Private Bancorp of America, Inc. (OTCMKTS:PBAM) Sees Significant Growth in Short Interest

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 1,017 shares, an increase of 897.1% from the June 30th total of 102 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 8,844 shares, the days-to-cover ratio is currently 0.1 days.

Private Bancorp of America Stock Up 0.9%

PBAM stock traded up $0.74 during trading on Friday, reaching $81.24. 511 shares of the stock were exchanged, compared to its average volume of 5,829. The firm’s 50 day moving average is $74.99 and its 200 day moving average is $69.45. The firm has a market cap of $465.51 million, a P/E ratio of 10.55 and a beta of 0.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. Private Bancorp of America has a twelve month low of $54.45 and a twelve month high of $81.50.

Private Bancorp of America (OTCMKTS:PBAM) last released its quarterly earnings data on Monday, July 20th. The company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.27. The firm had revenue of $44.38 million for the quarter, compared to analyst estimates of $34.47 million. Private Bancorp of America had a net margin of 25.45% and a return on equity of 16.85%. As a group, research analysts forecast that Private Bancorp of America will post 8.52 EPS for the current year.

Analyst Upgrades and Downgrades

PBAM has been the subject of a number of research reports. Piper Sandler raised their price objective on shares of Private Bancorp of America from $88.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, July 20th. DA Davidson lifted their target price on Private Bancorp of America from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Brean Capital assumed coverage on Private Bancorp of America in a research note on Thursday, April 16th. They issued a “buy” rating and a $80.00 price target for the company. Finally, Zacks Research downgraded Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 19th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.67.

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.