Private Bancorp of America, Inc. (OTCMKTS:PBAM) Short Interest Up 30,300.0% in May

Private Bancorp of America, Inc. (OTCMKTS:PBAM) saw a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 304 shares, a growth of 30,300.0% from the May 14th total of 1 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 4,013 shares, the short-interest ratio is presently 0.1 days.

Private Bancorp of America Price Performance

Shares of OTCMKTS PBAM traded up $0.49 during midday trading on Tuesday, reaching $72.69. The company’s stock had a trading volume of 4,574 shares, compared to its average volume of 6,043. Private Bancorp of America has a one year low of $53.25 and a one year high of $78.53. The company has a market cap of $415.06 million, a price-to-earnings ratio of 10.10 and a beta of 0.07. The company has a 50 day moving average price of $72.02 and a 200 day moving average price of $64.98. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03.

Private Bancorp of America (OTCMKTS:PBAM) last posted its quarterly earnings results on Friday, April 17th. The company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.32. The firm had revenue of $34.54 million for the quarter, compared to analyst estimates of $31.99 million. Private Bancorp of America had a net margin of 24.01% and a return on equity of 16.12%. On average, equities research analysts expect that Private Bancorp of America will post 8.21 EPS for the current year.

Wall Street Analyst Weigh In

PBAM has been the subject of a number of recent analyst reports. DA Davidson increased their target price on shares of Private Bancorp of America from $80.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $88.00 price target (up from $77.00) on shares of Private Bancorp of America in a research note on Monday, April 20th. Brean Capital started coverage on shares of Private Bancorp of America in a report on Thursday, April 16th. They issued a “buy” rating and a $80.00 price objective for the company. Finally, Zacks Research upgraded shares of Private Bancorp of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $86.33.

Private Bancorp of America Company Profile

Private Bancorp of America, Inc operates as the bank holding company for CalPrivate Bank that provides banking products and services to individuals and businesses in California. The company offers checking and savings, money market, certificate of deposit, sweep, zero balance, and individual retirement accounts; unsecured lines of credit, personal credit lines, and term loans; additional services, such as direct deposits, online banking, ATM and debit cards, credit cards, savings/line of credit overdraft protection, and safe deposit boxes; and certificate of deposit account registry services.