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

Private Bancorp of America, Inc. (OTCMKTS:PBAM) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 102 shares, a drop of 91.1% from the June 15th total of 1,141 shares. Based on an average daily volume of 5,826 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

Analyst Ratings Changes

PBAM has been the subject of several recent analyst reports. Brean Capital started 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 for the company. DA Davidson lifted their price objective on shares of 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. Zacks Research downgraded shares of Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a report on Friday, June 19th. Finally, Piper Sandler restated an “overweight” rating and set a $88.00 target price (up from $77.00) on shares of Private Bancorp of America in a research report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $86.33.

Private Bancorp of America Price Performance

Shares of OTCMKTS:PBAM traded down $0.03 during mid-day trading on Friday, reaching $74.40. The stock had a trading volume of 8,151 shares, compared to its average volume of 5,540. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The company has a market cap 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 business’s 50 day moving average price is $74.04 and its 200 day moving average price is $67.86.

Private Bancorp of America (OTCMKTS:PBAM) last announced its quarterly earnings results on Friday, April 17th. The company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.32. The company had revenue of $34.54 million during the quarter, compared to analyst estimates of $31.99 million. Private Bancorp of America had a return on equity of 16.12% and a net margin of 24.01%. Research analysts expect that Private Bancorp of America will post 8.22 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.