Stock Mover of The Day: Will PrivateBancorp Inc Run Out of Steam Soon?

Stock Mover of The Day: Will PrivateBancorp Inc Run Out of Steam Soon?

The stock of PrivateBancorp Inc (NASDAQ:PVTB) hit a new 52-week high and has $48.20 target or 3.00% above today’s $46.80 share price. The 9 months bullish chart indicates low risk for the $3.74 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $48.20 price target is reached, the company will be worth $112.20M 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. The stock decreased 0.02% or $0.01 on November 28, hitting $46.8. About 1.60M shares traded hands or 151.25% up from the average. PrivateBancorp Inc (NASDAQ:PVTB) has risen 11.35% since April 25, 2016 and is uptrending. It has outperformed by 5.33% the S&P500.

Analysts await PrivateBancorp Inc (NASDAQ:PVTB) to report earnings on January, 19. They expect $0.66 EPS, up 1.54% or $0.01 from last year’s $0.65 per share. PVTB’s profit will be $52.74M for 17.73 P/E if the $0.66 EPS becomes a reality. After $0.60 actual EPS reported by PrivateBancorp Inc for the previous quarter, Wall Street now forecasts 10.00% EPS growth.

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 firm has “Neutral” rating by Macquarie Research given on Wednesday, October 14. The stock of PrivateBancorp Inc (NASDAQ:PVTB) has “Neutral” rating given on Friday, June 10 by Piper Jaffray. The firm has “Buy” rating by Zacks given on Tuesday, August 25. The company was downgraded on Wednesday, August 19 by Zacks. The rating was upgraded by Zacks on Thursday, August 27 to “Hold”. The company was upgraded on Thursday, February 4 by FIG Partners. The company was downgraded on Thursday, June 30 by RBC Capital Markets. Stephens initiated PrivateBancorp Inc (NASDAQ:PVTB) on Friday, October 9 with “Equal Weight” rating. On Wednesday, January 13 the stock rating was upgraded by RBC Capital Markets to “Outperform”. On Tuesday, March 22 the stock rating was downgraded by FIG Partners to “Market Perform”.

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 Q2 2016. Its down 0.50, from 1.09 in 2016Q1. The ratio dived, 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.
Manufacturers Life Company The has 0.01% invested in the company for 158,692 shares. Springbok Cap Management Ltd Llc last reported 0.27% of its portfolio in the stock. Fiera accumulated 18,100 shares or 0% of the stock. Independent Portfolio Consultants last reported 0.06% of its portfolio in the stock. Liberty Mutual Asset Management accumulated 34,452 shares or 0.06% of the stock. The Massachusetts-based Loomis Sayles Com Limited Partnership has invested 0.07% in PrivateBancorp Inc (NASDAQ:PVTB). Moreover, American Century Cos has 0% invested in PrivateBancorp Inc (NASDAQ:PVTB) for 69,124 shares. Ameritas Invest Partners Inc reported 18,620 shares or 0.05% of all its holdings. Northern Trust holds 2.14 million shares or 0.03% of its portfolio. American Interest Gru has 196,380 shares for 0% of their US portfolio. Systematic Financial Management Ltd Partnership last reported 0.03% of its portfolio in the stock. Summit Secs Grp Incorporated Llc accumulated 21,769 shares or 0.51% of the stock. Adams Diversified Equity Fund Incorporated owns 8,900 shares or 0.03% of their US portfolio. Oregon Employees Retirement Fund has 0.03% invested in the company for 26,856 shares. Voya Inv Mgmt Limited Liability last reported 0.04% of its portfolio in the stock.

Insider Transactions: Since August 1, 2016, the stock had 0 buys, and 5 selling transactions for $3.99 million net activity. RABIN EDWARD W sold $1.80 million worth of stock or 40,000 shares. Ahrens C. Brant had sold 29,425 shares worth $1.34M on Wednesday, October 26. Shares for $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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