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

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

Private Bancorp of America Stock Performance

PBAM stock traded down $1.15 during mid-day trading on Friday, reaching $74.80. 12,551 shares of the stock traded hands, compared to its average volume of 2,422. 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 has a 52 week low of $53.71 and a 52 week high of $78.53. The business has a 50-day moving average of $73.83 and a two-hundred day moving average of $66.69. The firm has a market capitalization of $427.41 million, a PE ratio of 10.39 and a beta of 0.07.

Private Bancorp of America (OTCMKTS:PBAMGet Free Report) last issued its quarterly earnings results on Friday, April 17th. The company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $31.99 million. As a group, equities analysts predict that Private Bancorp of America will post 8.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PBAM shares. DA Davidson boosted their price target on Private Bancorp of America from $80.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Piper Sandler restated 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. Brean Capital started coverage on Private Bancorp of America in a report on Thursday, April 16th. They set a “buy” rating and a $80.00 price target on the stock. Finally, Zacks Research lowered shares of Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 19th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.33.

View Our Latest Stock Analysis on Private Bancorp of America

About Private Bancorp of America

(Get Free Report)

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.

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