According to Zacks, “PRIVATEBANCORP is a bank holding company for The PrivateBank and Trust Company. “
Several other analysts have also commented on the company. Royal Bank Of Canada lowered PrivateBancorp from an outperform rating to a sector perform rating and set a $46.00 price objective on the stock. in a report on Thursday, June 30th. Piper Jaffray Cos. assumed coverage on PrivateBancorp in a research report on Friday, June 10th. They issued a neutral rating and a $43.00 target price on the stock. Raymond James Financial Inc. downgraded PrivateBancorp from a strong-buy rating to a market perform rating and set a $49.00 target price on the stock. in a research report on Thursday, June 30th. Keefe, Bruyette & Woods downgraded PrivateBancorp from an outperform rating to a market perform rating and set a $45.00 target price on the stock. in a research report on Thursday, June 30th. Finally, Sterne Agee CRT assumed coverage on PrivateBancorp in a research report on Sunday, June 12th. They issued a hold rating on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $44.22.
Shares of PrivateBancorp (NASDAQ:PVTB) opened at 45.39 on Tuesday. The company has a market capitalization of $3.61 billion, a P/E ratio of 18.51 and a beta of 1.91. PrivateBancorp has a 1-year low of $31.18 and a 1-year high of $46.70. The firm’s 50 day moving average price is $45.53 and its 200-day moving average price is $42.38.
PrivateBancorp (NASDAQ:PVTB) last issued its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.62 EPS for the quarter, missing the consensus estimate of $0.63 by $0.01. PrivateBancorp had a net margin of 26.08% and a return on equity of 11.60%. The business earned $180.30 million during the quarter, compared to analyst estimates of $175.59 million. During the same period in the previous year, the business posted $0.58 earnings per share. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. Analysts expect that PrivateBancorp will post $2.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.09%. PrivateBancorp’s dividend payout ratio is currently 1.63%.
In other PrivateBancorp news, Director Edward W. Rabin sold 5,250 shares of PrivateBancorp stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $45.18, for a total value of $237,195.00. Following the sale, the director now owns 21,667 shares in the company, valued at $978,915.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider C. Brant Ahrens sold 2,500 shares of PrivateBancorp stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $46.32, for a total value of $115,800.00. Following the completion of the sale, the insider now owns 59,311 shares in the company, valued at approximately $2,747,285.52. The disclosure for this sale can be found here. 3.91% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Mason Street Advisors LLC acquired a new stake in PrivateBancorp during the second quarter worth approximately $1,594,000. Aristotle Capital Boston LLC boosted its stake in shares of PrivateBancorp by 3.8% in the second quarter. Aristotle Capital Boston LLC now owns 163,051 shares of the financial services provider’s stock worth $7,179,000 after buying an additional 5,996 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of PrivateBancorp by 2.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 330,765 shares of the financial services provider’s stock worth $14,564,000 after buying an additional 8,868 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of PrivateBancorp by 18.8% in the second quarter. Stifel Financial Corp now owns 476,455 shares of the financial services provider’s stock worth $20,979,000 after buying an additional 75,466 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of PrivateBancorp by 10.9% in the second quarter. Amalgamated Bank now owns 9,763 shares of the financial services provider’s stock worth $439,000 after buying an additional 961 shares during the last quarter. Institutional investors own 90.86% of the company’s stock.
PrivateBancorp, Inc (PrivateBancorp) is a bank holding company. The PrivateBank and Trust Company (the Bank or the PrivateBank) is its bank subsidiary. The Company has three operating segments. The Banking segment consists of commercial and personal banking services. Commercial banking services are primarily provided to corporations and other business clients and include an array of lending and cash management products.
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