PrivateBancorp Inc (NASDAQ:PVTB) Set to Announce Quarterly Earnings on Wednesday
PrivateBancorp Inc (NASDAQ:PVTB) is set to release its earnings data before the market opens on Wednesday, July 19th. Analysts expect PrivateBancorp to post earnings of $0.76 per share for the quarter.
PrivateBancorp (NASDAQ:PVTB) last issued its quarterly earnings results on Thursday, April 20th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.03. PrivateBancorp had a net margin of 29.22% and a return on equity of 11.73%. The company had revenue of $198.30 million during the quarter, compared to the consensus estimate of $197.26 million. During the same quarter in the prior year, the firm posted $0.62 EPS. On average, analysts expect PrivateBancorp to post $3.28 EPS for the current fiscal year and $3.70 EPS for the next fiscal year.
Shares of PrivateBancorp Inc (NASDAQ PVTB) opened at 60.97 on Monday. The stock’s 50 day moving average is $59.93 and its 200-day moving average is $57.09. PrivateBancorp Inc has a one year low of $34.00 and a one year high of $61.12.
A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of PrivateBancorp from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Saturday, June 24th. Jefferies Group LLC restated a “hold” rating and issued a $44.00 price objective on shares of PrivateBancorp in a research report on Friday, June 2nd. Keefe, Bruyette & Woods restated a “mkt perform” rating on shares of PrivateBancorp in a research report on Tuesday, May 30th. Piper Jaffray Companies raised their price objective on shares of PrivateBancorp from $50.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, April 4th. Finally, BMO Capital Markets restated a “hold” rating and issued a $61.00 price objective on shares of PrivateBancorp in a research report on Wednesday, March 22nd. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.00.
In other PrivateBancorp news, insider Bruce S. Lubin sold 130,960 shares of PrivateBancorp stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $60.51, for a total transaction of $7,924,389.60. Following the completion of the sale, the insider now directly owns 230,915 shares in the company, valued at $13,972,666.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul E. Carey sold 16,316 shares of PrivateBancorp stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $59.78, for a total transaction of $975,370.48. Following the sale, the insider now owns 22,162 shares of the company’s stock, valued at $1,324,844.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 474,654 shares of company stock valued at $28,672,444. 3.91% of the stock is currently owned by company insiders.
PrivateBancorp, Inc is a bank holding company for The PrivateBank and Trust Company (the Bank). Through the Bank, the Company provides customized business and personal financial services to middle market companies, as well as business owners, executives, entrepreneurs and families in the markets and communities it serves.
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