Private Bancorp of America (OTCMKTS:PBAM) Trading Up 1.8% – Still a Buy?

Shares of Private Bancorp of America, Inc. (OTCMKTS:PBAM) were up 1.8% on Wednesday . The stock traded as high as $57.44 and last traded at $57.20. Approximately 5,715 shares were traded during trading, a decline of 6% from the average daily volume of 6,089 shares. The stock had previously closed at $56.17.

Wall Street Analysts Forecast Growth

PBAM has been the topic of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price target (down previously from $77.00) on shares of Private Bancorp of America in a research report on Tuesday, October 21st. Zacks Research upgraded Private Bancorp of America to a “hold” rating in a research note on Tuesday, August 12th. Finally, DA Davidson set a $75.00 target price on Private Bancorp of America in a research report on Tuesday, October 21st. One investment 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 company. Based on data from MarketBeat.com, Private Bancorp of America has a consensus rating of “Buy” and an average price target of $74.00.

Private Bancorp of America Price Performance

The firm has a market capitalization of $329.47 million, a price-to-earnings ratio of 8.13 and a beta of 0.31. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $57.65 and a two-hundred day moving average price of $56.75.

Private Bancorp of America (OTCMKTS:PBAM) last issued its earnings results on Friday, October 17th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.16). The company had revenue of $31.50 million during 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, research analysts forecast that Private Bancorp of America, Inc. will post 6.88 EPS for the current year.

Private Bancorp of America declared that its Board of Directors has initiated a share buyback program on Thursday, September 11th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the company to buy up to 1.5% of its stock through open market purchases. Stock buyback programs are often a sign 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.