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

Private Bancorp of America, Inc. (OTCMKTS:PBAM) saw a large decrease in short interest in February. As of February 15th, there was short interest totalling 300 shares, a decrease of 66.7% from the January 31st total of 900 shares. Based on an average daily volume of 7,600 shares, the days-to-cover ratio is currently 0.0 days.

Private Bancorp of America Price Performance

Shares of PBAM traded down $0.15 during trading hours on Friday, hitting $59.10. 3,299 shares of the company were exchanged, compared to its average volume of 4,389. The company has a market cap of $340.89 million, a price-to-earnings ratio of 9.59 and a beta of 0.14. Private Bancorp of America has a fifty-two week low of $32.37 and a fifty-two week high of $61.50. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average is $58.56 and its 200 day moving average is $51.10.

Private Bancorp of America (OTCMKTS:PBAM) last released its quarterly earnings data on Friday, January 17th. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.22. Private Bancorp of America had a return on equity of 17.55% and a net margin of 22.11%. On average, equities analysts anticipate that Private Bancorp of America will post 6.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reissued an “overweight” rating and set a $78.00 target price (down from $80.00) on shares of Private Bancorp of America in a report on Tuesday, January 21st.

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.