Private Bancorp of America (OTCMKTS:PBAM) Announces Quarterly Earnings Results

Private Bancorp of America (OTCMKTS:PBAM) posted its quarterly earnings results on Thursday. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.27, Zacks reports. Private Bancorp of America had a return on equity of 16.85% and a net margin of 25.45%.The business had revenue of $44.38 million during the quarter, compared to the consensus estimate of $34.47 million.

Private Bancorp of America Stock Performance

PBAM opened at $79.50 on Friday. The stock’s 50 day moving average price is $74.33 and its two-hundred day moving average price is $68.63. The firm has a market capitalization of $455.54 million, a P/E ratio of 10.32 and a beta of 0.07. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.03. Private Bancorp of America has a 12-month low of $54.45 and a 12-month high of $81.39.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Zacks Research lowered Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a report on Friday, June 19th. Brean Capital assumed coverage on Private Bancorp of America in a report on Thursday, April 16th. They set a “buy” rating and a $80.00 target price on the stock. Piper Sandler reiterated an “overweight” rating and set a $88.00 price objective (up from $77.00) on shares of Private Bancorp of America in a research report on Monday, April 20th. Finally, DA Davidson reissued a “buy” rating and issued a $91.00 target price on shares of Private Bancorp of America in a research report on Friday. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.33.

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.