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

Key Points

• Trading volume rose 47% to approximately 33,420 shares, while Private Bancorp of America shares traded at $89.70, up from the prior close of $89.08.
• Analyst sentiment remains favorable, with three Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $93.67. Piper Sandler raised its target to $96, while DA Davidson set a $105 target.
• The bank exceeded quarterly expectations, reporting $2.27 in EPS versus the $2.00 consensus estimate and revenue of $44.38 million versus $34.47 million expected. Its return on equity was 16.85%, with a net margin of 25.45%.

Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report) shares saw an uptick in trading volume on Monday . Approximately 33,420 shares were traded during mid-day trading, an increase of 47% from the previous session's volume of 22,682 shares.The stock last traded at $89.70 and had previously closed at $89.08.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. 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. DA Davidson set a $105.00 price objective on shares of Private Bancorp of America in a report on Monday, August 24th. Finally, Piper Sandler lifted 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. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $93.67.

Private Bancorp of America Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $512.84 million, a P/E ratio of 11.62 and a beta of 0.07. The business has a fifty day moving average of $85.77 and a 200-day moving average of $76.72.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last announced its earnings results on Monday, July 20th. The company reported $2.27 earnings per share 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, sell-side analysts forecast that Private Bancorp of America, Inc. will post 8.52 EPS for the current fiscal year.

About Private Bancorp of America

Private Bancorp of America, Inc is a bank holding company headquartered in California. Through its banking operations, the company provides financial services to businesses, professionals, nonprofit organizations and individuals, with a focus on relationship-based community banking.

Its product offerings include commercial and industrial loans, commercial real estate financing, construction loans, lines of credit, residential real estate lending and a range of deposit accounts. The company also provides cash-management and other business banking services designed to support operating and treasury needs.

Private Bancorp of America has historically served clients in Southern California, particularly in the San Diego and Orange County markets.

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