Private Bancorp (NASDAQ:PBAM) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of Private Bancorp (NASDAQ:PBAM) saw an uptick in trading volume on Tuesday after Wall Street Zen upgraded the stock to a hold rating. 11,445 shares changed hands during mid-day trading, an increase of 51% from the previous session’s volume of 7,559 shares.The stock last traded at $87.33 and had previously closed at $88.50.

Separately, DA Davidson boosted their target price on Private Bancorp from $96.00 to $105.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.00.

Private Bancorp Stock Down 1.2%

The company has a market cap of $500.86 million, a price-to-earnings ratio of 11.35 and a beta of 0.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.00.

Private Bancorp Company Profile

PrivateBancorp, Inc was a Chicago-based bank holding company that operated through The PrivateBank and Trust Company. The company provided banking and financial services primarily to middle-market businesses, professional firms, executives, entrepreneurs and high-net-worth individuals.

Its principal offerings included commercial lending, commercial real estate financing, treasury management, deposit accounts, mortgage lending, private banking and wealth management services. The bank served clients through offices in selected metropolitan markets, including Chicago and other major U.S.