Private Bancorp of America (OTCMKTS:PBAM) Issues Earnings Results, Misses Expectations By $0.08 EPS

Private Bancorp of America (OTCMKTS:PBAM) announced its earnings results on Friday. The company reported $1.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.08), Zacks reports. The business had revenue of $32.47 million for the quarter, compared to analyst estimates of $32.58 million. Private Bancorp of America had a return on equity of 17.10% and a net margin of 24.04%.

Private Bancorp of America Stock Performance

Shares of PBAM stock opened at $58.25 on Friday. Private Bancorp of America has a one year low of $50.60 and a one year high of $61.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $333.77 million, a price-to-earnings ratio of 8.27 and a beta of 0.10. The company’s 50-day simple moving average is $56.99 and its 200-day simple moving average is $57.39.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. DA Davidson set a $75.00 price target on shares of Private Bancorp of America in a research note on Tuesday, October 21st. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price target (down from $77.00) on shares of Private Bancorp of America in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $74.00.

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.