Private Bancorp of America (OTCMKTS:PBAM) Issues Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Private Bancorp of America (OTCMKTS:PBAM) announced its earnings results on Friday. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.18, Zacks reports. The firm had revenue of $41.45 million for the quarter, compared to the consensus estimate of $26.60 million. Private Bancorp of America had a return on equity of 16.96% and a net margin of 21.84%.

Private Bancorp of America Stock Up 4.8 %

Shares of PBAM stock opened at $49.00 on Monday. Private Bancorp of America has a 1 year low of $31.95 and a 1 year high of $51.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.04. The business’s fifty day moving average is $44.05 and its 200-day moving average is $39.00. The stock has a market cap of $281.80 million, a PE ratio of 7.12 and a beta of 0.20.

Analysts Set New Price Targets

Separately, Stephens raised their target price on shares of Private Bancorp of America from $41.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd.

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.