Private Bancorp of America (OTCMKTS:PBAM) Shares Down 0.1% – Here’s Why

Private Bancorp of America, Inc. (OTCMKTS:PBAM) dropped 0.1% during mid-day trading on Wednesday . The company traded as low as $65.19 and last traded at $67.80. Approximately 1,300 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 3,237 shares. The stock had previously closed at $67.89.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their target price on Private Bancorp of America from $78.00 to $77.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $76.00.

Private Bancorp of America Stock Down 0.1%

The company has a market cap of $388.49 million, a PE ratio of 9.78 and a beta of 0.07. The business’s fifty day simple moving average is $61.36 and its two-hundred day simple moving average is $58.85. 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 posted its quarterly earnings data on Friday, January 16th. The company reported $1.71 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.08). Private Bancorp of America had a net margin of 23.51% and a return on equity of 16.42%. The firm had revenue of $32.47 million during the quarter, compared to analyst estimates of $32.58 million. On average, analysts predict that Private Bancorp of America, Inc. will post 6.88 earnings per share for the current year.

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.