Private Bancorp of America, Inc. Sees 800% Increase in Short Interest

Private Bancorp of America, Inc. (OTCMKTS:PBAM - Get Free Report) has experienced a substantial surge in short interest during January. By the end of January 31st, the total short interest reached 900 shares, marking a remarkable increase of 800% from just 100 shares recorded on January 15th. Given the average daily trading volume of 13,200 shares, this leads to a short-interest ratio of 0.1 days.

Private Bancorp of America Stock Performance

On Thursday, shares of Private Bancorp of America traded down by $0.36, settling at $59.34. The trading volume for the day reached 15,001 shares, which is notably higher than the average volume of 5,135 shares. Over the past year, the stock has seen a low of $32.37 and a high of $61.50. Currently, the company holds a market capitalization of $342.39 million, with a price-to-earnings (P/E) ratio of 9.63 and a beta of 0.14. Additionally, Private Bancorp maintains a debt-to-equity ratio of 0.13, as well as both a current and quick ratio of 1.03.

The company released its quarterly earnings results on January 17th, reporting earnings per share (EPS) of $1.82, which surpassed analysts' expectations of $1.60 by $0.22. With a net margin of 22.11% and a return on equity of 17.55%, analysts forecast an EPS of 6.88 for the upcoming year.

Changes in Analyst Ratings

In a recent report on January 21st, Piper Sandler maintained an 'overweight' rating on Private Bancorp of America, though they adjusted the price target to $78.00 from a previous $80.00.

About Private Bancorp of America

Private Bancorp of America, Inc operates as the holding company for CalPrivate Bank, providing a range of banking services to individuals and businesses throughout California. Their offerings include checking and savings accounts, money market accounts, and retirement accounts, alongside personal loans, lines of credit, and various additional banking services such as online banking and ATM access.

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