Private Bancorp of America (OTCMKTS:PBAM) Releases Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Private Bancorp of America (OTCMKTS:PBAM) released its earnings results on Thursday. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.27, Zacks reports. Private Bancorp of America had a net margin of 24.01% and a return on equity of 16.12%.

Private Bancorp of America Stock Performance

Shares of PBAM opened at $80.00 on Thursday. Private Bancorp of America has a 12-month low of $54.45 and a 12-month high of $80.00. The firm has a market capitalization of $458.08 million, a P/E ratio of 11.11 and a beta of 0.07. The firm has a 50-day moving average price of $74.15 and a 200 day moving average price of $68.39. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PBAM. Brean Capital assumed coverage on Private Bancorp of America in a report on Thursday, April 16th. They issued a “buy” rating and a $80.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and set a $88.00 target price (up from $77.00) on shares of Private Bancorp of America in a report on Monday, April 20th. DA Davidson raised their target price on 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. Finally, Zacks Research lowered Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 19th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Private Bancorp of America presently has a consensus rating of “Moderate 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.