Private Bancorp of America, Inc. (OTCMKTS:PBAM) Short Interest Down 53.4% in December

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totaling 252 shares, a drop of 53.4% from the November 30th total of 541 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 5,561 shares, the short-interest ratio is presently 0.0 days. Based on an average trading volume of 5,561 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are short sold.

Analyst Ratings Changes

Several research firms have recently commented on PBAM. Piper Sandler reiterated an “overweight” rating and set a $73.00 target price (down previously from $77.00) on shares of Private Bancorp of America in a research note on Tuesday, October 21st. DA Davidson set a $75.00 price objective on Private Bancorp of America in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $74.00.

Private Bancorp of America Price Performance

OTCMKTS PBAM opened at $57.25 on Monday. 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 has a 1-year low of $50.60 and a 1-year high of $61.50. The company has a 50 day moving average of $56.81 and a 200-day moving average of $57.10. The company has a market cap of $328.04 million, a price-to-earnings ratio of 8.13 and a beta of 0.10.

Private Bancorp of America (OTCMKTS:PBAM) last issued its quarterly earnings results on Friday, October 17th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.16). Private Bancorp of America had a return on equity of 17.10% and a net margin of 24.04%.The company had revenue of $31.50 million for the quarter, compared to analyst estimates of $31.79 million. On average, equities research analysts expect that Private Bancorp of America will post 6.88 earnings per share for the current fiscal year.

Private Bancorp of America announced that its board has initiated a stock repurchase program on Thursday, September 11th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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.