Private Bancorp of America price target raised to $45 from $39 at DA Davidson

DA Davidson analyst Gary Tennner raised the firm’s price target on Private Bancorp of America to $45 from $39 and keeps a Buy rating on the shares. The company’s Q2 result illustrated the bank’s strong deposit and loan generation abilities, while maintaining an above peer net interest margin, strong returns, and pristine asset quality, the analyst tells investors in a research note. Private Bancorp looks well-positioned to build on its high tough, private banking approach to grow its balance sheet and fund it with core deposits, the firm adds.