Private Bancorp of America (OTCMKTS:PBAM) Earns Overweight Rating from Piper Sandler

Private Bancorp of America (OTCMKTS:PBAM)‘s stock had its “overweight” rating reiterated by Piper Sandler in a report issued on Tuesday,Benzinga reports. They currently have a $78.00 price objective on the stock, down from their prior price objective of $80.00. Piper Sandler’s target price would indicate a potential upside of 32.23% from the stock’s current price.

Private Bancorp of America Stock Performance

Shares of OTCMKTS PBAM traded up $2.49 during mid-day trading on Tuesday, hitting $58.99. The company had a trading volume of 48,472 shares, compared to its average volume of 6,013. The business’s 50-day simple moving average is $53.86 and its 200-day simple moving average is $47.26. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.03. Private Bancorp of America has a 12 month low of $32.37 and a 12 month high of $60.00. The firm has a market cap of $340.37 million, a P/E ratio of 9.58 and a beta of 0.14.

Private Bancorp of America (OTCMKTS:PBAM) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.18. The firm had revenue of $41.45 million for the quarter, compared to analyst estimates of $26.60 million. Private Bancorp of America had a net margin of 22.11% and a return on equity of 17.55%. As a group, analysts predict that Private Bancorp of America will post 6.28 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.