Private Bancorp of America (OTCMKTS:PBAM) Upgraded to “Strong-Buy” at Zacks Research

Private Bancorp of America (OTCMKTS:PBAM) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also commented on the stock. DA Davidson increased their price objective on shares of Private Bancorp of America from $80.00 to $91.00 and gave the stock a “buy” rating in a report on Monday. 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. Finally, Piper Sandler reissued an “overweight” rating and set a $88.00 price objective (up from $77.00) on shares of Private Bancorp of America in a report on Monday. Two analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $86.33.

Private Bancorp of America Stock Down 0.0%

PBAM opened at $73.49 on Tuesday. The firm’s 50-day simple moving average is $67.75 and its 200-day simple moving average is $61.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.00 and a current ratio of 1.00. Private Bancorp of America has a twelve month low of $51.62 and a twelve month high of $74.25. The firm has a market cap of $420.36 million, a price-to-earnings ratio of 10.21 and a beta of 0.02.

Private Bancorp of America (OTCMKTS:PBAM) last issued its quarterly earnings data on Friday, April 17th. The company reported $2.07 EPS for the quarter, topping 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 16.38%. The firm had revenue of $34.54 million for the quarter, compared to analyst estimates of $31.99 million. Equities research analysts anticipate that Private Bancorp of America will post 8.21 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.