Fannie Mae, Freddie Mac shares tumble after conservatorship comments
Investing.com - DA Davidson has reiterated its Buy rating and $75.00 price target on Private Bancorp of America (OTC:PBAM) stock following the company’s second-quarter results. Currently trading at $58, the stock sits within a broader analyst target range of $68-$80, with InvestingPro data showing 3 analysts recently revising earnings estimates upward.
The firm noted that Private Bancorp’s second-quarter performance exceeded expectations, primarily driven by net interest margin expansion, even when excluding the positive impact of interest recoveries during the quarter. The company’s strong execution is reflected in its 22.32% revenue growth and attractive P/E ratio of 8.15x.
DA Davidson views management’s disciplined approach to loan pricing as a long-term positive for the company, despite potentially restraining near-term loan growth compared to Private Bancorp’s historical trends.
The research firm expects Private Bancorp to maintain its focus on improving its funding base, building new client relationships, and pursuing other internal improvements.
Private Bancorp of America trades on the over-the-counter market under the ticker PBAM, with DA Davidson maintaining both its Buy recommendation and $75 price target on the stock.
In other recent news, DA Davidson has reiterated its Buy rating for Private Bancorp of America. The firm has set a price target of $75.00 for the company’s stock. Private Bancorp’s first-quarter results surpassed expectations, with net interest income performing better than anticipated. These developments indicate a positive outlook from DA Davidson, highlighting the company’s financial performance. The emphasis on net interest income suggests that the company has managed its financial operations effectively during the quarter. Investors may find this information relevant as it provides insights into the company’s recent financial health. These updates reflect the ongoing evaluation and analysis by financial firms like DA Davidson.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.