Private Bancorp of America (OTCMKTS:PBAM) Sees Large Volume Increase – Here’s What Happened

Private Bancorp of America, Inc. (OTCMKTS:PBAM) saw unusually-strong trading volume on Tuesday . 42,277 shares were traded during trading, an increase of 330% from the previous session’s volume of 9,842 shares.The stock last traded at $90.56 and had previously closed at $90.10.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PBAM shares. Zacks Research lowered shares of Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 19th. Piper Sandler raised their price target on Private Bancorp of America from $88.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Finally, DA Davidson set a $105.00 price target on Private Bancorp of America in a research note on Monday, August 24th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.67.

Private Bancorp of America Price Performance

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 firm’s 50-day moving average is $83.54 and its 200-day moving average is $75.53. The company has a market cap of $518.55 million, a PE ratio of 11.76 and a beta of 0.07.

Private Bancorp of America (OTCMKTS:PBAM) last issued its quarterly earnings results on Monday, July 20th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.27. Private Bancorp of America had a return on equity of 16.85% and a net margin of 25.45%.The company had revenue of $44.38 million for the quarter, compared to analysts’ expectations of $34.47 million. On average, equities analysts anticipate that Private Bancorp of America, Inc. will post 8.52 EPS for the current year.

Private Bancorp of America Company Profile

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.