Private Bancorp of America (OTCMKTS:PBAM) Sees Large Volume Increase - Here's Why

Key Points

• Analyst sentiment remains positive: Three analysts rate Private Bancorp of America a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and a $93.67 price target. Recent targets range from $96 to $105.
• Quarterly results exceeded expectations: The bank reported $2.27 in EPS versus the $2.00 estimate and revenue of $44.38 million, well above the $34.47 million forecast.
• Shares are trading above their moving averages: PBAM last traded at $88.26, compared with 50-day and 200-day averages of $81.19 and $74.15, respectively; mid-day volume was approximately 5,722 shares.

Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report) saw an uptick in trading volume on Monday . Approximately 5,722 shares changed hands during mid-day trading, a decline of 29% from the previous session's volume of 8,061 shares.The stock last traded at $88.26 and had previously closed at $88.70.

Analysts Set New Price Targets

A number of research firms have issued reports on PBAM. DA Davidson set a $105.00 target price on Private Bancorp of America in a research report on Monday, August 24th. Zacks Research cut Private Bancorp of America from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 19th. Finally, Piper Sandler increased their price target on Private Bancorp of America from $88.00 to $96.00 and gave the stock an "overweight" rating in a research note on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.67.

Private Bancorp of America Stock Performance

The company's fifty day moving average is $81.19 and its 200 day moving average is $74.15. The company has a market capitalization of $507.04 million, a P/E ratio of 11.50 and a beta of 0.06. 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 (OTCMKTS:PBAM - Get Free Report) last issued its earnings results on Monday, July 20th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.27. The business had revenue of $44.38 million for the quarter, compared to analysts' expectations 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, equities analysts anticipate that Private Bancorp of America, Inc. will post 8.52 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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