DA Davidson Reiterates Buy Rating on Private Bancorp of America (PBAM)

DA Davidson analyst Gary Tenner reiterated a Buy rating and $75.00 price target on Private Bancorp of America (OTC: PBAM).

The analyst commented, "PBAM's 3Q result was impacted by nonaccrual interest reversals and a higher than projected PLL, although loss given default risk on the nonaccrual adds appears limited. Going forward, we are optimistic that the company can improve net loan growth versus recent levels, while maintaining an above peer NIM and profitability ratios"

For an analyst ratings summary and ratings history on Private Bancorp of America click here. For more ratings news on Private Bancorp of America click here.

Shares of Private Bancorp of America closed at $55.25 yesterday.

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