Private Bancorp of America (OTCMKTS:PBAM) Shares Down 0.5% - Here's Why

Key Points

• Private Bancorp of America (OTCMKTS:PBAM) shares fell 0.5% to $57.20, with trading volume increasing by 216% from the average.
• Analysts have a consensus rating of "Buy" for PBAM, with Piper Sandler raising the price target from $75.00 to $80.00.
• The company reported $1.77 earnings per share for the last quarter, missing expectations by $0.02, but exceeded revenue estimates with $31.84 million.

Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report) shares fell 0.5% during trading on Monday . The company traded as low as $57.02 and last traded at $57.20. 13,442 shares traded hands during trading, an increase of 216% from the average session volume of 4,253 shares. The stock had previously closed at $57.50.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PBAM. Piper Sandler lifted their price objective on shares of Private Bancorp of America from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Zacks Research raised shares of Private Bancorp of America to a "hold" rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Private Bancorp of America currently has a consensus rating of "Buy" and an average price target of $80.00.

Private Bancorp of America Stock Down 0.5%

The company has a market cap of $331.76 million, a price-to-earnings ratio of 8.15 and a beta of 0.30. The business has a 50-day simple moving average of $56.80 and a two-hundred day simple moving average of $55.61. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.04.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.77 earnings per share for the quarter, missing analysts' consensus estimates of $1.79 by ($0.02). Private Bancorp of America had a net margin of 24.17% and a return on equity of 17.81%. The company had revenue of $31.84 million during the quarter, compared to the consensus estimate of $30.36 million. As a group, equities analysts forecast that Private Bancorp of America, Inc. will post 6.88 earnings per share 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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