DA Davidson Reaffirms Buy Rating for Private Bancorp of America (OTCMKTS:PBAM)

Private Bancorp of America (OTCMKTS:PBAM)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a report released on Friday,Benzinga reports. They currently have a $91.00 target price on the stock. DA Davidson’s target price would indicate a potential upside of 14.47% from the stock’s previous close.

PBAM has been the topic of several other research reports. Zacks Research lowered Private Bancorp of America from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 19th. Piper Sandler reiterated an “overweight” rating and issued a $88.00 target price (up from $77.00) on shares of Private Bancorp of America in a report on Monday, April 20th. Finally, Brean Capital assumed coverage on Private Bancorp of America in a report on Thursday, April 16th. They issued a “buy” rating and a $80.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.33.

Private Bancorp of America Price Performance

PBAM stock opened at $79.50 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.03. The firm has a market cap of $455.22 million, a price-to-earnings ratio of 10.32 and a beta of 0.07. The company’s fifty day simple moving average is $74.33 and its 200 day simple moving average is $68.63. Private Bancorp of America has a 12-month low of $54.45 and a 12-month high of $81.39.

Private Bancorp of America (OTCMKTS:PBAM) last issued its quarterly earnings results on Thursday, July 16th. The company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.27. Private Bancorp of America had a return on equity of 16.85% and a net margin of 25.45%.The firm had revenue of $44.38 million during the quarter, compared to the consensus estimate of $34.47 million. On average, analysts expect that Private Bancorp of America will post 8.22 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.