Private Bancorp of America (OTCMKTS:PBAM) Releases Earnings Results, Beats Expectations By $0.32 EPS

Private Bancorp of America (OTCMKTS:PBAM) announced its quarterly earnings results on Monday. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.32, Zacks reports. The company had revenue of $34.54 million during the quarter, compared to analysts’ expectations of $31.99 million. Private Bancorp of America had a return on equity of 16.14% and a net margin of 23.51%.

Private Bancorp of America Stock Up 5.1%

Shares of OTCMKTS PBAM opened at $72.00 on Friday. The business has a 50-day moving average price of $67.22 and a 200 day moving average price of $61.10. The stock has a market cap of $411.84 million, a PE ratio of 10.00 and a beta of 0.02. Private Bancorp of America has a 52-week low of $51.55 and a 52-week high of $72.00. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.04.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Brean Capital assumed coverage on Private Bancorp of America in a research report on Thursday. They set a “buy” rating and a $80.00 price objective on the stock. Piper Sandler cut their target price on Private Bancorp of America from $78.00 to $77.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $77.33.

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.