Private Bancorp of America (OTCMKTS:PBAM) Reaches New 1-Year High – Still a Buy?

Private Bancorp of America, Inc. (OTCMKTS:PBAM) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $87.50 and last traded at $87.40, with a volume of 3310 shares changing hands. The stock had previously closed at $87.01.

Analyst Ratings Changes

Several research firms have weighed in on PBAM. Piper Sandler increased their target price on shares of Private Bancorp of America from $88.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Zacks Research lowered Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a report on Friday, June 19th. Finally, DA Davidson boosted their target price on Private Bancorp of America from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Private Bancorp of America has a consensus rating of “Moderate Buy” and an average target price of $90.67.

Private Bancorp of America Trading Up 0.4%

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 firm has a market capitalization of $500.17 million, a P/E ratio of 11.34 and a beta of 0.06. The business has a 50 day moving average of $78.84 and a 200-day moving average of $72.54.

Private Bancorp of America (OTCMKTS:PBAM) last announced its quarterly earnings results on Monday, July 20th. The company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.27. The firm had revenue of $44.38 million for the quarter, compared to analyst estimates of $34.47 million. Private Bancorp of America had a net margin of 25.45% and a return on equity of 16.85%. Analysts anticipate that Private Bancorp of America, Inc. will post 8.52 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.