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

Zacks Investment Research upgraded shares of Private Bancorp of America (OTCMKTS:PBAM – Get Rating) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. The firm currently has $34.00 target price on the stock.

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. Private Bancorp of America has a 12 month low of $22.60 and a 12 month high of $31.90. The stock has a fifty day moving average price of $30.26 and a 200-day moving average price of $28.50. The firm has a market cap of $173.10 million, a PE ratio of 7.59 and a beta of 0.25.

Private Bancorp of America (OTCMKTS:PBAM – Get Rating) last issued its earnings results on Friday, April 22nd. The company reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.28. Research analysts forecast that Private Bancorp of America will post 3.3 earnings per share for the current fiscal year.

About Private Bancorp of America (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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