Palisade Capital Managementnj buys $31.5 Million stake in PrivateBancorp Inc (PVTB)

PrivateBancorp Inc (PVTB) : Palisade Capital Managementnj scooped up 66,716 additional shares in PrivateBancorp Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 802,831 shares of PrivateBancorp Inc which is valued at $31.5 Million.PrivateBancorp Inc makes up approximately 1.22% of Palisade Capital Managementnj’s portfolio.

Other Hedge Funds, Including , Whv Investments sold out all of its stake in PVTB during the most recent quarter. The investment firm sold 11,820 shares of PVTB which is valued $463,108.First Trust Advisors Lp reduced its stake in PVTB by selling 56,412 shares or 22.49% in the most recent quarter. The Hedge Fund company now holds 194,409 shares of PVTB which is valued at $7.6 Million. PrivateBancorp Inc makes up approx 0.02% of First Trust Advisors Lp’s portfolio.Ls Investment Advisors boosted its stake in PVTB in the latest quarter, The investment management firm added 160 additional shares and now holds a total of 2,716 shares of PrivateBancorp Inc which is valued at $106,413. PrivateBancorp Inc makes up approx 0.01% of Ls Investment Advisors’s portfolio. Dupont Capital Management Corp added PVTB to its portfolio by purchasing 21,707 company shares during the most recent quarter which is valued at $903,228. PrivateBancorp Inc makes up approx 0.02% of Dupont Capital Management Corp’s portfolio.Glenmede Trust Co Na boosted its stake in PVTB in the latest quarter, The investment management firm added 566,935 additional shares and now holds a total of 622,125 shares of PrivateBancorp Inc which is valued at $25.9 Million. PrivateBancorp Inc makes up approx 0.17% of Glenmede Trust Co Na’s portfolio.

PrivateBancorp Inc opened for trading at $39.37 and hit $40.1 on the upside on Monday, eventually ending the session at $39.83, with a gain of 1.66% or 0.65 points. The heightened volatility saw the trading volume jump to 5,77,404 shares. Company has a market cap of $3,162 M.

On the company’s financial health, PrivateBancorp Inc reported $0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.57.Analysts expectations of $ 170.03.During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on PrivateBancorp Inc. Company shares were Reiterated by RBC Capital Mkts on Apr 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 46 from a previous price target of $44 .PrivateBancorp Inc was Downgraded by FIG Partners to ” Market Perform” on Mar 22, 2016.

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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