Piper Sandler Issues Positive Forecast for Private Bancorp of America (OTCMKTS:PBAM) Stock Price

Key Points

• Piper Sandler raised its price target on Private Bancorp of America from $88 to $96 and kept an overweight rating, implying about 20.75% upside from the prior close.
• The stock also has generally positive analyst support, with three analysts rating it Buy and one Hold; MarketBeat’s consensus target is $89.
• Private Bancorp of America recently beat earnings expectations, reporting $2.27 EPS versus the $2.00 estimate and $44.38 million in revenue versus the $34.47 million forecast.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) had its price target lifted by stock analysts at Piper Sandler from $88.00 to $96.00 in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price target would suggest a potential upside of 20.75% from the company's previous close.

Several other equities research analysts also recently weighed in on PBAM. Brean Capital assumed coverage on Private Bancorp of America in a report on Thursday, April 16th. They issued a "buy" rating and a $80.00 price objective for the company. Zacks Research cut shares of Private Bancorp of America from a "strong-buy" rating to a "hold" rating in a report on Friday, June 19th. Finally, DA Davidson reiterated a "buy" rating and issued a $91.00 price target on shares of Private Bancorp of America in a research report on Friday. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Private Bancorp of America presently has an average rating of "Moderate Buy" and an average target price of $89.00.

Private Bancorp of America Stock Performance

Shares of PBAM stock opened at $79.50 on Monday. The stock's 50-day moving average is $74.33 and its two-hundred day moving average is $68.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.00. Private Bancorp of America has a 1 year low of $54.45 and a 1 year high of $81.39. The firm has a market cap of $455.54 million, a price-to-earnings ratio of 10.32 and a beta of 0.07.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last announced its earnings results on Thursday, July 16th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.27. The firm had revenue of $44.38 million during the quarter, compared to analysts' expectations of $34.47 million. Private Bancorp of America had a return on equity of 16.85% and a net margin of 25.45%. Analysts predict that Private Bancorp of America will post 8.22 earnings per share for the current 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.

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