Private Bancorp of America, Inc. (OTCMKTS:PBAM) Short Interest Down 91.1% in June

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 102 shares, a drop of 91.1% from the June 15th total of 1,141 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 5,826 shares, the short-interest ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Several research firms have recently commented on PBAM. DA Davidson upped their target price on Private Bancorp of America from $80.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Brean Capital began 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. Zacks Research downgraded Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $88.00 price objective (up from $77.00) on shares of Private Bancorp of America in a report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.33.

Private Bancorp of America Stock Performance

OTCMKTS:PBAM traded down $0.03 during mid-day trading on Friday, reaching $74.40. 8,151 shares of the company’s stock were exchanged, compared to its average volume of 2,605. Private Bancorp of America has a one year low of $54.45 and a one year high of $78.53. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.00. The business’s fifty day simple moving average is $74.02 and its two-hundred day simple moving average is $67.98. The firm has a market capitalization of $426.31 million, a PE ratio of 10.33 and a beta of 0.07.

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

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.