PrivateBancorp Inc. (NASDAQ:PVTB) hit a new 52-week high on Wednesday . The stock traded as high as $45.92 and last traded at $45.85, with a volume of 149,822 shares trading hands. The stock had previously closed at $45.59.

PVTB has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of PrivateBancorp from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Wednesday, May 4th. Raymond James Financial Inc. restated a “strong-buy” rating on shares of PrivateBancorp in a research note on Friday, June 3rd. Piper Jaffray Cos. initiated coverage on shares of PrivateBancorp in a research note on Friday, June 10th. They issued a “neutral” rating and a $43.00 target price for the company. Sterne Agee CRT initiated coverage on shares of PrivateBancorp in a research note on Sunday, June 12th. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods downgraded shares of PrivateBancorp from an “outperform” rating to a “market perform” rating and set a $45.00 target price for the company. in a research note on Thursday, June 30th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. PrivateBancorp presently has a consensus rating of “Hold” and a consensus price target of $43.70.

The stock has a 50-day moving average of $44.32 and a 200 day moving average of $40.56. The firm has a market capitalization of $3.65 billion and a PE ratio of 18.721.

PrivateBancorp (NASDAQ:PVTB) last announced its earnings results on Thursday, July 21st. The financial services provider reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by $0.01. The company had revenue of $180.30 million for the quarter, compared to analysts’ expectations of $175.59 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities analysts forecast that PrivateBancorp Inc. will post $2.55 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.09%. The ex-dividend date is Wednesday, September 14th.

In other PrivateBancorp news, Director Edward W. Rabin sold 5,250 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $45.18, for a total transaction of $237,195.00. Following the completion of the transaction, the director now owns 21,667 shares in the company, valued at approximately $978,915.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruce R. Hague sold 11,236 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $43.92, for a total transaction of $493,485.12. Following the transaction, the insider now owns 139,225 shares of the company’s stock, valued at approximately $6,114,762. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in PrivateBancorp by 2.0% in the fourth quarter. Wells Fargo & Company MN now owns 461,304 shares of the financial services provider’s stock valued at $18,922,000 after buying an additional 8,967 shares during the period. Schroder Investment Management Group boosted its position in PrivateBancorp by 22.9% in the fourth quarter. Schroder Investment Management Group now owns 530,500 shares of the financial services provider’s stock valued at $21,761,000 after buying an additional 99,000 shares during the period. KBC Group NV boosted its position in PrivateBancorp by 79.5% in the fourth quarter. KBC Group NV now owns 43,531 shares of the financial services provider’s stock valued at $1,786,000 after buying an additional 19,279 shares during the period. RS Investment Management Co. LLC boosted its position in PrivateBancorp by 4.4% in the fourth quarter. RS Investment Management Co. LLC now owns 878,460 shares of the financial services provider’s stock valued at $36,034,000 after buying an additional 36,930 shares during the period. Finally, King Luther Capital Management Corp boosted its position in PrivateBancorp by 94.2% in the fourth quarter. King Luther Capital Management Corp now owns 639,940 shares of the financial services provider’s stock valued at $26,250,000 after buying an additional 310,375 shares during the period.

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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