Private Bancorp of America, Inc. (OTCMKTS:PBAM) Sees Large Decrease in Short Interest

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totaling 1,546 shares, a drop of 42.8% from the March 31st total of 2,705 shares. Based on an average daily trading volume, of 7,268 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

PBAM has been the subject of several research analyst reports. 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. DA Davidson raised their price target on shares of Private Bancorp of America from $80.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Piper Sandler restated an “overweight” rating and set a $88.00 price target (up from $77.00) on shares of Private Bancorp of America in a research note on Monday, April 20th. Finally, Brean Capital initiated coverage on shares of Private Bancorp of America in a research note on Thursday, April 16th. They set a “buy” rating and a $80.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $86.33.

Private Bancorp of America Stock Performance

Shares of PBAM stock opened at $74.30 on Monday. Private Bancorp of America has a 12-month low of $53.05 and a 12-month high of $74.50. The firm has a market cap of $425.00 million, a P/E ratio of 10.32 and a beta of 0.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $68.10 and a 200-day moving average of $61.61.

Private Bancorp of America (OTCMKTS:PBAM) last released its quarterly earnings data on Friday, April 17th. The company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.32. Private Bancorp of America had a net margin of 24.01% and a return on equity of 16.38%. The business had revenue of $34.54 million during the quarter, compared to analyst estimates of $31.99 million. Sell-side analysts anticipate that Private Bancorp of America will post 8.21 earnings per share for the current year.

About Private Bancorp of America

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.