Private Bancorp of America, Inc. (OTCMKTS:PBAM) Sees Significant Growth in Short Interest

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 1,141 shares, an increase of 275.3% from the May 31st total of 304 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 5,485 shares, the short-interest ratio is currently 0.2 days.

Private Bancorp of America Price Performance

Shares of Private Bancorp of America stock traded down $1.15 during midday trading on Friday, hitting $74.80. 12,551 shares of the company were exchanged, compared to its average volume of 2,422. The firm has a 50 day simple moving average of $73.83 and a 200-day simple moving average of $66.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $427.41 million, a P/E ratio of 10.39 and a beta of 0.07. Private Bancorp of America has a 52 week low of $53.71 and a 52 week high of $78.53.

Private Bancorp of America (OTCMKTS:PBAM) last released its quarterly earnings data on Friday, April 17th. The company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.32. Private Bancorp of America had a return on equity of 16.12% and a net margin of 24.01%.The firm had revenue of $34.54 million during the quarter, compared to analyst estimates of $31.99 million. Research analysts forecast that Private Bancorp of America will post 8.22 earnings per share for the current year.

Analyst Ratings Changes

PBAM has been the topic of a number of recent research reports. Brean Capital initiated coverage on Private Bancorp of America in a research report on Thursday, April 16th. They set a “buy” rating and a $80.00 target price on the stock. Zacks Research cut Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 19th. DA Davidson boosted 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 report on Monday, April 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $88.00 price objective (up from $77.00) on shares of Private Bancorp of America in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Private Bancorp of America 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.