Zacks Investment Research Upgrades Private Bancorp of America (OTCMKTS:PBAM) to “Buy”

Private Bancorp of America (OTCMKTS:PBAM – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The firm presently has a $34.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 10.61% from the company’s previous close.

According to Zacks, “Private Bancorp of America Inc. is the holding company for CalPrivate Bank. It provides banking services including Internet banking, retirement accounts, credit card, merchant banking facilities to individuals and businesses. Private Bancorp of America Inc. is based in La Jolla, California. “

Shares of PBAM opened at $30.74 on Wednesday. The business’s fifty day simple moving average is $30.28. Private Bancorp of America has a 12 month low of $22.60 and a 12 month high of $31.90. The firm has a market cap of $173.10 million, a price-to-earnings ratio of 7.59 and a beta of 0.25.

Private Bancorp of America (OTCMKTS:PBAM – Get Rating) last announced its quarterly earnings results on Friday, April 22nd. The company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.28. On average, equities research analysts forecast that Private Bancorp of America will post 3.3 EPS for the current fiscal year.

Private Bancorp of America Company Profile (Get Rating)

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's personal banking services include personal checking and savings, money market, certificate of deposit, and retirement accounts; personal credit lines and term loans; additional services, such as direct deposits, online banking, ATMs/debit cards, credit cards, savings/line of credit overdraft protection, and safe deposit boxes; and certificate of deposit account registry services.

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