UBS Asset Management Americas Inc. boosted its stake in shares of PrivateBancorp Inc (NASDAQ:PVTB) by 26.0% during the first quarter, Holdings Channel reports. The fund owned 40,903 shares of the financial services provider’s stock after buying an additional 8,447 shares during the period. UBS Asset Management Americas Inc.’s holdings in PrivateBancorp were worth $2,428,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. World Asset Management Inc increased its stake in shares of PrivateBancorp by 2.2% in the first quarter. World Asset Management Inc now owns 4,939 shares of the financial services provider’s stock valued at $293,000 after buying an additional 107 shares in the last quarter. Swiss National Bank increased its stake in shares of PrivateBancorp by 1.5% in the first quarter. Swiss National Bank now owns 125,100 shares of the financial services provider’s stock valued at $7,427,000 after buying an additional 1,800 shares in the last quarter. Comerica Bank increased its stake in shares of PrivateBancorp by 14.2% in the first quarter. Comerica Bank now owns 67,133 shares of the financial services provider’s stock valued at $3,870,000 after buying an additional 8,332 shares in the last quarter. Suntrust Banks Inc. increased its stake in shares of PrivateBancorp by 15.0% in the first quarter. Suntrust Banks Inc. now owns 11,942 shares of the financial services provider’s stock valued at $708,000 after buying an additional 1,556 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of PrivateBancorp by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 950,418 shares of the financial services provider’s stock valued at $56,427,000 after buying an additional 50,340 shares in the last quarter. 88.48% of the stock is owned by hedge funds and other institutional investors.

PrivateBancorp Inc (NASDAQ PVTB) opened at 60.97 on Friday. PrivateBancorp Inc has a one year low of $34.00 and a one year high of $61.12. The company’s 50-day moving average is $59.93 and its 200 day moving average is $57.09.

PrivateBancorp (NASDAQ:PVTB) last announced its quarterly earnings results on Thursday, April 20th. The financial services provider reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.03. The business had revenue of $198.30 million during the quarter, compared to analyst estimates of $197.26 million. PrivateBancorp had a net margin of 29.22% and a return on equity of 11.73%. During the same quarter in the previous year, the business posted $0.62 EPS. On average, equities research analysts forecast that PrivateBancorp Inc will post $3.28 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “UBS Asset Management Americas Inc. Acquires 8,447 Shares of PrivateBancorp Inc (NASDAQ:PVTB)” was reported by Daily Political and is owned by of Daily Political. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The original version of this piece can be accessed at https://www.dailypolitical.com/2017/07/07/ubs-asset-management-americas-inc-acquires-8447-shares-of-privatebancorp-inc-nasdaqpvtb.html.

Several equities research analysts have recently issued reports on PVTB shares. Keefe, Bruyette & Woods raised shares of PrivateBancorp from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $54.00 to $63.00 in a research report on Friday, March 24th. BMO Capital Markets reissued a “hold” rating and set a $61.00 price objective on shares of PrivateBancorp in a research report on Wednesday, March 22nd. Piper Jaffray Companies increased their price objective on shares of PrivateBancorp from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 4th. Zacks Investment Research downgraded shares of PrivateBancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $44.00 price objective on shares of PrivateBancorp in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $59.00.

In other PrivateBancorp news, insider Bruce S. Lubin sold 130,960 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $60.51, for a total transaction of $7,924,389.60. Following the completion of the sale, the insider now owns 230,915 shares in the company, valued at approximately $13,972,666.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jennifer Evans sold 70,020 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $60.68, for a total transaction of $4,248,813.60. Following the sale, the general counsel now owns 104,375 shares of the company’s stock, valued at approximately $6,333,475. The disclosure for this sale can be found here. Insiders have sold a total of 474,654 shares of company stock valued at $28,672,444 in the last 90 days. 3.91% of the stock is currently owned by company insiders.

About PrivateBancorp

PrivateBancorp, Inc is a bank holding company for The PrivateBank and Trust Company (the Bank). Through the Bank, the Company provides customized business and personal financial services to middle market companies, as well as business owners, executives, entrepreneurs and families in the markets and communities it serves.

Want to see what other hedge funds are holding PVTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PrivateBancorp Inc (NASDAQ:PVTB).

Institutional Ownership by Quarter for PrivateBancorp (NASDAQ:PVTB)

Receive News & Ratings for PrivateBancorp Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PrivateBancorp Inc and related companies with MarketBeat.com's FREE daily email newsletter.