Piper Sandler Issues Positive Forecast for Private Bancorp of America (OTCMKTS:PBAM) Stock Price

Private Bancorp of America (OTCMKTS:PBAM) had its price target boosted by Piper Sandler from $88.00 to $96.00 in a research note issued on Monday, Marketbeat Ratings reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 20.75% from the stock’s previous close.

A number of other research firms also recently commented on PBAM. Brean Capital started coverage on shares of Private Bancorp of America in a report on Thursday, April 16th. They set a “buy” rating and a $80.00 price objective on the stock. Zacks Research lowered Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 19th. Finally, DA Davidson restated a “buy” rating and issued a $91.00 price target on shares of Private Bancorp of America in a report on Friday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.00.

Private Bancorp of America Price Performance

Private Bancorp of America stock opened at $79.50 on Monday. The stock’s 50 day moving average price is $74.33 and its 200 day moving average price is $68.71. The company has a market cap of $455.54 million, a PE ratio of 10.32 and a beta of 0.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. Private Bancorp of America has a 1-year low of $54.45 and a 1-year high of $81.39.

Private Bancorp of America (OTCMKTS:PBAM) last released its earnings results on Thursday, July 16th. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.27. The company had revenue of $44.38 million during the quarter, compared to the consensus estimate of $34.47 million. Private Bancorp of America had a return on equity of 16.85% and a net margin of 25.45%. On average, sell-side analysts predict that Private Bancorp of America will post 8.22 EPS 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.