Piper Sandler Cuts Private Bancorp of America (OTCMKTS:PBAM) Price Target to $68.00

Private Bancorp of America (OTCMKTS:PBAM) had its target price reduced by Piper Sandler from $78.00 to $68.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Private Bancorp of America Stock Up 1.4 %

Shares of OTCMKTS PBAM opened at $53.50 on Tuesday. Private Bancorp of America has a 12-month low of $33.80 and a 12-month high of $61.50. The stock has a market cap of $309.71 million, a P/E ratio of 8.69 and a beta of 0.20. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $55.15 and its 200-day simple moving average is $54.05.

Private Bancorp of America (OTCMKTS:PBAM) last announced its quarterly earnings data on Friday, April 18th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.14. The company had revenue of $29.35 million for the quarter, compared to the consensus estimate of $30.30 million. Private Bancorp of America had a net margin of 22.11% and a return on equity of 17.55%. As a group, equities analysts predict that Private Bancorp of America will post 6.88 EPS for the current fiscal 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.