Keefe Bruyette & Woods Upgrades PrivateBancorp Inc to Outperform with Price Target $63

Brokerage firm Keefe Bruyette & Woods Upgrades its rating on PrivateBancorp Inc(PVTB). As per the latest information, Keefe Bruyette & Woods Raises the price target to $63 per share from a prior target of $54. The shares have been rated Outperform. Previously, the analysts had a Market Perform rating on the shares. The rating by the stock financial advisor at Keefe Bruyette & Woods was issued on Mar 27, 2017 in a research report to their Investors and Clients.

PrivateBancorp Inc (PVTB) shares turned negative on Fridays trading session with the shares closing down -0.28 points or -0.50% at a volume of 4,30,690. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $56. The peak price level was also seen at $56 while the days lowest was $55.16. Finally the shares closed at $55.51. The 52-week high of the shares is $58.3 while the 52-week low is $34. According to the latest information available, the market cap of the company is $4,442 M.

PrivateBancorp Inc(PVTB) last announced its earnings results on Jan 18, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $194.793M. Analysts had an estimated revenue of $185.530M. Earnings per share were $0.73. Analysts had estimated an EPS of $0.66.

Several Insider Transactions has been reported to the SEC. On Nov 9, 2016, Edward W Rabin (director) sold 40,000 shares at $45.11 per share price.Also, On Oct 27, 2016, C. Brant Ahrens (President, Personal Client Ser) sold 29,425 shares at $45.45 per share price.On Aug 2, 2016, Bruce R. Hague (Pres. of Natl. Com. Banking) sold 11,236 shares at $43.92 per share price, according to the Form-4 filing with the securities and exchange commission.

PrivateBancorp Inc. is a bank holding company. The Company provides financial services to middle market companies as well as business owners executives entrepreneurs and families in all the markets and communities it serves. The Company provides a range of commercial real estate and personal lending products and services to its clients. The Company has three operating segments: Banking Asset Management and Holding Company activities. Its Banking segment includes commercial banking community banking and the private banking business within private wealth. The Company’s Asset Management segment includes certain activities of its PrivateWealth group including investment management personal trust and estate administration custodial and escrow retirement account administration and brokerage services. The activities of the Holding Company Activities segment include the direct and indirect ownership of its banking subsidiary the issuance of debt and intersegment eliminations.

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