Wall Street Zen Upgrades Private Bancorp (NASDAQ:PBAM) to Buy

Private Bancorp (NASDAQ:PBAM) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research firms also recently issued reports on PBAM. Piper Sandler lifted their price objective on shares of Private Bancorp from $96.00 to $101.00 and gave the company an “overweight” rating in a report on Tuesday, October 20th. DA Davidson upped 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, October 20th. Finally, Weiss Ratings upgraded shares of Private Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 30th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Private Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Private Bancorp Price Performance

Shares of NASDAQ PBAM opened at $84.42 on Friday. The business’s 50 day moving average price is $86.97. Private Bancorp has a 1 year low of $55.12 and a 1 year high of $92.09. The firm has a market cap of $483.73 million, a P/E ratio of 10.71 and a beta of 0.05.

Private Bancorp (NASDAQ:PBAM) last released its quarterly earnings results on Friday, October 16th. The company reported $1.97 earnings per share (EPS) 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 firm had revenue of $35.56 million for the quarter, compared to analyst estimates of $35.07 million. As a group, equities research analysts forecast that Private Bancorp will post 8.44 earnings per share for the current fiscal 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.