Short Interest in Private Bancorp of America, Inc. (OTCMKTS:PBAM) Expands By 79.8%

Private Bancorp of America, Inc. (OTCMKTS:PBAM) saw a large increase in short interest in April. As of April 30th, there was short interest totaling 2,779 shares, an increase of 79.8% from the April 15th total of 1,546 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 16,068 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

Several analysts have recently issued reports on PBAM shares. Zacks Research raised Private Bancorp of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Piper Sandler reiterated an “overweight” rating and issued a $88.00 price target (up from $77.00) on shares of Private Bancorp of America in a research note on Monday, April 20th. Brean Capital began coverage on Private Bancorp of America in a research note on Thursday, April 16th. They issued a “buy” rating and a $80.00 price target on the stock. Finally, DA Davidson lifted their price target on Private Bancorp of America from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, Private Bancorp of America presently has an average rating of “Buy” and an average price target of $86.33.

Private Bancorp of America Stock Performance

Shares of PBAM opened at $73.74 on Monday. Private Bancorp of America has a 52-week low of $53.25 and a 52-week high of $78.53. The business’s fifty day moving average is $70.28 and its 200-day moving average is $63.18. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $421.79 million, a price-to-earnings ratio of 10.24 and a beta of 0.08.

Private Bancorp of America (OTCMKTS:PBAM) 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. The company had revenue of $34.54 million for the quarter, compared to analyst estimates of $31.99 million. Private Bancorp of America had a return on equity of 16.38% and a net margin of 24.01%. Equities analysts anticipate that Private Bancorp of America will post 8.21 EPS for the current fiscal 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.