Private Bancorp of America, Inc. (OTCMKTS:PBAM) Sees Large Growth in Short Interest

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totaling 1,017 shares, a growth of 897.1% from the June 30th total of 102 shares. Based on an average daily volume of 8,844 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

Private Bancorp of America Stock Performance

OTCMKTS:PBAM opened at $81.24 on Friday. The firm’s fifty day simple moving average is $74.99 and its 200 day simple moving average is $69.45. 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 twelve month low of $54.45 and a twelve month high of $81.50. The firm has a market capitalization of $465.51 million, a price-to-earnings ratio of 10.55 and a beta of 0.07.

Private Bancorp of America (OTCMKTS:PBAM) last released its quarterly earnings data on Monday, July 20th. The company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.00 by $0.27. The company 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 16.85% and a net margin of 25.45%. As a group, equities research analysts expect that Private Bancorp of America will post 8.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. Piper Sandler boosted their target price on Private Bancorp of America from $88.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. DA Davidson lifted their price target on Private Bancorp of America from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Monday. 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. Finally, Brean Capital assumed coverage on shares of Private Bancorp of America in a research report on Thursday, April 16th. They issued a “buy” rating and a $80.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.67.

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.