Edward W. Rabin Sells 25,000 Shares of PrivateBancorp Inc. (PVTB) Stock
PrivateBancorp Inc. (NASDAQ:PVTB) Director Edward W. Rabin sold 25,000 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $45.16, for a total value of $1,129,000.00. Following the completion of the transaction, the director now directly owns 21,667 shares of the company’s stock, valued at approximately $978,481.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of PrivateBancorp Inc. (NASDAQ:PVTB) opened at 45.76 on Friday. 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 $45.41 and a 200 day moving average price of $43.76. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 18.38 and a beta of 1.43.
PrivateBancorp (NASDAQ:PVTB) last released its quarterly earnings data on Thursday, October 20th. The financial services provider reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.05. The company had revenue of $183.12 million for the quarter, compared to analysts’ expectations of $181.50 million. PrivateBancorp had a net margin of 25.68% and a return on equity of 11.42%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 EPS. On average, equities analysts anticipate that PrivateBancorp Inc. will post $2.51 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in PVTB. BlueMountain Capital Management LLC acquired a new position in shares of PrivateBancorp during the first quarter valued at $161,000. Independent Portfolio Consultants Inc. raised its position in shares of PrivateBancorp by 10.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 4,082 shares of the financial services provider’s stock valued at $180,000 after buying an additional 387 shares in the last quarter. Stevens Capital Management LP acquired a new position in shares of PrivateBancorp during the second quarter valued at $202,000. LS Investment Advisors LLC raised its position in shares of PrivateBancorp by 74.9% in the second quarter. LS Investment Advisors LLC now owns 4,751 shares of the financial services provider’s stock valued at $209,000 after buying an additional 2,035 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of PrivateBancorp during the second quarter valued at $212,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.
Separately, Zacks Investment Research lowered PrivateBancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.
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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