PrivateBancorp (PVTB) : Traders are bullish on PrivateBancorp (PVTB) as it has outperformed the S&P 500 by a wide margin of 0.68% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.62%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.67% in the last 1 week, and is up 1.72% 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 1.71% and the 50-Day Moving Average is 5.16%. PrivateBancorp (NASDAQ:PVTB): On Fridays trading session , Opening price of the stock was $44.74 with an intraday high of $44.98. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $44.74. However, the stock managed to close at $44.94, a loss of 0.11% for the day. On the previous day, the stock had closed at $44.99. The total traded volume of the day was 890,647 shares.
The company Insiders own 3.91% of PrivateBancorp shares according to the proxy statements. Institutional Investors own 93.72% of PrivateBancorp shares. Also, Major Brokerage house, Keefe Bruyette & Woods downgrades its ratings on PrivateBancorp (NASDAQ:PVTB). In the latest research report, Keefe Bruyette & Woods maintains the target price to $45 per share. According to the latest information available, the shares are now rated Market Perform by the analysts at the agency. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on June 30, 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 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.