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

Private Bancorp of America, Inc. (OTCMKTS:PBAM) shares hit a new 52-week high on Wednesday . The company traded as high as $89.20 and last traded at $88.96, with a volume of 22825 shares trading hands. The stock had previously closed at $88.50.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PBAM. Piper Sandler upped their price objective 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 set a $105.00 target price on Private Bancorp of America in a report on Monday, August 24th. Finally, Zacks Research downgraded Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 19th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.67.

Private Bancorp of America Price Performance

The company’s fifty day moving average is $82.25 and its 200 day moving average is $74.83. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.03. The stock has a market cap of $512.48 million, a PE ratio of 11.62 and a beta of 0.07.

Private Bancorp of America (OTCMKTS:PBAM) last released its quarterly earnings data on Monday, July 20th. The company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.27. Private Bancorp of America had a net margin of 25.45% and a return on equity of 16.85%. The company had revenue of $44.38 million during the quarter, compared to the consensus estimate of $34.47 million. As a group, sell-side analysts anticipate that Private Bancorp of America, Inc. will post 8.52 earnings per share 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.