Private Bancorp of America, Inc. (OTCMKTS:PBAM) Short Interest Update

Private Bancorp of America, Inc. (OTCMKTS:PBAM) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 1,141 shares, an increase of 275.3% from the May 31st total of 304 shares. Based on an average daily volume of 5,485 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are short sold.

Private Bancorp of America Price Performance

OTCMKTS PBAM traded down $1.15 during trading hours on Friday, reaching $74.80. The company’s stock had a trading volume of 12,551 shares, compared to its average volume of 2,422. The firm has a market capitalization of $428.60 million, a price-to-earnings ratio of 10.39 and a beta of 0.07. Private Bancorp of America has a 1-year low of $53.71 and a 1-year high of $78.53. 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 company’s 50-day moving average is $73.83 and its two-hundred day moving average is $66.69.

Private Bancorp of America (OTCMKTS:PBAM) last issued its quarterly earnings data on Friday, April 17th. The company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.75 by $0.32. The company had revenue of $34.54 million for the quarter, compared to analyst estimates of $31.99 million. Private Bancorp of America had a return on equity of 16.12% and a net margin of 24.01%. On average, equities analysts predict that Private Bancorp of America will post 8.22 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. DA Davidson lifted their price objective on Private Bancorp of America from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Brean Capital initiated coverage on Private Bancorp of America in a research note on Thursday, April 16th. They issued a “buy” rating and a $80.00 target price on the stock. Zacks Research lowered Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a report on Friday, June 19th. Finally, 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 report on Monday, April 20th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.33.

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.