Private Bancorp of America (OTCMKTS:PBAM) Sees Large Volume Increase - What's Next?

Key Points

• Trading activity increased: Approximately 16,614 PBAM shares changed hands, up 3% from the prior session, while the stock rose to $91.55 from a $90.85 close.
• Analyst sentiment remains positive: Piper Sandler raised its price target to $96, DA Davidson set a $105 target, and the stock carries a “Moderate Buy” consensus rating with an average target of $93.67. Zacks Research, however, downgraded the shares to “Hold.”
• Quarterly results exceeded expectations: Private Bancorp of America reported $2.27 in earnings per share versus the $2.00 consensus and revenue of $44.38 million versus estimates of $34.47 million, with a 25.45% net margin and 16.85% return on equity.

Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report) shares saw an uptick in trading volume on Monday . Approximately 16,614 shares changed hands during trading, an increase of 3% from the previous session's volume of 16,137 shares.The stock last traded at $91.55 and had previously closed at $90.85.

Analyst Ratings Changes

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

Private Bancorp of America Stock Performance

The firm's 50 day simple moving average is $84.19 and its 200 day simple moving average is $75.88. The firm has a market capitalization of $524.29 million, a price-to-earnings ratio of 11.88 and a beta of 0.07. 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 (OTCMKTS:PBAM - Get Free Report) last released its quarterly earnings data on Monday, July 20th. The company reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.27. The firm had revenue of $44.38 million for the quarter, compared to analyst estimates of $34.47 million. Private Bancorp of America had a net margin of 25.45% and a return on equity of 16.85%. Sell-side analysts forecast that Private Bancorp of America, Inc. will post 8.52 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.