Short Interest in Private Bancorp of America, Inc. (OTCMKTS:PBAM) Declines By 53.4%

by · The Cerbat Gem

Private Bancorp of America, Inc. (OTCMKTS:PBAM – Get Free Report) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 252 shares, a drop of 53.4% from the November 30th total of 541 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 5,561 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily volume of 5,561 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

Private Bancorp of America Price Performance

PBAM stock remained flat at $57.25 during midday trading on Friday. 1 shares of the company’s stock were exchanged, compared to its average volume of 3,691. The stock’s fifty day simple moving average is $56.81 and its 200-day simple moving average is $57.07. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $328.04 million, a P/E ratio of 8.13 and a beta of 0.10. Private Bancorp of America has a 1 year low of $50.60 and a 1 year high of $61.50.

Private Bancorp of America (OTCMKTS:PBAM – Get Free Report) last posted its quarterly earnings data on Friday, October 17th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.16). Private Bancorp of America had a return on equity of 17.10% and a net margin of 24.04%.The business had revenue of $31.50 million for the quarter, compared to analysts’ expectations of $31.79 million. As a group, research analysts forecast that Private Bancorp of America will post 6.88 earnings per share for the current fiscal year.

Private Bancorp of America declared that its board has authorized a stock repurchase program on Thursday, September 11th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 target price (down previously from $77.00) on shares of Private Bancorp of America in a report on Tuesday, October 21st. DA Davidson set a $75.00 price objective on Private Bancorp of America in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Private Bancorp of America presently has a consensus rating of “Buy” and an average target price of $74.00.

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About Private Bancorp of America

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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.

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