The Emerald Advisers Inc. PA decides to keep it stake in PrivateBancorp Inc. (PVTB) to the level of $700,000

The Emerald Advisers Inc. PA decides to keep it stake in PrivateBancorp Inc. (PVTB) to the level of $700,000

Emerald Advisers Inc. PA decreased its position in shares of PrivateBancorp Inc. (NASDAQ:PVTB) by 96.5% during the second quarter, Holdings Channel reports. The institutional investor owned 15,892 shares of the financial services provider’s stock after selling 444,575 shares during the period. Emerald Advisers Inc. PA’s holdings in PrivateBancorp were worth $700,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Strs Ohio raised its stake in PrivateBancorp by 2.5% in the second quarter. Strs Ohio now owns 12,200 shares of the financial services provider’s stock worth $537,000 after buying an additional 300 shares in the last quarter. Independent Portfolio Consultants Inc. raised its stake in PrivateBancorp by 10.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 4,082 shares of the financial services provider’s stock worth $180,000 after buying an additional 387 shares in the last quarter. Capstone Asset Management Co. raised its stake in PrivateBancorp by 20.8% in the second quarter. Capstone Asset Management Co. now owns 8,472 shares of the financial services provider’s stock worth $373,000 after buying an additional 1,460 shares in the last quarter. Riverhead Capital Management LLC raised its stake in PrivateBancorp by 12.4% in the first quarter. Riverhead Capital Management LLC now owns 18,092 shares of the financial services provider’s stock worth $699,000 after buying an additional 1,992 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in PrivateBancorp by 74.9% in the second quarter. LS Investment Advisors LLC now owns 4,751 shares of the financial services provider’s stock worth $209,000 after buying an additional 2,035 shares in the last quarter. Institutional investors own 90.86% of the company’s stock.

PrivateBancorp Inc. (NASDAQ:PVTB) traded up 0.31% during trading on Wednesday, reaching $45.36. 856,586 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $45.67 and its 200-day moving average price is $42.83. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 18.50 and a beta of 1.88. PrivateBancorp Inc. has a 52-week low of $31.18 and a 52-week high of $46.70.

PrivateBancorp (NASDAQ:PVTB) last announced its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The firm earned $180.30 million during the quarter, compared to the consensus estimate of $175.59 million. PrivateBancorp had a net margin of 26.08% and a return on equity of 11.60%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. Equities analysts expect that PrivateBancorp Inc. will post $2.56 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.09%. PrivateBancorp’s payout ratio is 1.63%.

A number of research firms have recently issued reports on PVTB. Zacks Investment Research upgraded shares of PrivateBancorp from a “sell” rating to a “hold” rating and set a $49.00 price objective on the stock in a research note on Tuesday, July 26th. Raymond James Financial Inc. lowered shares of PrivateBancorp from a “strong-buy” rating to a “market perform” rating and set a $49.00 price target for the company. in a research note on Thursday, June 30th. Royal Bank Of Canada lowered shares of PrivateBancorp from an “outperform” rating to a “sector perform” rating and set a $46.00 price target for the company. in a research note on Thursday, June 30th. Finally, Keefe, Bruyette & Woods lowered shares of PrivateBancorp from an “outperform” rating to a “market perform” rating and set a $45.00 price target for the company. in a research note on Thursday, June 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $44.50.

In other PrivateBancorp news, insider Bruce R. Hague sold 11,236 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $43.92, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider C. Brant Ahrens sold 2,500 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 59,311 shares of the company’s stock, valued at approximately $2,747,285.52. The disclosure for this sale can be found here. Company insiders own 3.91% of the company’s stock.

About PrivateBancorp

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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