PrivateBancorp Inc. (PVTB) Scheduled to Post Quarterly Earnings on Thursday
PrivateBancorp Inc. (NASDAQ:PVTB) is scheduled to post its quarterly earnings results before the market opens on Thursday, October 20th. Analysts expect PrivateBancorp to post earnings of $0.66 per share for the quarter.
Shares of PrivateBancorp Inc. (NASDAQ:PVTB) opened at 46.04 on Wednesday. The stock has a market capitalization of $3.66 billion, a P/E ratio of 18.78 and a beta of 1.88. PrivateBancorp Inc. has a one year low of $31.18 and a one year high of $46.70. The firm’s 50-day moving average price is $45.62 and its 200-day moving average price is $43.08.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Wednesday, September 14th. PrivateBancorp’s dividend payout ratio is presently 1.63%.
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In related news, insider C. Brant Ahrens sold 2,500 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $46.32, for a total value of $115,800.00. Following the completion of the sale, the insider now directly owns 59,311 shares in the company, valued at approximately $2,747,285.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Bruce R. Hague sold 11,236 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $43.92, for a total value of $493,485.12. Following the completion of the sale, the insider now owns 139,225 shares of the company’s stock, valued at $6,114,762. The disclosure for this sale can be found here. Insiders own 3.91% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PVTB. Stevens Capital Management LP bought a new stake in shares of PrivateBancorp during the second quarter valued at about $202,000. Cubist Systematic Strategies LLC bought a new stake in shares of PrivateBancorp during the second quarter valued at about $212,000. Pacer Advisors Inc. bought a new stake in shares of PrivateBancorp during the second quarter valued at about $273,000. Seven Eight Capital LLC increased its stake in shares of PrivateBancorp by 464.7% in the second quarter. Seven Eight Capital LLC now owns 9,600 shares of the financial services provider’s stock valued at $423,000 after buying an additional 7,900 shares in the last quarter. Finally, Laurion Capital Management LP increased its stake in shares of PrivateBancorp by 18.4% in the second quarter. Laurion Capital Management LP now owns 11,400 shares of the financial services provider’s stock valued at $502,000 after buying an additional 1,768 shares in the last quarter. Hedge funds and other institutional investors own 87.68% of the company’s stock.
A number of research analysts have weighed in on PVTB shares. Zacks Investment Research lowered PrivateBancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Keefe, Bruyette & Woods lowered PrivateBancorp from an “outperform” rating to a “market perform” rating and set a $45.00 price target on the stock. in a research note on Thursday, June 30th. Royal Bank Of Canada lowered PrivateBancorp from an “outperform” rating to a “sector perform” rating and set a $46.00 price target on the stock. in a research note on Thursday, June 30th. Finally, Raymond James Financial Inc. lowered PrivateBancorp from a “strong-buy” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research note on Thursday, June 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.00.
PrivateBancorp Company Profile
PrivateBancorp, Inc (PrivateBancorp) is a bank holding company. The PrivateBank and Trust Company (the Bank or the PrivateBank) is its bank subsidiary. The Company has three operating segments. The Banking segment consists of commercial and personal banking services. Commercial banking services are primarily provided to corporations and other business clients and include an array of lending and cash management products.
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