Private Bancorp of America (OTCMKTS:PBAM) Announces Earnings Results, Beats Expectations By $0.27 EPS

Private Bancorp of America (OTCMKTS:PBAM) announced its earnings results on Thursday. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.00 by $0.27, Zacks reports. Private Bancorp of America had a net margin of 24.01% and a return on equity of 16.12%.

Private Bancorp of America Stock Performance

OTCMKTS PBAM opened at $81.39 on Thursday. The company has a fifty day moving average price of $74.15 and a 200-day moving average price of $68.39. The firm has a market cap of $466.04 million, a price-to-earnings ratio of 11.30 and a beta of 0.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. Private Bancorp of America has a 1 year low of $54.45 and a 1 year high of $81.39.

Analysts Set New Price Targets

Several brokerages have issued reports on PBAM. DA Davidson lifted their price target on shares of Private Bancorp of America from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Zacks Research lowered shares of Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 19th. Piper Sandler reiterated an “overweight” rating and issued a $88.00 target price (up from $77.00) on shares of Private Bancorp of America in a research note on Monday, April 20th. Finally, Brean Capital initiated coverage on Private Bancorp of America in a report on Thursday, April 16th. They set a “buy” rating and a $80.00 price target for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Private Bancorp of America presently has an average rating of “Moderate Buy” and a consensus target price of $86.33.

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.