Private Bancorp of America (OTCMKTS:PBAM) Announces Quarterly Earnings Results, Beats Estimates By $0.27 EPS

Key Points

• Private Bancorp of America reported quarterly earnings of $2.27 per share, beating Wall Street’s consensus estimate of $2.00 by $0.27.
• The company showed solid profitability metrics, with a 24.01% net margin and 16.12% return on equity.
• Analyst sentiment remains fairly positive overall, with an average rating of “Moderate Buy” and an average price target of $86.33, though one firm recently downgraded the stock to Hold.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $2.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.00 by $0.27, Zacks reports. Private Bancorp of America had a net margin of 24.01% and a return on equity of 16.12%.

Private Bancorp of America Price Performance

Private Bancorp of America stock opened at $80.00 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $458.08 million, a PE ratio of 11.11 and a beta of 0.07. The business has a 50 day simple moving average of $74.15 and a 200-day simple moving average of $68.39. Private Bancorp of America has a 12 month low of $54.45 and a 12 month high of $80.00.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. DA Davidson raised their target price on shares of Private Bancorp of America from $80.00 to $91.00 and gave the stock a "buy" rating in a report on Monday, April 20th. Brean Capital assumed coverage on Private Bancorp of America in a research report on Thursday, April 16th. They set a "buy" rating and a $80.00 price target on the stock. Zacks Research lowered Private Bancorp of America from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 19th. Finally, Piper Sandler reissued an "overweight" rating and issued a $88.00 price objective (up from $77.00) on shares of Private Bancorp of America in a report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Private Bancorp of America presently has an average rating of "Moderate Buy" and an average price target of $86.33.

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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