Private Bancorp of America (OTCMKTS:PBAM) Reaches New 52-Week High - Here's What Happened

Key Points

• Private Bancorp of America shares reached a new 52-week high, trading as high as $87.50 on volume of 3,310 shares.
• Analyst sentiment remains favorable overall: DA Davidson and Piper Sandler raised their price targets to $96, while Zacks Research downgraded the stock to “hold.” The consensus rating is “Moderate Buy,” with a $90.67 price target.
• The company exceeded quarterly expectations, reporting $2.27 in EPS versus the $2.00 estimate and $44.38 million in revenue versus the $34.47 million consensus.

Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $87.50 and last traded at $87.40, with a volume of 3310 shares changing hands. The stock had previously closed at $87.01.

Analyst Ratings Changes

Several analysts have weighed in on the company. DA Davidson boosted their price objective on Private Bancorp of America from $91.00 to $96.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Piper Sandler raised their target price on shares of Private Bancorp of America from $88.00 to $96.00 and gave the company an "overweight" rating in a research note on Monday, July 20th. Finally, Zacks Research cut shares of Private Bancorp of America from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 19th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Private Bancorp of America currently has an average rating of "Moderate Buy" and a consensus price target of $90.67.

Private Bancorp of America Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50-day moving average price of $78.84 and a 200-day moving average price of $72.54. The firm has a market capitalization of $500.17 million, a P/E ratio of 11.34 and a beta of 0.06.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last released its quarterly earnings data on Monday, July 20th. The company reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $2.00 by $0.27. Private Bancorp of America had a return on equity of 16.85% and a net margin of 25.45%.The business had revenue of $44.38 million during the quarter, compared to the consensus estimate of $34.47 million. On average, sell-side analysts predict that Private Bancorp of America, Inc. will post 8.52 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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