Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) issued its quarterly earnings results on Friday. The company reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.81 by ($0.16), Zacks reports. Private Bancorp of America had a net margin of 24.17% and a return on equity of 17.81%.
Private Bancorp of America Price Performance
Shares of OTCMKTS PBAM opened at $58.30 on Friday. Private Bancorp of America has a twelve month low of $46.26 and a twelve month high of $61.50. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $58.18 and a two-hundred day moving average of $56.06. The company has a market capitalization of $338.14 million, a price-to-earnings ratio of 8.30 and a beta of 0.31.
Private Bancorp of America declared that its board has initiated a share repurchase program on Thursday, September 11th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.
Analyst Ratings Changes
A number of brokerages recently weighed in on PBAM. Zacks Research raised shares of Private Bancorp of America to a "hold" rating in a research report on Tuesday, August 12th. Piper Sandler upped their price target on shares of Private Bancorp of America from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $80.00.
Get Our Latest Analysis on Private Bancorp of America
About Private Bancorp of America
(
Get Free Report)
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.
Further Reading
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