Trading Report: Today: Private Bank & Trust Co. Reached $6,987,000 position of PrivateBancorp Inc. (PVTB)

Today: Private Bank & Trust Co. Reached $6,987,000 position  of PrivateBancorp Inc. (PVTB)

Private Bank & Trust Co. reduced its stake in shares of PrivateBancorp Inc. (NASDAQ:PVTB) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,154 shares of the financial services provider’s stock after selling 2,957 shares during the period. PrivateBancorp accounts for 1.1% of Private Bank & Trust Co.’s investment portfolio, making the stock its 11th largest position. Private Bank & Trust Co.’s holdings in PrivateBancorp were worth $6,987,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PVTB. BlueMountain Capital Management LLC bought a new stake in shares of PrivateBancorp during the first quarter valued at about $161,000. Independent Portfolio Consultants Inc. increased its position 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 valued at $180,000 after buying an additional 387 shares in the last quarter. Stevens Capital Management LP acquired a new position in PrivateBancorp during the second quarter valued at $202,000. LS Investment Advisors LLC increased its position 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 valued at $209,000 after buying an additional 2,035 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in PrivateBancorp during the second quarter valued at $212,000. Institutional investors and hedge funds own 89.32% of the company’s stock.

Shares of PrivateBancorp Inc. (NASDAQ:PVTB) traded down 0.02% during trading on Monday, reaching $46.80. 2,023,691 shares of the company’s stock were exchanged. PrivateBancorp Inc. has a 52 week low of $31.18 and a 52 week high of $46.98. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 18.82 and a beta of 1.43. The stock has a 50 day moving average price of $45.61 and a 200-day moving average price of $44.14.

PrivateBancorp (NASDAQ:PVTB) last posted its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.05. PrivateBancorp had a return on equity of 11.42% and a net margin of 25.68%. The company had revenue of $183.12 million for the quarter, compared to analyst estimates of $181.50 million. During the same period last year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts predict that PrivateBancorp Inc. will post $2.51 earnings per share for the current year.

Separately, Zacks Investment Research downgraded shares of PrivateBancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $45.00.

In other news, Director Edward W. Rabin sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $45.05, for a total transaction of $675,750.00. Following the transaction, the director now directly owns 21,667 shares of the company’s stock, valued at approximately $976,098.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider C. Brant Ahrens sold 29,425 shares of the company’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $45.45, for a total transaction of $1,337,366.25. Following the transaction, the insider now directly owns 98,373 shares in the company, valued at $4,471,052.85. The disclosure for this sale can be found here. 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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