PrivateBancorp Inc (PVTB) is Downgraded by RBC Capital Mkts to Sector Perform, Price Target at $46

PrivateBancorp Inc (PVTB) was Downgraded by RBC Capital Mkts to ” Sector Perform” and the brokerage firm has set the Price Target at $46. Earlier the firm had a rating of “Outperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Jun 30, 2016.

Many Wall Street Analysts have commented on PrivateBancorp Inc. PrivateBancorp Inc was Initiated by Piper Jaffray to “Neutral” on Jun 10, 2016. 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 .

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.

PrivateBancorp Inc opened for trading at $44.29 and hit $44.5 on the upside on Wednesday, eventually ending the session at $44.29, with a gain of 23.27% or 8.36 points. The heightened volatility saw the trading volume jump to 1,72,16,051 shares. Company has a market cap of $3,516 M.

In a different news, on Oct 23, 2015, Bruce R. Hague (Pres. of Natl. Com. Banking) sold 126,867 shares at $40.85 per share price. According to the SEC, on Oct 23, 2015, Leonard Wiatr (Chief Risk Officer) sold 350 shares at $40.58 per share price. On Oct 19, 2015, Ralph B Mandell (director) sold 15,000 shares at $40.26 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.

PrivateBancorp Inc

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