Public Employees Retirement Association of Colorado raised its position in PrivateBancorp Inc. (NASDAQ:PVTB) by 22.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 666,119 shares of the financial services provider’s stock after buying an additional 121,731 shares during the period. Public Employees Retirement Association of Colorado’s holdings in PrivateBancorp were worth $29,329,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in shares of PrivateBancorp during the first quarter worth $147,000. BlueMountain Capital Management LLC purchased a new stake in PrivateBancorp during the first quarter worth approximately $161,000. Independent Portfolio Consultants Inc. increased its stake in PrivateBancorp by 10.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 4,082 shares of the financial services provider’s stock worth $180,000 after buying an additional 387 shares during the period. LS Investment Advisors LLC increased its stake in PrivateBancorp by 74.9% in the second quarter. LS Investment Advisors LLC now owns 4,751 shares of the financial services provider’s stock worth $209,000 after buying an additional 2,035 shares during the period. Finally, LaSalle Street Capital Management LLC purchased a new stake in PrivateBancorp during the second quarter worth approximately $230,000. Institutional investors and hedge funds own 90.86% of the company’s stock.
Shares of PrivateBancorp Inc. (NASDAQ:PVTB) traded up 0.33% on Monday, reaching $45.34. The company’s stock had a trading volume of 245,357 shares. PrivateBancorp Inc. has a 1-year low of $31.18 and a 1-year high of $46.70. The stock has a 50-day moving average price of $45.66 and a 200-day moving average price of $42.72. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 18.49 and a beta of 1.88.
PrivateBancorp (NASDAQ:PVTB) last released its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.62 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $175.59 million. During the same quarter in the previous year, the company posted $0.58 EPS. The company’s revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts forecast that PrivateBancorp Inc. will post $2.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were issued a $0.01 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.09%. PrivateBancorp’s payout ratio is currently 1.63%.
A number of equities research analysts recently commented on the company. Raymond James Financial Inc. downgraded PrivateBancorp from a “strong-buy” rating to a “market perform” rating and set a $49.00 target price for the company. in a report on Thursday, June 30th. Zacks Investment Research raised PrivateBancorp from a “sell” rating to a “hold” rating and set a $49.00 target price for the company in a report on Tuesday, July 26th. Royal Bank Of Canada downgraded PrivateBancorp from an “outperform” rating to a “sector perform” rating and set a $46.00 target price for the company. in a 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 for the company. in a report on Thursday, June 30th. Finally, Sterne Agee CRT assumed coverage on PrivateBancorp in a report on Sunday, June 12th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $44.50.
In other news, insider Bruce R. Hague sold 11,236 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $43.92, for a total value of $493,485.12. Following the transaction, the insider now owns 139,225 shares in the company, valued at approximately $6,114,762. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider C. Brant Ahrens sold 2,500 shares of the stock in a transaction dated 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 transaction, 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 insiders.
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.
Want to see what other hedge funds are holding PVTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PrivateBancorp Inc. (NASDAQ:PVTB).
Receive News & Ratings for PrivateBancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PrivateBancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.