Short Interest in Private Bancorp of America, Inc. (OTCMKTS:PBAM) Increases By 897.1%

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 1,017 shares, a growth of 897.1% from the June 30th total of 102 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 8,844 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analyst Weigh In

PBAM has been the topic of a number of research reports. Piper Sandler upped their price target on Private Bancorp of America from $88.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. DA Davidson lifted their price objective on Private Bancorp of America from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Brean Capital assumed coverage on Private Bancorp of America in a research report on Thursday, April 16th. They set a “buy” rating and a $80.00 target price on the stock. Finally, Zacks Research lowered Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a report on Friday, June 19th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Private Bancorp of America presently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

Private Bancorp of America Price Performance

Shares of OTCMKTS:PBAM opened at $81.24 on Monday. The company has a market cap of $465.51 million, a P/E ratio of 10.55 and a beta of 0.07. The business has a fifty day simple moving average of $74.99 and a 200-day simple moving average of $69.54. Private Bancorp of America has a 52 week low of $54.45 and a 52 week high of $81.50. 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 (OTCMKTS:PBAM) last released its quarterly earnings data on Monday, July 20th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.27. The business had revenue of $44.38 million during the quarter, compared to the consensus estimate of $34.47 million. Private Bancorp of America had a return on equity of 16.85% and a net margin of 25.45%. Equities research analysts forecast that Private Bancorp of America will post 8.52 EPS for the current 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.