Private Bancorp of America (OTCMKTS:PBAM) Releases Earnings Results, Beats Expectations By $0.27 EPS

Private Bancorp of America (OTCMKTS:PBAM) announced its quarterly earnings data on Thursday. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.27, Zacks reports. The business had revenue of $44.38 million for the quarter, compared to analyst estimates of $34.47 million. Private Bancorp of America had a net margin of 24.01% and a return on equity of 16.12%.

Private Bancorp of America Stock Performance

OTCMKTS PBAM opened at $79.74 on Friday. Private Bancorp of America has a fifty-two week low of $54.45 and a fifty-two week high of $81.39. The stock has a market cap of $456.91 million, a PE ratio of 11.08 and a beta of 0.07. 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 firm’s fifty day moving average price is $74.24 and its two-hundred day moving average price is $68.55.

Analyst Upgrades and Downgrades

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