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

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the recipient of a significant decrease in short interest in the month of 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

OTCMKTS:PBAM traded down $0.15 during midday trading on Friday, hitting $59.10. The company had a trading volume of 3,299 shares, compared to its average volume of 4,389. Private Bancorp of America has a 52-week low of $32.37 and a 52-week high of $61.50. The stock’s fifty day moving average price is $58.56 and its 200-day moving average price is $51.10. The company has a market capitalization of $340.89 million, a PE ratio of 9.59 and a beta of 0.14. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.13.

Private Bancorp of America (OTCMKTS:PBAM) last announced its earnings results on Friday, January 17th. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.22. Private Bancorp of America had a net margin of 22.11% and a return on equity of 17.55%. As a group, research analysts expect that Private Bancorp of America will post 6.88 earnings per share for the current year.

Analyst Ratings Changes

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