Private Bancorp of America's (PBAM) Buy Rating Reaffirmed at DA Davidson

Key Points

• DA Davidson reaffirmed its Buy rating on Private Bancorp of America (PBAM) and maintained a $91 price target, implying about 14.5% upside from the current share price.
• PBAM also has mixed analyst coverage overall, with three Buy ratings and one Hold; the consensus target is $86.33, which still suggests modest upside.
• The company recently reported better-than-expected quarterly results, posting $2.27 EPS versus the $2.00 estimate and revenue of $44.38 million versus the expected $34.47 million.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report)'s stock had its "buy" rating restated by stock analysts at DA Davidson in a research note issued on Friday,Benzinga reports. They presently have a $91.00 price objective on the stock. DA Davidson's price target would suggest a potential upside of 14.47% from the stock's current price.

PBAM has been the topic of a number of other research reports. Brean Capital began coverage on Private Bancorp of America in a research note on Thursday, April 16th. They issued a "buy" rating and a $80.00 target price on the stock. Zacks Research cut Private Bancorp of America from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 19th. Finally, 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 report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $86.33.

Private Bancorp of America Stock Down 0.3%

PBAM stock traded down $0.24 during midday trading on Friday, reaching $79.50. The company had a trading volume of 6,794 shares, compared to its average volume of 5,577. Private Bancorp of America has a 1 year low of $54.45 and a 1 year high of $81.39. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $455.54 million, a P/E ratio of 11.04 and a beta of 0.07. The company has a 50 day moving average of $74.24 and a two-hundred day moving average of $68.55.

Private Bancorp of America (OTCMKTS:PBAM - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.00 by $0.27. Private Bancorp of America had a net margin of 24.01% and a return on equity of 16.12%. The business had revenue of $44.38 million for the quarter, compared to analysts' expectations of $34.47 million. On average, equities research analysts expect that Private Bancorp of America will post 8.22 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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