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

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 400 shares, a drop of 42.9% from the December 31st total of 700 shares. Based on an average daily trading volume, of 6,200 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

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

Private Bancorp of America Stock Performance

OTCMKTS:PBAM traded up $0.49 during trading hours on Wednesday, reaching $60.48. 1,453 shares of the stock were exchanged, compared to its average volume of 5,520. 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 has a 50 day simple moving average of $55.13 and a 200-day simple moving average of $48.28. The stock has a market capitalization of $348.79 million, a P/E ratio of 9.82 and a beta of 0.14. Private Bancorp of America has a 52 week low of $32.37 and a 52 week high of $61.50.

Private Bancorp of America (OTCMKTS:PBAM) last issued its quarterly earnings results on Friday, January 17th. The company reported $1.82 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Private Bancorp of America will post 6.81 earnings per share 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.