Short Interest in Private Bancorp of America, Inc. (OTCMKTS:PBAM) Declines By 91.1%

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 102 shares, a decrease of 91.1% from the June 15th total of 1,141 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average trading volume of 5,826 shares, the short-interest ratio is presently 0.0 days.

Private Bancorp of America Stock Down 0.0%

PBAM stock traded down $0.03 during trading on Friday, hitting $74.40. 8,151 shares of the company’s stock traded hands, compared to its average volume of 2,256. The firm has a market capitalization of $426.31 million, a P/E ratio of 10.33 and a beta of 0.07. Private Bancorp of America has a 1 year low of $54.45 and a 1 year 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. The business has a fifty day simple moving average of $74.02 and a two-hundred day simple moving average of $67.90.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PBAM shares. Brean Capital assumed coverage on Private Bancorp of America in a report on Thursday, April 16th. They issued a “buy” rating and a $80.00 price target for the company. Zacks Research downgraded Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a report on Friday, June 19th. DA Davidson lifted their target price on Private Bancorp of America from $80.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $88.00 target price (up from $77.00) on shares of Private Bancorp of America in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.33.

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.