Stock Worth Mentioning Today: Is Buying PrivateBancorp Inc Here a Winning Strategy?

Stock Worth Mentioning Today: Is Buying PrivateBancorp Inc Here a Winning Strategy?

The stock of PrivateBancorp Inc (NASDAQ:PVTB) hit a new 52-week high and has $47.99 target or 3.00% above today’s $46.59 share price. The 8 months bullish chart indicates low risk for the $3.72B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $47.99 price target is reached, the company will be worth $111.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 266,019 shares traded hands. PrivateBancorp Inc (NASDAQ:PVTB) has risen 12.16% since April 20, 2016 and is uptrending. It has outperformed by 7.60% the S&P500.

PrivateBancorp Inc (NASDAQ:PVTB) Ratings Coverage

Out of 11 analysts covering Privatebancorp Inc. (NASDAQ:PVTB), 2 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 18% are positive. Privatebancorp Inc. has been the topic of 17 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The rating was upgraded by RBC Capital Markets on Wednesday, January 13 to “Outperform”. The company was initiated on Friday, October 9 by Stephens. The stock has “Neutral” rating given by Piper Jaffray on Friday, June 10. The stock of PrivateBancorp Inc (NASDAQ:PVTB) has “Hold” rating given on Friday, September 4 by Zacks. Zacks upgraded PrivateBancorp Inc (NASDAQ:PVTB) on Thursday, August 27 to “Hold” rating. As per Thursday, June 30, the company rating was downgraded by RBC Capital Markets. FIG Partners downgraded the shares of PVTB in a report on Tuesday, March 22 to “Market Perform” rating. The stock of PrivateBancorp Inc (NASDAQ:PVTB) has “Outperform” rating given on Thursday, February 4 by FIG Partners. The stock of PrivateBancorp Inc (NASDAQ:PVTB) earned “Buy” rating by Suntrust Robinson on Tuesday, February 9. The firm earned “Market Perform” rating on Thursday, June 30 by Keefe Bruyette & Woods.

According to Zacks Investment Research, “PRIVATEBANCORP is a bank holding company for The PrivateBank and Trust Company.”

Insitutional Activity: The institutional sentiment decreased to 0.59 in 2016 Q2. Its down 0.50, from 1.09 in 2016Q1. The ratio is negative, as 25 funds sold all PrivateBancorp Inc shares owned while 94 reduced positions. 46 funds bought stakes while 84 increased positions. They now own 70.37 million shares or 7.98% less from 76.47 million shares in 2016Q1.
The Manitoba – Canada-based Ig Inv Mngmt has invested 0.01% in PrivateBancorp Inc (NASDAQ:PVTB). Suntrust Banks Inc accumulated 0% or 8,222 shares. Capital Services Of America accumulated 388,223 shares or 3.26% of the stock. Cantab Cap Prns Llp last reported 4,601 shares in the company. Sg Americas Ltd, a New York-based fund reported 15,641 shares. The California-based California State Teachers Retirement Systems has invested 0.02% in PrivateBancorp Inc (NASDAQ:PVTB). Massachusetts Financial Services Ma holds 164,258 shares or 0% of its portfolio. Carlson Cap L P reported 621,000 shares or 0.34% of all its holdings. Meeder Asset Mgmt last reported 0.01% of its portfolio in the stock. Bnp Paribas Inv Ptnrs holds 0.06% of its portfolio in PrivateBancorp Inc (NASDAQ:PVTB) for 158,154 shares. Pacad accumulated 0% or 600 shares. Nationwide Fund holds 266,198 shares or 0.05% of its portfolio. Dupont Capital Management accumulated 0.03% or 27,382 shares. Cap Fund Sa holds 0.02% of its portfolio in PrivateBancorp Inc (NASDAQ:PVTB) for 37,178 shares. Gabelli holds 35,000 shares or 0.2% of its portfolio.

Insider Transactions: Since August 1, 2016, the stock had 0 insider buys, and 5 sales for $3.99 million net activity. Ahrens C. Brant also sold $115,800 worth of PrivateBancorp Inc (NASDAQ:PVTB) shares. Shares for $1.80 million were sold by RABIN EDWARD W on Monday, November 7. 11,236 shares with value of $493,492 were sold by Hague Bruce R. on Monday, August 1.

More recent PrivateBancorp Inc (NASDAQ:PVTB) news were published by: Prnewswire.com which released: “CIBC to Acquire PrivateBancorp, Inc.” on June 29, 2016. Also Prnewswire.com published the news titled: “PrivateBancorp, Inc. Discloses Results of 2016 Dodd-Frank Act Company-Run …” on October 20, 2016. Reuters.com‘s news article titled: “BRIEF-CIBC to acquire PrivateBancorp Inc” with publication date: June 29, 2016 was also an interesting one.

PVTB Company Profile

PrivateBancorp, Inc. (PrivateBancorp), incorporated on November 7, 1989, is a bank holding company. The PrivateBank and Trust Company (the Bank or the PrivateBank) is its bank subsidiary. The Firm has three operating divisions: Banking, Asset Management and Holding Company activities. The Firm provides financial services to middle market companies, as well as business owners, executives, entrepreneurs and families in various markets and communities it serves. The Firm provides a range of commercial, real estate and personal lending services and products to its clients. The Firm operates Commercial Banking, Community Banking and Private Wealth businesses.

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