PrivateBancorp Inc. (PVTB) Stock Rating Upgraded by Zacks Investment Research
PrivateBancorp Inc. (NASDAQ:PVTB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “PRIVATEBANCORP is a bank holding company for The PrivateBank and Trust Company. “
PrivateBancorp (NASDAQ:PVTB) opened at 46.78 on Tuesday. The company has a market cap of $3.73 billion, a PE ratio of 18.81 and a beta of 1.43. PrivateBancorp has a 52 week low of $31.18 and a 52 week high of $46.98. The company has a 50-day moving average of $45.65 and a 200-day moving average of $44.25.
PrivateBancorp (NASDAQ:PVTB) last issued its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by $0.05. The company earned $183.12 million during the quarter, compared to the consensus estimate of $181.50 million. PrivateBancorp had a return on equity of 11.42% and a net margin of 25.68%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, equities analysts expect that PrivateBancorp will post $2.51 EPS for the current year.
In other PrivateBancorp news, Director Edward W. Rabin sold 15,000 shares of the stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $45.05, for a total value of $675,750.00. Following the sale, the director now owns 21,667 shares in the company, valued at $976,098.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider C. Brant Ahrens sold 29,425 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $45.45, for a total value of $1,337,366.25. Following the completion of the sale, the insider now owns 98,373 shares in the company, valued at approximately $4,471,052.85. The disclosure for this sale can be found here. 3.91% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. LS Investment Advisors LLC raised 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 last quarter. Copper Rock Capital Partners LLC raised its stake in PrivateBancorp by 1.6% in the second quarter. Copper Rock Capital Partners LLC now owns 580,997 shares of the financial services provider’s stock worth $25,581,000 after buying an additional 9,053 shares during the last quarter. LaSalle Street Capital Management LLC acquired a new stake in PrivateBancorp during the second quarter worth $230,000. Eagle Boston Investment Management Inc. raised its stake in PrivateBancorp by 2.6% in the second quarter. Eagle Boston Investment Management Inc. now owns 219,881 shares of the financial services provider’s stock worth $9,681,000 after buying an additional 5,656 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. raised 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 last quarter. Institutional investors and hedge funds own 89.32% 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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