Private Bancorp of America (OTCMKTS:PBAM) Sets New 52-Week High – Should You Buy?

Shares of Private Bancorp of America, Inc. (OTCMKTS:PBAM) reached a new 52-week high on Monday . The company traded as high as $88.20 and last traded at $88.15, with a volume of 6844 shares trading hands. The stock had previously closed at $87.71.

Analysts Set New Price Targets

PBAM has been the topic of several recent analyst reports. DA Davidson set a $105.00 target price on shares of Private Bancorp of America in a research note on Monday. Piper Sandler upped their price target on shares of Private Bancorp of America from $88.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Finally, Zacks Research lowered shares of Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 19th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Private Bancorp of America presently has an average rating of “Moderate Buy” and a consensus price target of $93.67.

Private Bancorp of America Stock Performance

The firm has a market capitalization of $507.67 million, a P/E ratio of 11.51 and a beta of 0.06. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average price of $79.84 and a two-hundred day moving average price of $73.27.

Private Bancorp of America (OTCMKTS:PBAM) last posted its quarterly earnings results on Monday, July 20th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.27. Private Bancorp of America had a net margin of 25.45% and a return on equity of 16.85%. The firm had revenue of $44.38 million during the quarter, compared to the consensus estimate of $34.47 million. On average, analysts forecast that Private Bancorp of America, Inc. will post 8.52 EPS for the current fiscal year.

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.