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) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 1,100 shares, agrowthof57.1% from the June 30th total of 700 shares. Based on an average daily volume of 6,500 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 6,500 shares, the days-to-cover ratio is presently 0.2 days.

Private Bancorp of America Price Performance

Shares of OTCMKTS PBAM traded up $0.19 during trading on Monday, reaching $57.45. The company had a trading volume of 3,748 shares, compared to its average volume of 2,809. Private Bancorp of America has a 52 week low of $42.01 and a 52 week high of $61.50. The stock has a market cap of $333.78 million, a PE ratio of 8.18 and a beta of 0.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.02 and a current ratio of 1.02. The business's 50 day moving average price is $56.01 and its 200-day moving average price is $55.93.

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 business had revenue of $31.84 million for the quarter, compared to the consensus estimate of $30.36 million. Private Bancorp of America had a return on equity of 18.26% and a net margin of 24.17%. Analysts expect that Private Bancorp of America will post 6.88 earnings per share for the current year.

Analysts Set New Price Targets

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

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.