Hillcrest Asset Management Lowers stake in PrivateBancorp Inc (PVTB)

PrivateBancorp Inc (PVTB) : Hillcrest Asset Management reduced its stake in PrivateBancorp Inc by 0.33% during the most recent quarter end. The investment management company now holds a total of 235,411 shares of PrivateBancorp Inc which is valued at $10,579,370 after selling 772 shares in PrivateBancorp Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.PrivateBancorp Inc makes up approximately 2.53% of Hillcrest Asset Management’s portfolio.

Other Hedge Funds, Including , Two Sigma Investments Lp added PVTB to its portfolio by purchasing 78,979 company shares during the most recent quarter which is valued at $3,549,316. PrivateBancorp Inc makes up approx 0.02% of Two Sigma Investments Lp’s portfolio.Laurion Capital Management Lp boosted its stake in PVTB in the latest quarter, The investment management firm added 1,768 additional shares and now holds a total of 11,400 shares of PrivateBancorp Inc which is valued at $512,316. PrivateBancorp Inc makes up approx 0.03% of Laurion Capital Management Lp’s portfolio.Thomas White International Ltd reduced its stake in PVTB by selling 475 shares or 67.38% in the most recent quarter. The Hedge Fund company now holds 230 shares of PVTB which is valued at $10,336.California State Teachers Retirement System reduced its stake in PVTB by selling 2,083 shares or 1.25% in the most recent quarter. The Hedge Fund company now holds 164,947 shares of PVTB which is valued at $7,259,317. PrivateBancorp Inc makes up approx 0.02% of California State Teachers Retirement System’s portfolio. Clarivest Asset Management sold out all of its stake in PVTB during the most recent quarter. The investment firm sold 63,046 shares of PVTB which is valued $2,786,633.

PrivateBancorp Inc opened for trading at $46.07 and hit $46.15 on the upside on Thursday, eventually ending the session at $46.12, with a gain of 0.37% or 0.17 points. The heightened volatility saw the trading volume jump to 7,57,285 shares. Company has a market cap of $3,666 M.

On the company’s financial health, PrivateBancorp Inc reported $0.62 EPS for the quarter, based on the information available during the earnings call on Jul 21, 2016. Analyst had a consensus estimate of $0.62. The company had revenue of $180.30 million for the quarter, compared to analysts expectations of $175.59 million. The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.

Investors should note that on Aug 22, 2016, PrivateBancorp Inc announced a cash dividend of $0.0100. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on PrivateBancorp Inc. PrivateBancorp Inc was Downgraded by Keefe Bruyette to ” Mkt Perform” on Jun 30, 2016. PrivateBancorp Inc was Downgraded by Raymond James to ” Mkt Perform” on Jun 30, 2016. RBC Capital Mkts Downgraded PrivateBancorp Inc on Jun 30, 2016 to ” Sector Perform”, Price Target of the shares are set at $46.

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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