Private Bancorp of America (OTCMKTS:PBAM) Sets New 52-Week High - Should You Buy?

Key Points

• Private Bancorp of America shares reached a new 52-week high of $88.20, with the stock recently trading near $88.15 and up from its prior close of $87.71.
• Analysts maintain a generally positive outlook: three rate the stock Buy and one rates it Hold, resulting in a consensus “Moderate Buy” rating and an average price target of $93.67.
• The bank exceeded quarterly expectations, reporting $2.27 EPS versus a $2.00 estimate and revenue of $44.38 million versus $34.47 million expected; it also posted a 16.85% return on equity and 25.45% net margin.

Shares of Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $88.20 and last traded at $88.15, with a volume of 6844 shares trading hands. The stock had previously closed at $87.71.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. DA Davidson set a $105.00 price objective on shares of Private Bancorp of America in a research note on Monday. Zacks Research cut shares of Private Bancorp of America from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 19th. Finally, Piper Sandler upped their target price on shares of Private Bancorp of America from $88.00 to $96.00 and gave the stock an "overweight" rating in a report on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $93.67.

Private Bancorp of America Price Performance

The firm's 50-day moving average price is $79.84 and its 200-day moving average price is $73.27. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $507.67 million, a PE ratio of 11.51 and a beta of 0.06.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $44.38 million for the quarter, compared to analysts' expectations of $34.47 million. On average, equities analysts forecast that Private Bancorp of America, Inc. will post 8.52 EPS for the current fiscal 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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