Private Bancorp (NASDAQ:PBAM) Issues Earnings Results

Private Bancorp (NASDAQ:PBAM) posted its quarterly earnings data on Friday. The company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.10), Zacks reports. Private Bancorp had a net margin of 25.45% and a return on equity of 16.53%.

Private Bancorp Stock Up 0.3%

Shares of PBAM stock traded up $0.29 during trading hours on Friday, reaching $84.48. The company had a trading volume of 45,563 shares, compared to its average volume of 30,920. The company has a market cap of $484.06 million, a P/E ratio of 10.96 and a beta of 0.06. Private Bancorp has a 1-year low of $54.45 and a 1-year high of $92.09.

Wall Street Analyst Weigh In

Several research firms have recently commented on PBAM. DA Davidson set a $105.00 target price on Private Bancorp in a research note on Monday, August 24th. Weiss Ratings raised Private Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, September 29th. Wall Street Zen upgraded shares of Private Bancorp to a “hold” rating in a research report on Monday, August 24th. Zacks Research lowered shares of Private Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 19th. Finally, Piper Sandler lifted their price target on shares of Private Bancorp from $88.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $93.67.

Private Bancorp Company Profile

PrivateBancorp, Inc was a bank holding company headquartered in Chicago, Illinois. Through its principal banking subsidiary, The PrivateBank and Trust Company, it provided commercial banking, private banking and wealth management services to businesses, professionals, executives and high-net-worth individuals.

The company offered deposit accounts, commercial and real estate lending, treasury management, investment management and trust services. Its commercial banking activities included financing for middle-market companies, commercial real estate developers and investors, while its private banking business served clients with customized lending, deposit and financial planning needs.

PrivateBancorp operated primarily in the Midwest and other selected U.S.