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

Key Points

• Private Bancorp of America, Inc. experienced a dramatic increase in short interest, rising by 1,100.0% in August, with a total of 1,200 shares shorted as of August 31st.
• The company's stock price reached $58.50 on Thursday, while its market capitalization stands at $339.30 million, and it has a price-to-earnings ratio of 8.33.
• Analysts have a consensus rating of "Buy" for Private Bancorp of America, with a price target increase from $75.00 to $80.00.

Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 1,200 shares, a growth of 1,100.0% from the August 15th total of 100 shares. Approximately 0.0% of the company's shares are sold short. Based on an average daily volume of 12,200 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 12,200 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company's shares are sold short.

Private Bancorp of America Stock Performance

PBAM traded up $0.51 on Thursday, hitting $58.50. 1,663 shares of the company's stock were exchanged, compared to its average volume of 3,525. The firm has a market cap of $339.30 million, a PE ratio of 8.33 and a beta of 0.30. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.04. Private Bancorp of America has a twelve month low of $42.27 and a twelve month high of $61.50. The stock has a fifty day moving average of $57.26 and a two-hundred day moving average of $55.57.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.02). Private Bancorp of America had a return on equity of 17.81% and a net margin of 24.17%.The business had revenue of $31.84 million during the quarter, compared to analyst estimates of $30.36 million. On average, research analysts anticipate that Private Bancorp of America will post 6.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler increased their price target on Private Bancorp of America from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Zacks Research upgraded shares of Private Bancorp of America to a "hold" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Private Bancorp of America has a consensus rating of "Buy" and a consensus price target of $80.00.

Private Bancorp of America Company Profile

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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