Piper Jaffray Initiates Coverage on PrivateBancorp Inc to Neutral

Piper Jaffray Initiates Coverage on PrivateBancorp Inc(NASDAQ:PVTB). The shares have been rated Neutral. The rating by Piper Jaffray was issued on Jun 10, 2016.

In a different note, 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. On Mar 22, 2016, Fig Partners said it Downgrades its rating on PrivateBancorp Inc. The shares have been rated ‘Market Perform’ by the firm.

PrivateBancorp Inc (PVTB) made into the market gainers list on Wednesdays trading session with the shares advancing 0.53% or 0.21 points. Due to strong positive momentum, the stock ended at $40.16, which is also near the day’s high of $41.09. The stock began the session at $40.045 and the volume stood at 4,48,600 shares. The 52-week high of the shares is $45.79 and the 52 week low is $31.18. The company has a current market capitalization of $3,188 M and it has 7,93,85,364 shares in outstanding.

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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