Private Bancorp of America (OTCMKTS:PBAM) Reaches New 52-Week High - What's Next?

Key Points

• Private Bancorp of America shares reached a new 52-week high of $89.20, with the stock last trading at $88.96 and a market capitalization of approximately $513 million.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $93.67; individual targets range up to $105.
• The bank exceeded quarterly expectations, reporting $2.27 in earnings per share versus a $2.00 estimate and revenue of $44.38 million versus $34.47 million expected.

Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $89.20 and last traded at $88.96, with a volume of 22825 shares trading hands. The stock had previously closed at $88.50.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PBAM shares. DA Davidson set a $105.00 target price on shares of Private Bancorp of America in a report on Monday, August 24th. Piper Sandler increased their price objective on shares of Private Bancorp of America from $88.00 to $96.00 and gave the company an "overweight" rating in a research report on Monday, July 20th. Finally, 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. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.67.

Private Bancorp of America Stock Performance

The business has a 50 day moving average price of $81.71 and a 200 day moving average price of $74.48. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.03. The stock has a market cap of $513.05 million, a P/E ratio of 11.64 and a beta of 0.07.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last posted its quarterly earnings data on Monday, July 20th. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.00 by $0.27. The business had revenue of $44.38 million during the quarter, compared to the consensus estimate of $34.47 million. Private Bancorp of America had a net margin of 25.45% and a return on equity of 16.85%. As a group, sell-side analysts expect that Private Bancorp of America, Inc. will post 8.52 EPS 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.

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