Private Bancorp of America (OTCMKTS:PBAM) Receives “Buy” Rating from DA Davidson

Private Bancorp of America (OTCMKTS:PBAM)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a research note issued on Friday,Benzinga reports. They currently have a $91.00 price objective on the stock. DA Davidson’s price target would suggest a potential upside of 14.47% from the company’s previous close.

A number of other research firms have also recently issued reports on PBAM. Brean Capital began coverage on Private Bancorp of America in a research report on Thursday, April 16th. They set a “buy” rating and a $80.00 price objective on the stock. Piper Sandler reiterated 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, Zacks Research lowered shares of Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a report on Friday, June 19th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.33.

Private Bancorp of America Stock Performance

PBAM stock traded down $0.24 during trading on Friday, reaching $79.50. 6,794 shares of the stock were exchanged, compared to its average volume of 5,577. Private Bancorp of America has a twelve month low of $54.45 and a twelve month high of $81.39. The company has a market capitalization of $455.54 million, a P/E ratio of 11.04 and a beta of 0.07. The stock has a 50 day simple moving average of $74.24 and a 200-day simple moving average of $68.55. 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 issued its quarterly earnings results on Thursday, July 16th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.27. The firm had revenue of $44.38 million for the quarter, compared to analyst estimates of $34.47 million. Private Bancorp of America had a return on equity of 16.12% and a net margin of 24.01%. As a group, sell-side analysts anticipate that Private Bancorp of America will post 8.22 earnings per share for the current 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.