Short Interest in Private Bancorp of America, Inc. (OTCMKTS:PBAM) Declines By 90.9%

Key Points

• Private Bancorp of America saw a dramatic 90.9% decrease in short interest in July, with only 100 shares sold short as of July 31st.
• Research firms have increased their outlook on the stock, with Stephens issuing a "strong-buy" rating and Piper Sandler raising the price target from $75 to $80.
• The company's stock recently traded at $57.00 and has a market capitalization of approximately $330.83 million, with a P/E ratio of 8.12.

Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 100 shares, adeclineof90.9% from the July 15th total of 1,100 shares. Based on an average daily volume of 6,800 shares, the days-to-cover ratio is currently 0.0 days. Currently,0.0% of the company's shares are short sold. Currently,0.0% of the company's shares are short sold. Based on an average daily volume of 6,800 shares, the days-to-cover ratio is currently 0.0 days.

Private Bancorp of America Stock Performance

Private Bancorp of America stock traded down $1.03 during trading on Tuesday, reaching $56.26. The company had a trading volume of 7,942 shares, compared to its average volume of 2,848. The firm has a market capitalization of $326.31 million, a price-to-earnings ratio of 8.01 and a beta of 0.30. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.07. The firm's 50-day simple moving average is $56.30 and its 200 day simple moving average is $55.81. Private Bancorp of America has a 52 week low of $42.16 and a 52 week high of $61.50.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last released its 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 18.26% and a net margin of 24.17%.The firm had revenue of $31.84 million during the quarter, compared to analysts' expectations of $30.36 million. Sell-side analysts forecast that Private Bancorp of America will post 6.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PBAM has been the subject of a number of recent analyst reports. Stephens upgraded shares of Private Bancorp of America to a "strong-buy" rating in a report on Thursday, May 1st. Zacks Research raised shares of Private Bancorp of America to a "hold" rating in a research report on Tuesday, August 12th. Finally, Piper Sandler lifted their target price on shares of Private Bancorp of America from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $80.00.

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.