Short Interest in Private Bancorp of America, Inc. (OTCMKTS:PBAM) Rises By 57.1%

Key Points

• Short interest in Private Bancorp of America increased by 57.1% in July, totaling 1,100 shares, compared to 700 shares in June.
• The company reported earnings of $1.77 per share for the last quarter, missing the estimated $1.79 by $0.02, but exceeded revenue expectations with $31.84 million in revenue.
• Piper Sandler raised their target price for the stock from $75.00 to $80.00 and assigned an "overweight" rating, while Stephens upgraded the stock to a "strong-buy" rating.

Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 1,100 shares, anincreaseof57.1% from the June 30th total of 700 shares. Based on an average trading volume of 6,500 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 6,500 shares, the days-to-cover ratio is presently 0.2 days.

Private Bancorp of America Price Performance

PBAM opened at $57.26 on Thursday. The stock has a fifty day moving average of $55.92 and a 200-day moving average of $56.00. The firm has a market capitalization of $332.68 million, a P/E ratio of 8.16 and a beta of 0.30. Private Bancorp of America has a 12-month low of $41.99 and a 12-month high of $61.50. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.07.

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

Analysts Set New Price Targets

PBAM has been the topic of several analyst reports. Piper Sandler raised their target price on Private Bancorp of America from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Stephens upgraded Private Bancorp of America to a "strong-buy" rating in a research report on Thursday, May 1st.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.