Private Bancorp of America (OTCMKTS:PBAM) Given “Buy” Rating at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Private Bancorp of America (OTCMKTS:PBAM) in a research note issued to investors on Friday morning,Benzinga reports. DA Davidson currently has a $91.00 price target on the stock.

PBAM has been the subject of a number of other research reports. Zacks Research downgraded shares of Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a report on Friday, June 19th. Brean Capital initiated coverage on shares of Private Bancorp of America in a research note on Thursday, April 16th. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, Piper Sandler reiterated an “overweight” rating and set a $88.00 target price (up from $77.00) on shares of Private Bancorp of America in a research report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.33.

Private Bancorp of America Price Performance

PBAM stock opened at $79.50 on Friday. The stock has a 50-day moving average price of $74.33 and a two-hundred day moving average price of $68.63. The stock has a market cap of $455.54 million, a PE ratio of 10.32 and a beta of 0.07. 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 has a 1 year low of $54.45 and a 1 year high of $81.39.

Private Bancorp of America (OTCMKTS:PBAM) last issued its quarterly earnings results on Thursday, July 16th. The company reported $2.27 earnings per share for the quarter, topping 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 company had revenue of $44.38 million during the quarter, compared to analysts’ expectations of $34.47 million. Equities analysts forecast that Private Bancorp of America will post 8.22 EPS for the current fiscal 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.