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

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the recipient of a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 2,662 shares, an increase of 716.6% from the January 15th total of 326 shares. Based on an average trading volume of 17,594 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the company are sold short. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 17,594 shares, the days-to-cover ratio is presently 0.2 days.

Private Bancorp of America Price Performance

OTCMKTS:PBAM remained flat at $64.61 during trading hours on Thursday. 2,535 shares of the company were exchanged, compared to its average volume of 7,648. The stock has a market cap of $370.22 million, a P/E ratio of 9.32 and a beta of 0.10. Private Bancorp of America has a 1 year low of $50.60 and a 1 year high of $65.69. The stock has a 50 day moving average price of $58.66 and a 200-day moving average price of $57.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.01 and a quick ratio of 1.01.

Private Bancorp of America (OTCMKTS:PBAM) last released its quarterly earnings data on Friday, January 16th. The company reported $1.71 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.08). Private Bancorp of America had a return on equity of 16.42% and a net margin of 23.51%.The company had revenue of $32.47 million for the quarter, compared to the consensus estimate of $32.58 million. As a group, sell-side analysts anticipate that Private Bancorp of America will post 6.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. DA Davidson set a $75.00 price target on Private Bancorp of America in a research note on Tuesday, October 21st. Piper Sandler decreased their target price on shares of Private Bancorp of America from $78.00 to $77.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $76.00.

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.