Private Bancorp of America (OTCMKTS:PBAM) Upgraded 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 equities research analysts at Zacks Research to a "hold" rating in a research note issued to investors on Tuesday, August 12th,Zacks.com reports.

A number of other analysts also recently issued reports on PBAM. Stephens raised Private Bancorp of America to a "strong-buy" rating in a research report on Thursday, May 1st. Piper Sandler upped their target price on Private Bancorp of America from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. One equities 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $80.00.

Private Bancorp of America Stock Down 1.2%

Shares of PBAM traded down $0.69 during midday trading on Tuesday, hitting $56.60. The stock had a trading volume of 7,942 shares, compared to its average volume of 3,250. The company has a 50 day simple moving average of $56.27 and a two-hundred day simple moving average of $55.81. Private Bancorp of America has a twelve month low of $42.16 and a twelve month high of $61.50. The firm has a market cap of $328.28 million, a price-to-earnings ratio of 8.06 and a beta of 0.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.02 and a quick ratio of 1.02.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.02). Private Bancorp of America had a net margin of 24.17% and a return on equity of 18.26%. The firm had revenue of $31.84 million during the quarter, compared to analyst estimates of $30.36 million. On average, analysts anticipate that Private Bancorp of America will post 6.88 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.