On a relative basis, the stock has outperformed the S&P 500 by 8.23% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.03% in the last 1 week, and is up 12.96% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 6.67% and the 50-Day Moving Average is 6.14%.
PrivateBancorp (NASDAQ:PVTB): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $44.30 and $44.08 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $44.39. The buying momentum continued till the end and the stock did not give up its gains. It closed at $44.18, notching a gain of 0.25% for the day. The total traded volume was 1,249,452 . The stock had closed at $44.07 on the previous day.
The company Insiders own 3.91% of PrivateBancorp shares according to the proxy statements. Institutional Investors own 96.75% of PrivateBancorp shares. In a related news, Hague Bruce R., officer (Pres. of Natl. Com. Banking) of Privatebancorp, Inc, unloaded 126,867 shares at an average price of $40.85 on October 22, 2015. The total amount of the transaction was worth $5,182,517, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
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.