Private Bancorp (NASDAQ:PBAM) Sees Unusually-High Trading Volume – Here’s What Happened

Private Bancorp (NASDAQ:PBAM) saw unusually-strong trading volume on Thursday. 87,991 shares changed hands during trading, an increase of 158% from the previous session’s volume of 34,102 shares. The stock last traded at $87.4990 and had previously closed at $86.15.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PBAM shares. DA Davidson raised their price target on Private Bancorp from $105.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings cut shares of Private Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Wall Street Zen raised shares of Private Bancorp to a “hold” rating in a research note on Monday, August 24th. Finally, Piper Sandler increased their target price on shares of Private Bancorp from $96.00 to $101.00 and gave the company an “overweight” rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Private Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Private Bancorp Stock Performance

The firm has a market capitalization of $492.72 million, a PE ratio of 10.72 and a beta of 0.06. The firm’s 50 day moving average is $87.48.

Private Bancorp (NASDAQ:PBAM) last issued its quarterly earnings results on Friday, October 16th. The company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.10). Private Bancorp had a return on equity of 16.91% and a net margin of 26.03%. The business had revenue of $35.56 million during the quarter, compared to analysts’ expectations of $35.07 million. On average, sell-side analysts forecast that Private Bancorp will post 8.44 earnings per share for the current year.

About Private Bancorp

PrivateBancorp, Inc was a Chicago-based bank holding company that operated through The PrivateBank and Trust Company. The company provided commercial banking, private banking and wealth management services to businesses, professionals, entrepreneurs and individuals.

Its offerings included commercial and real estate lending, business banking, treasury management, deposit accounts, mortgage lending, personal banking and investment-related services. PrivateBancorp primarily served clients in the Midwest and other selected U.S.