Private Bancorp of America (OTCMKTS:PBAM) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Private Bancorp of America (PBAM) from "hold" to "strong‑buy," and several other brokers have raised ratings/targets (Piper Sandler $88, DA Davidson $91, Brean Capital $80), leaving a consensus "Buy" rating with a $86.33 price target.
• PBAM beat quarterly expectations with $2.07 EPS versus $1.75 expected and $34.54M revenue versus $31.99M, showing a 24.01% net margin and 16.38% ROE; the stock trades near its 52‑week high, with a $420.4M market cap and a P/E of 10.21.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on PBAM. Piper Sandler restated an "overweight" rating and issued a $88.00 price objective (up from $77.00) on shares of Private Bancorp of America in a research note on Monday. DA Davidson increased their price objective on shares of Private Bancorp of America from $80.00 to $91.00 and gave the company a "buy" rating in a research note on Monday. Finally, Brean Capital started coverage on shares of Private Bancorp of America in a report on Thursday, April 16th. They issued a "buy" rating and a $80.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $86.33.

Private Bancorp of America Trading Down 0.0%

Shares of PBAM stock opened at $73.49 on Tuesday. Private Bancorp of America has a 52-week low of $51.62 and a 52-week high of $74.25. The stock has a market cap of $420.36 million, a price-to-earnings ratio of 10.21 and a beta of 0.02. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a fifty day moving average of $67.75 and a 200-day moving average of $61.40.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.32. Private Bancorp of America had a net margin of 24.01% and a return on equity of 16.38%. The company had revenue of $34.54 million during the quarter, compared to analysts' expectations of $31.99 million. On average, equities research analysts forecast that Private Bancorp of America will post 8.21 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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