Short Interest in Private Bancorp (NASDAQ:PBAM) Expands By 1,009.9%

Private Bancorp (NASDAQ:PBAM) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 7,636 shares, an increase of 1,009.9% from the July 30th total of 688 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 16,416 shares, the short-interest ratio is currently 0.5 days.

Analyst Ratings Changes

A number of brokerages have issued reports on PBAM. DA Davidson lifted their target price on shares of Private Bancorp from $96.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings began coverage on Private Bancorp in a research report on Friday, August 21st. They set a “hold (c)” rating for the company. Finally, Wall Street Zen raised Private Bancorp to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

Private Bancorp Stock Down 0.8%

NASDAQ PBAM traded down $0.69 during mid-day trading on Thursday, reaching $87.81. 5,075 shares of the stock were exchanged, compared to its average volume of 7,773. The firm has a market cap of $503.18 million, a P/E ratio of 11.40 and a beta of 0.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.00. Private Bancorp has a 1-year low of $54.45 and a 1-year high of $89.10.

Private Bancorp Company Profile

PrivateBancorp, Inc was a Chicago-based bank holding company that operated through The PrivateBank and Trust Company. The company provided banking and financial services primarily to middle-market businesses, professional firms, executives, entrepreneurs and high-net-worth individuals.

Its principal offerings included commercial lending, commercial real estate financing, treasury management, deposit accounts, mortgage lending, private banking and wealth management services. The bank served clients through offices in selected metropolitan markets, including Chicago and other major U.S.