Keefe Bruyette & Woods Downgrades PrivateBancorp Inc to Market Perform

Brokerage firm Keefe Bruyette & Woods Downgrades its rating on PrivateBancorp Inc(NASDAQ:PVTB). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Keefe Bruyette & Woods was issued on Jun 30, 2016.

In a different note, Piper Jaffray said it Initiates Coverage on PrivateBancorp Inc, according to a research note issued on Jun 10, 2016. The shares have been rated ‘Neutral’ by the firm. DA Davidson said it Initiates Coverage on PrivateBancorp Inc, according to a research note issued on Apr 7, 2016. The shares have been rated ‘Neutral’ by the firm.

PrivateBancorp Inc (PVTB) shares turned negative on Tuesdays trading session with the shares closing down -0.39 points or -0.89% at a volume of 51,98,166. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $44.08. The peak price level was also seen at $44.08 while the days lowest was $43.3. Finally the shares closed at $43.58. The 52-week high of the shares is $45.79 while the 52-week low is $31.18. According to the latest information available, the market cap of the company is $3,460 M.

PrivateBancorp Inc(PVTB) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $173.12M. Analysts had an estimated revenue of $170.40M. Earnings per share were $0.62. Analysts had estimated an EPS of $0.57.

Several Insider Transactions has been reported to the SEC. On Oct 23, 2015, Bruce R. Hague (Pres. of Natl. Com. Banking) sold 126,867 shares at $40.85 per share price.Also, 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.

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