Private Bancorp of America (OTCMKTS:PBAM) Hits New 52-Week High – Here’s What Happened

Private Bancorp of America, Inc. (OTCMKTS:PBAM)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $88.20 and last traded at $88.15, with a volume of 6844 shares trading hands. The stock had previously closed at $87.71.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PBAM shares. Piper Sandler upped their price target on Private Bancorp of America from $88.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Zacks Research lowered shares of Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a report on Friday, June 19th. Finally, DA Davidson set a $105.00 price objective on shares of Private Bancorp of America in a report on Monday. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Private Bancorp of America presently has a consensus rating of “Moderate Buy” and an average price target of $93.67.

Private Bancorp of America Stock Down 0.0%

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $506.52 million, a price-to-earnings ratio of 11.49 and a beta of 0.06. The firm’s fifty day moving average is $80.39 and its 200-day moving average is $73.64.

Private Bancorp of America (OTCMKTS:PBAM) last released its earnings results on Monday, July 20th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate 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 net margin of 25.45% and a return on equity of 16.85%. On average, sell-side analysts predict that Private Bancorp of America, Inc. will post 8.52 earnings per share for the current 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.