas Bancorp by 22.0% in the 1st quarter. UBS Group AG now owns 4,393 shares of the financial services provider’s stock valued at $168,000 after buying an additional 793 shares during the last quarter. Vanguard Group Inc. grew its stake in Plumas Bancorp by 28.1% in the 1st quarter. Vanguard Group Inc. now owns 234,448 shares of the financial services provider’s stock valued at $8,933,000 after buying an additional 51,497 shares during the last quarter. Finally, Grandeur Peak Global Advisors LLC grew its stake in Plumas Bancorp by 15.9% in the 1st quarter. Grandeur Peak Global Advisors LLC now owns 218,199 shares of the financial services provider’s stock valued at $8,313,000 after buying an additional 30,011 shares during the last quarter. Institutional investors and hedge funds own 31.02% of the company’s stock.

Plumas Bancorp Company Profile (Get Rating)

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.

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