Private Bancorp of America (OTCMKTS:PBAM) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Private Bancorp of America (OTCMKTS:PBAM) posted its earnings results on Friday. The company reported $1.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.08), Zacks reports. The firm had revenue of $32.47 million during the quarter, compared to analyst estimates of $32.58 million. Private Bancorp of America had a net margin of 24.04% and a return on equity of 17.10%.

Private Bancorp of America Stock Performance

OTCMKTS PBAM opened at $58.25 on Friday. The stock has a market cap of $333.77 million, a P/E ratio of 8.41 and a beta of 0.10. The company’s 50-day simple moving average is $56.99 and its 200 day simple moving average is $57.42. Private Bancorp of America has a twelve month low of $50.60 and a twelve month high of $61.50. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.04.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PBAM. Piper Sandler reiterated an “overweight” rating and issued a $73.00 price objective (down from $77.00) on shares of Private Bancorp of America in a research note on Tuesday, October 21st. DA Davidson set a $75.00 target price on Private Bancorp of America in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $74.00.

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.