Short Interest in Private Bancorp of America, Inc. (OTCMKTS:PBAM) Rises By 716.6%

Private Bancorp of America, Inc. (OTCMKTS:PBAM) saw a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 2,662 shares, an increase of 716.6% from the January 15th total of 326 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 17,594 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 17,594 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the company’s stock are sold short.

Private Bancorp of America Stock Down 0.2%

Shares of PBAM traded down $0.14 during trading hours on Tuesday, reaching $64.61. 2,552 shares of the stock traded hands, compared to its average volume of 8,095. Private Bancorp of America has a 52 week low of $50.60 and a 52 week high of $65.69. The company has a market cap of $370.22 million, a price-to-earnings ratio of 9.32 and a beta of 0.10. The stock has a fifty day simple moving average of $58.51 and a 200 day simple moving average of $57.91. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.04.

Private Bancorp of America (OTCMKTS:PBAM) last posted its quarterly earnings data on Friday, January 16th. The company reported $1.71 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.08). Private Bancorp of America had a net margin of 23.51% and a return on equity of 16.42%. The firm had revenue of $32.47 million during the quarter, compared to analysts’ expectations of $32.58 million. On average, equities analysts forecast that Private Bancorp of America will post 6.88 EPS for the current year.

Wall Street Analyst Weigh In

PBAM has been the topic of a number of research reports. Piper Sandler dropped their price target on Private Bancorp of America from $78.00 to $77.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. DA Davidson set a $75.00 target price on Private Bancorp of America in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $76.00.

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.