Private Bancorp (NASDAQ:PBAM) Stock Bumped Up to “Buy” by Wall Street Zen

Wall Street Zen upgraded shares of Private Bancorp (NASDAQ:PBAM) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other analysts have also issued reports about the stock. Piper Sandler raised their price objective on shares of Private Bancorp from $96.00 to $101.00 and gave the company an “overweight” rating in a research note on Tuesday, October 20th. Weiss Ratings upgraded shares of Private Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 30th. Finally, DA Davidson upped their target price on shares of Private Bancorp from $105.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Private Bancorp Stock Performance

NASDAQ PBAM opened at $84.42 on Friday. Private Bancorp has a 12 month low of $55.12 and a 12 month high of $92.09. The business has a fifty day moving average of $86.97. The stock has a market capitalization of $483.73 million, a PE ratio of 10.53 and a beta of 0.05.

Private Bancorp (NASDAQ:PBAM) last posted its quarterly earnings results on Friday, October 16th. The company reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.10). The company had revenue of $35.56 million during the quarter, compared to analysts’ expectations of $35.07 million. Private Bancorp had a return on equity of 16.91% and a net margin of 26.03%. As a group, equities research analysts expect that Private Bancorp will post 8.44 earnings per share for the current year.

Private Bancorp Company Profile

PrivateBancorp, Inc was a Chicago-based bank holding company that operated through The PrivateBank and Trust Company. The company provided commercial banking, private banking and wealth management services to businesses, professionals, entrepreneurs and individuals.

Its offerings included commercial and real estate lending, business banking, treasury management, deposit accounts, mortgage lending, personal banking and investment-related services. PrivateBancorp primarily served clients in the Midwest and other selected U.S.