Private Bancorp of America (OTCMKTS:PBAM) Earns Overweight Rating from Piper Sandler

Private Bancorp of America (OTCMKTS:PBAM)‘s stock had its “overweight” rating reiterated by equities researchers at Piper Sandler in a report issued on Tuesday, Marketbeat Ratings reports. They currently have a $73.00 target price on the stock, down from their previous target price of $77.00. Piper Sandler’s price objective points to a potential upside of 31.77% from the company’s previous close.

Separately, Zacks Research upgraded shares of Private Bancorp of America to a “hold” rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Private Bancorp of America presently has an average rating of “Buy” and an average price target of $74.00.

Private Bancorp of America Trading Up 0.7%

OTCMKTS:PBAM opened at $55.40 on Tuesday. Private Bancorp of America has a 1 year low of $48.00 and a 1 year high of $61.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.00 and a current ratio of 1.01. The stock has a fifty day moving average price of $58.02 and a two-hundred day moving average price of $56.08. The stock has a market capitalization of $321.87 million, a price-to-earnings ratio of 7.87 and a beta of 0.31.

Private Bancorp of America (OTCMKTS:PBAM) last posted its quarterly earnings results on Friday, October 17th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.16). The company had revenue of $31.50 million for the quarter, compared to analyst estimates of $31.79 million. Private Bancorp of America had a return on equity of 17.52% and a net margin of 24.04%. As a group, sell-side analysts anticipate 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 approved a stock repurchase program on Thursday, September 11th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are 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.