Private Bancorp of America (OTCMKTS:PBAM) Stock Price Up 0.5% - Here's Why

Key Points

• Private Bancorp of America shares rose 0.5% to $87.01, with trading volume up 379% from the average session.
• Analyst sentiment remains positive overall: three analysts rate the stock a Buy and one rates it Hold, resulting in a consensus “Moderate Buy” rating and an average price target of $90.67.
• The bank beat quarterly expectations, reporting EPS of $2.27 versus the $2.00 estimate and revenue of $44.38 million compared with the $34.47 million consensus.

Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report)'s stock price rose 0.5% on Monday . The stock traded as high as $87.49 and last traded at $87.01. 32,827 shares changed hands during mid-day trading, an increase of 379% from the average session volume of 6,849 shares. The stock had previously closed at $86.60.

Analyst Ratings Changes

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

Private Bancorp of America Price Performance

The firm has a market cap of $498.22 million, a PE ratio of 11.30 and a beta of 0.06. 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 firm has a 50-day simple moving average of $78.84 and a 200 day simple moving average of $72.54.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last released its earnings results on Monday, July 20th. The company reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.27. Private Bancorp of America had a net margin of 25.45% and a return on equity of 16.85%. The firm had revenue of $44.38 million for the quarter, compared to the consensus estimate of $34.47 million. As a group, equities analysts expect that Private Bancorp of America, Inc. will post 8.52 EPS for the current year.

Private Bancorp of America Company Profile

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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