Private Bancorp of America, Inc. (OTCMKTS:PBAM) Short Interest Update

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the target of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 304 shares, an increase of 30,300.0% from the May 14th total of 1 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 4,013 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PBAM. Zacks Research raised shares of Private Bancorp of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Piper Sandler reiterated an “overweight” rating and issued a $88.00 price target (up from $77.00) on shares of Private Bancorp of America in a research note on Monday, April 20th. Brean Capital initiated coverage on Private Bancorp of America in a report on Thursday, April 16th. They issued a “buy” rating and a $80.00 price objective for the company. Finally, DA Davidson upped their price objective on Private Bancorp of America from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, Private Bancorp of America has a consensus rating of “Buy” and a consensus target price of $86.33.

Private Bancorp of America Stock Performance

PBAM stock traded up $0.49 during midday trading on Tuesday, reaching $72.69. The company had a trading volume of 4,574 shares, compared to its average volume of 6,043. The firm has a market capitalization of $415.06 million, a PE ratio of 10.10 and a beta of 0.07. The stock has a 50 day moving average price of $72.02 and a 200 day moving average price of $64.98. Private Bancorp of America has a fifty-two week low of $53.25 and a fifty-two week high of $78.53. 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 (OTCMKTS:PBAM) last issued its quarterly earnings data on Friday, April 17th. The company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.32. Private Bancorp of America had a return on equity of 16.12% and a net margin of 24.01%.The firm had revenue of $34.54 million during the quarter, compared to the consensus estimate of $31.99 million. Analysts anticipate 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.