Private Bancorp of America, Inc. (OTCMKTS:PBAM) Sees Significant Increase in Short Interest

Private Bancorp of America, Inc. (OTCMKTS:PBAM) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 300 shares, an increase of 50.0% from the May 15th total of 200 shares. Based on an average daily volume of 3,900 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Private Bancorp of America Stock Down 0.3%

Shares of OTCMKTS PBAM opened at $54.19 on Wednesday. The stock has a fifty day moving average price of $54.13 and a 200 day moving average price of $55.72. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.07. Private Bancorp of America has a 12-month low of $34.79 and a 12-month high of $61.50. The company has a market cap of $314.84 million, a P/E ratio of 8.21 and a beta of 0.29.

Private Bancorp of America (OTCMKTS:PBAM) last released its quarterly earnings results on Monday, April 21st. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.66 by $0.14. Private Bancorp of America had a return on equity of 17.54% and a net margin of 23.11%. The firm had revenue of $29.35 million for the quarter, compared to analyst estimates of $30.30 million. Research analysts anticipate that Private Bancorp of America will post 6.88 EPS for the current fiscal year.

Analyst Ratings Changes

PBAM has been the subject of several recent analyst reports. Piper Sandler lowered their price target on Private Bancorp of America from $78.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Stephens upgraded shares of Private Bancorp of America to a “strong-buy” rating in a report on Thursday, May 1st.

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.