Piper Sandler Reiterates “Overweight” Rating for Private Bancorp of America (OTCMKTS:PBAM)

Private Bancorp of America (OTCMKTS:PBAM)‘s stock had its “overweight” rating reaffirmed by stock analysts at Piper Sandler in a report released on Tuesday,Benzinga reports. They presently have a $78.00 price target on the stock, down from their prior price target of $80.00. Piper Sandler’s target price indicates a potential upside of 32.23% from the company’s previous close.

Private Bancorp of America Trading Up 4.4 %

OTCMKTS:PBAM traded up $2.49 on Tuesday, hitting $58.99. 48,472 shares of the stock were exchanged, compared to its average volume of 6,013. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.03. Private Bancorp of America has a 52 week low of $32.37 and a 52 week high of $60.00. The stock has a market capitalization of $340.37 million, a price-to-earnings ratio of 9.58 and a beta of 0.14. The company’s 50-day moving average price is $53.86 and its 200 day moving average price is $47.26.

Private Bancorp of America (OTCMKTS:PBAM) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.18. Private Bancorp of America had a net margin of 22.11% and a return on equity of 17.55%. The business had revenue of $41.45 million during the quarter, compared to the consensus estimate of $26.60 million. On average, equities research analysts forecast that Private Bancorp of America will post 6.28 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.