Piper Sandler Raises Private Bancorp of America (OTCMKTS:PBAM) Price Target to $96.00

Private Bancorp of America (OTCMKTS:PBAM) had its target price boosted by analysts at Piper Sandler from $88.00 to $96.00 in a note issued to investors on Monday, Marketbeat.com reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 19.25% from the company’s current price.

A number of other analysts have also recently commented on the company. 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 target for the company. DA Davidson reissued a “buy” rating and issued a $91.00 price objective on shares of Private Bancorp of America in a report on Friday, July 17th. Finally, Zacks Research cut Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 19th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Private Bancorp of America currently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

Private Bancorp of America Trading Up 0.2%

OTCMKTS:PBAM opened at $80.50 on Monday. Private Bancorp of America has a 12 month low of $54.45 and a 12 month high of $81.50. The firm has a fifty day simple moving average of $74.58 and a 200-day simple moving average of $69.03. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $461.26 million, a P/E ratio of 10.45 and a beta of 0.07.

Private Bancorp of America (OTCMKTS:PBAM) last released its earnings results on Monday, July 20th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.27. Private Bancorp of America had a return on equity of 16.85% and a net margin of 25.45%.The firm had revenue of $44.38 million for the quarter, compared to the consensus estimate of $34.47 million. On average, equities research 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.