Private Bancorp of America, Inc. (OTCMKTS:PBAM) Sees Large Decrease in Short Interest

Key Points

• Short interest plunged 42.8% to 1,546 shares as of April 15, leaving only ~0.0% of the float sold short and a short-interest ratio of just 0.2 days based on average daily volume.
• Analysts have grown more bullish—Zacks moved PBAM to a "strong-buy", Piper Sandler and DA Davidson raised price targets (to $88 and $91 respectively), and the consensus rating is "Buy" with a target of $86.33.
• Private Bancorp beat expectations for the quarter with $2.07 EPS vs $1.75 est and $34.54M revenue vs $31.99M est, and the stock trades at a P/E of 10.32 with a $425M market cap.

Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 1,546 shares, a drop of 42.8% from the March 31st total of 2,705 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily trading volume, of 7,268 shares, the short-interest ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PBAM shares. Zacks Research raised shares of Private Bancorp of America from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 21st. Piper Sandler reaffirmed an "overweight" rating and issued a $88.00 price target (up from $77.00) on shares of Private Bancorp of America in a research report on Monday, April 20th. Brean Capital started coverage on shares of Private Bancorp of America in a research report on Thursday, April 16th. They issued a "buy" rating and a $80.00 price target on the stock. Finally, DA Davidson raised their price target on shares of Private Bancorp of America from $80.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $86.33.

Private Bancorp of America Price Performance

Private Bancorp of America stock opened at $74.30 on Monday. Private Bancorp of America has a 52 week low of $53.05 and a 52 week high of $74.50. The company's 50 day moving average price is $68.10 and its two-hundred day moving average price is $61.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.04. The stock has a market cap of $425.00 million, a P/E ratio of 10.32 and a beta of 0.02.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last posted its earnings results on Friday, April 17th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.75 by $0.32. Private Bancorp of America had a net margin of 24.01% and a return on equity of 16.38%. The firm had revenue of $34.54 million for the quarter, compared to analysts' expectations of $31.99 million. On average, equities analysts predict that Private Bancorp of America will post 8.21 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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