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

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

Private Bancorp of America Stock Performance

Shares of OTCMKTS:PBAM opened at $49.00 on Monday. The business has a fifty day moving average of $44.05 and a 200-day moving average of $39.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.04. Private Bancorp of America has a twelve month low of $31.95 and a twelve month high of $51.55. The firm 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 boosted their target price on Private Bancorp of America from $41.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd.

Private Bancorp of America Company Profile

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.