Private Bancorp of America (OTCMKTS:PBAM) Raised to "Hold" at Zacks Research

Key Points

• Private Bancorp of America has been upgraded to a "hold" rating by Zacks Research, indicating a more favorable outlook compared to previous ratings.
• Piper Sandler increased its target price for the stock from $75.00 to $80.00, while Stephens raised it to a "strong-buy" rating, reflecting growing investor confidence.
• The company's recent earnings report showed $1.77 earnings per share, slightly missing expectations, but it beat revenue estimates with $31.84 million for the quarter.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) was upgraded by Zacks Research to a "hold" rating in a research note issued to investors on Tuesday, August 12th,Zacks.com reports.

Several other research analysts also recently commented on the company. Stephens upgraded Private Bancorp of America to a "strong-buy" rating in a research note on Thursday, May 1st. Piper Sandler lifted their target price on Private Bancorp of America from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $80.00.

Private Bancorp of America Stock Down 0.6%

PBAM stock traded down $0.34 during mid-day trading on Tuesday, reaching $56.26. The company had a trading volume of 3,540 shares, compared to its average volume of 3,237. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50 day simple moving average of $56.30 and a two-hundred day simple moving average of $55.81. The company has a market capitalization of $326.48 million, a price-to-earnings ratio of 8.01 and a beta of 0.30. Private Bancorp of America has a 52 week low of $42.27 and a 52 week high of $61.50.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $31.84 million during the quarter, compared to the consensus estimate of $30.36 million. Private Bancorp of America had a net margin of 24.17% and a return on equity of 18.26%. As a group, equities analysts predict that Private Bancorp of America 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.