Private Bancorp of America, Inc. (OTCMKTS:PBAM) Short Interest Up 79.8% in April

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 2,779 shares, a growth of 79.8% from the April 15th total of 1,546 shares. Based on an average trading volume of 16,068 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Brean Capital assumed 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. DA Davidson lifted their price target on Private Bancorp of America from $80.00 to $91.00 and gave the company a “buy” rating in a report on Monday, April 20th. Piper Sandler reaffirmed an “overweight” rating and set a $88.00 price target (up from $77.00) on shares of Private Bancorp of America in a report on Monday, April 20th. Finally, Zacks Research raised Private Bancorp of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $86.33.

Private Bancorp of America Stock Performance

PBAM opened at $73.50 on Tuesday. The business’s 50 day moving average is $70.40 and its 200-day moving average is $63.29. The stock has a market cap of $420.42 million, a PE ratio of 10.21 and a beta of 0.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.04. Private Bancorp of America has a twelve month low of $53.25 and a twelve month high of $78.53.

Private Bancorp of America (OTCMKTS:PBAM) last released its quarterly earnings results on Friday, April 17th. The company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.32. The company had revenue of $34.54 million for the quarter, compared to analysts’ expectations of $31.99 million. Private Bancorp of America had a return on equity of 16.38% and a net margin of 24.01%. On average, analysts predict that Private Bancorp of America will post 8.21 earnings per share for the current year.

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.