PrivateBancorp Inc. (PVTB) Sets New 52-Week High at $46.59
Shares of PrivateBancorp Inc. (NASDAQ:PVTB) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $46.59 and last traded at $46.50, with a volume of 244,293 shares traded. The stock had previously closed at $46.39.
A number of analysts have recently issued reports on PVTB shares. Zacks Investment Research raised shares of PrivateBancorp from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Wednesday, May 11th. Sterne Agee CRT started coverage on shares of PrivateBancorp in a research note on Sunday, June 12th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods cut shares of PrivateBancorp from an “outperform” rating to a “market perform” rating and set a $45.00 price objective for the company. in a research note on Thursday, June 30th. Raymond James Financial cut shares of PrivateBancorp from a “strong-buy” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research note on Thursday, June 30th. Finally, Piper Jaffray Cos. started coverage on shares of PrivateBancorp in a research note on Friday, June 10th. They issued a “neutral” rating and a $43.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.22.
The firm’s 50-day moving average is $44.85 and its 200-day moving average is $41.30. The company has a market capitalization of $3.70 billion and a P/E ratio of 18.98.
PrivateBancorp (NASDAQ:PVTB) last released its earnings results on Thursday, July 21st. The financial services provider reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by $0.01. The company had revenue of $180.30 million for the quarter, compared to the consensus estimate of $175.59 million. During the same period in the previous year, the business earned $0.58 EPS. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts predict that PrivateBancorp Inc. will post $2.57 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid 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 PrivateBancorp 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 sale, the director now directly owns 21,667 shares in the company, valued at approximately $978,915.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bruce R. Hague sold 11,236 shares of PrivateBancorp stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $43.92, for a total transaction of $493,485.12. Following the sale, the insider now owns 139,225 shares of the company’s stock, valued at $6,114,762. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in PrivateBancorp stock. KBC Group NV raised its stake in shares of PrivateBancorp Inc. (NASDAQ:PVTB) by 79.5% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 43,531 shares of the financial services provider’s stock after buying an additional 19,279 shares during the period. KBC Group NV owned about 0.06% of PrivateBancorp worth $1,786,000 as of its most recent filing with the SEC.
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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