Alps Advisors Inc. decreased its position in PrivateBancorp Inc. (NASDAQ:PVTB) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,625 shares of the financial services provider’s stock after selling 400 shares during the period. Alps Advisors Inc.’s holdings in PrivateBancorp were worth $468,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in PrivateBancorp by 32.0% in the first quarter. State Street Corp now owns 3,775,732 shares of the financial services provider’s stock worth $145,744,000 after buying an additional 914,741 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in PrivateBancorp by 19.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,314,440 shares of the financial services provider’s stock worth $89,337,000 after buying an additional 380,829 shares during the period. Prudential PLC purchased a new position in PrivateBancorp during the first quarter worth $12,814,000. Credit Agricole S A increased its position in PrivateBancorp by 855.8% in the first quarter. Credit Agricole S A now owns 342,173 shares of the financial services provider’s stock worth $13,208,000 after buying an additional 306,373 shares during the period. Finally, Chicago Capital Management LLC purchased a new position in PrivateBancorp during the second quarter worth $11,012,000. 90.86% of the stock is owned by hedge funds and other institutional investors.
PrivateBancorp Inc. (NASDAQ:PVTB) traded down 0.15% on Wednesday, reaching $45.42. The company’s stock had a trading volume of 782,404 shares. PrivateBancorp Inc. has a 12 month low of $31.18 and a 12 month high of $46.70. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 18.52 and a beta of 1.88. The firm has a 50 day moving average of $45.66 and a 200 day moving average of $42.66.
PrivateBancorp (NASDAQ:PVTB) last issued its earnings results on Thursday, July 21st. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The firm earned $180.30 million during the quarter, compared to the consensus estimate of $175.59 million. PrivateBancorp had a net margin of 26.08% and a return on equity of 11.60%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 earnings per share. Analysts anticipate that PrivateBancorp Inc. will post $2.57 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.09%. PrivateBancorp’s payout ratio is presently 1.63%.
PVTB has been the subject of a number of recent research reports. Zacks Investment Research downgraded PrivateBancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Royal Bank Of Canada downgraded PrivateBancorp from an “outperform” rating to a “sector perform” rating and set a $46.00 price target for the company. in a research report on Thursday, June 30th. Piper Jaffray Cos. started coverage on PrivateBancorp in a research report on Friday, June 10th. They set a “neutral” rating and a $43.00 price target for the company. Raymond James Financial Inc. cut PrivateBancorp from a “strong-buy” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a research note on Thursday, June 30th. Finally, Keefe, Bruyette & Woods cut PrivateBancorp from an “outperform” rating to a “market perform” rating and set a $45.00 price objective on the stock. in a research note on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $44.22.
In other PrivateBancorp news, insider C. Brant Ahrens sold 2,500 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $46.32, for a total value of $115,800.00. Following the sale, the insider now directly owns 59,311 shares in the company, valued at $2,747,285.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bruce R. Hague sold 11,236 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $43.92, for a total value of $493,485.12. Following the completion of the sale, the insider now owns 139,225 shares in the company, valued at $6,114,762. The disclosure for this sale can be found here. 3.91% of the stock is owned by company insiders.
PrivateBancorp Company Profile
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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