Private Bancorp of America, Inc. (OTCMKTS:PBAM) Short Interest Up 275.3% in June

Private Bancorp of America, Inc. (OTCMKTS:PBAM) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 1,141 shares, a growth of 275.3% from the May 31st total of 304 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 5,485 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PBAM. DA Davidson upped their price objective on shares of Private Bancorp of America from $80.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Zacks Research cut shares of Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 19th. Brean Capital initiated coverage on shares of Private Bancorp of America in a research report on Thursday, April 16th. They set a “buy” rating and a $80.00 price target on the stock. Finally, Piper Sandler reaffirmed 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. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Private Bancorp of America has a consensus rating of “Moderate Buy” and a consensus price target of $86.33.

Private Bancorp of America Price Performance

Shares of PBAM remained flat at $74.80 during trading hours on Monday. The stock had a trading volume of 12,551 shares, compared to its average volume of 2,794. The company has a market capitalization of $428.60 million, a P/E ratio of 10.39 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. The business’s 50 day moving average is $73.83 and its two-hundred day moving average is $66.76. Private Bancorp of America has a 1-year low of $53.71 and a 1-year high of $78.53.

Private Bancorp of America (OTCMKTS:PBAM) last announced its earnings results on Friday, April 17th. The company reported $2.07 earnings per share (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 company had revenue of $34.54 million for the quarter, compared to analyst estimates of $31.99 million. Sell-side analysts expect that Private Bancorp of America will post 8.22 EPS 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.