Private Bancorp of America (OTCMKTS:PBAM) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Trading volume surged 330% to approximately 42,277 shares, while Private Bancorp of America’s stock rose 0.7% to $90.56.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $93.67; targets include $96 from Piper Sandler and $105 from DA Davidson.
• The company exceeded quarterly expectations, reporting $2.27 EPS versus a $2.00 estimate and revenue of $44.38 million versus the $34.47 million consensus.

Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 42,277 shares were traded during mid-day trading, an increase of 330% from the previous session's volume of 9,842 shares.The stock last traded at $90.56 and had previously closed at $90.10.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PBAM. Piper Sandler boosted 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. Zacks Research lowered shares of Private Bancorp of America from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 19th. Finally, DA Davidson set a $105.00 target price on shares of Private Bancorp of America in a research note on Monday, August 24th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Private Bancorp of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.67.

Private Bancorp of America Trading Up 0.7%

The company has a 50 day simple moving average of $82.88 and a two-hundred day simple moving average of $75.18. 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 cap of $519.35 million, a PE ratio of 11.78 and a beta of 0.07.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last announced its quarterly earnings data on Monday, July 20th. The company reported $2.27 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $34.47 million. Analysts expect 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 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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