PrivateBancorp Inc. (NASDAQ:PVTB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “PRIVATEBANCORP is a bank holding company for The PrivateBank and Trust Company. “

Analyst Recommendations for PrivateBancorp (NASDAQ:PVTB)

PrivateBancorp (NASDAQ:PVTB) opened at 46.67 on Tuesday. The firm has a 50-day moving average of $45.50 and a 200-day moving average of $44.03. PrivateBancorp has a 12-month low of $31.18 and a 12-month high of $46.70. The firm has a market cap of $3.72 billion, a P/E ratio of 18.77 and a beta of 1.43.

PrivateBancorp (NASDAQ:PVTB) last announced its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The firm earned $183.12 million during the quarter, compared to the consensus estimate of $181.50 million. PrivateBancorp had a net margin of 25.68% and a return on equity of 11.42%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. On average, analysts expect that PrivateBancorp will post $2.51 EPS for the current year.

In other news, Director Edward W. Rabin sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $45.05, for a total transaction of $675,750.00. Following the completion of the transaction, the director now directly owns 21,667 shares in the company, valued at $976,098.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider C. Brant Ahrens sold 2,500 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 59,311 shares of the company’s stock, valued at $2,747,285.52. The disclosure for this sale can be found here. Company insiders own 3.91% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PVTB. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PrivateBancorp by 12.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,535 shares of the financial services provider’s stock worth $116,000 after buying an additional 271 shares during the period. 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 worth $180,000 after buying an additional 387 shares during the period. BlueMountain Capital Management LLC acquired a new position in shares of PrivateBancorp during the first quarter worth approximately $161,000. Stevens Capital Management LP acquired a new position in shares of PrivateBancorp during the second quarter worth approximately $202,000. Finally, 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 worth $209,000 after buying an additional 2,035 shares during the period. Institutional investors own 87.93% of the company’s stock.

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.

5 Day Chart for NASDAQ:PVTB

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