PrivateBancorp (PVTB) : The traders have covered their outstanding shorts in PrivateBancorp (PVTB) to the tune of -36,695 shares, a change of -2%. As on Jul 29, 2016, the outstanding shorts on the stock were 1,836,999 shares, however, by August 15, 2016, the shorts had reduced to 1,800,304 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 2.3% of the free float of the stock. It takes 2 days to cover the outstanding short positions. The stock has an average daily volume of 730,022 shares. The short interest information was released on Wednesday Aug 24th after the market close.
PrivateBancorp (NASDAQ:PVTB): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $45.65 and $45.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $45.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $45.79, notching a gain of 0.44% for the day. The total traded volume was 427,209 . The stock had closed at $45.59 on the previous day.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Pres. of Natl. Com. Banking) of Privatebancorp, Inc, Hague Bruce R. had sold 11,236 shares worth of $493,485 in a transaction dated August 1, 2016. In this transaction, 11,236 shares were sold at $43.92 per share.
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 Companys 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.