PrivateBancorp Rating Increased to Outperform at Zacks (PVTB)
PrivateBancorp (NASDAQ:PVTB) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, AR Network reports. The firm currently has a $27.60 price objective on the stock. Zacks‘ price objective suggests a potential upside of 10.62% from the stock’s previous close.
Shares of PrivateBancorp (NASDAQ:PVTB) traded down 1.07% on Tuesday, hitting $24.95. The stock had a trading volume of 420,238 shares. PrivateBancorp has a 1-year low of $13.32 and a 1-year high of $24.82. The stock’s 50-day moving average is $23.12 and its 200-day moving average is $20.64. The company has a market cap of $1.909 billion and a P/E ratio of 17.92.
PrivateBancorp (NASDAQ:PVTB) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.37 by $0.05. The company had revenue of $134.40 million for the quarter, compared to the consensus estimate of $132.03 million. During the same quarter last year, the company posted $0.27 earnings per share. PrivateBancorp’s revenue was up .3% compared to the same quarter last year. On average, analysts predict that PrivateBancorp will post $1.56 earnings per share for the current fiscal year.
A number of other firms have also recently commented on PVTB. Analysts at Keefe, Bruyette & Woods raised their price target on shares of PrivateBancorp from $24.00 to $28.00 in a research note to investors on Friday, October 18th. Separately, analysts at Jefferies Group raised their price target on shares of PrivateBancorp from $23.00 to $26.00 in a research note to investors on Friday, October 18th. They now have a “hold” rating on the stock. Finally, analysts at DA Davidson raised their price target on shares of PrivateBancorp from $25.00 to $26.00 in a research note to investors on Friday, October 18th. They now have a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $25.26.
PrivateBancorp, Inc (NASDAQ:PVTB) is a holding company of the PrivateBank and Trust Company (the Bank).
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