Jefferies Sticks to Their Hold Rating for PrivateBancorp

By Jason Carr

In a report released yesterday, Ken Usdin from Jefferies reiterated a Hold rating on PrivateBancorp (NASDAQ: PVTB), with a price target of $44. The company’s shares closed yesterday at $59.67, close to its 52-week high of $60.43.

According to, Usdin is a top 100 analyst with an average return of 18.7% and a 70.5% success rate. Usdin covers the Financial sector, focusing on stocks such as Government Properties Income Trust, Old National Bancorp Capital, and Discover Financial Services.

Currently, the analyst consensus on PrivateBancorp is Hold and the average price target is $57.25, representing a -4.1% downside.

In a report issued on May 26, KBW also downgraded the stock to Hold with a $63 price target.

The company has a one year high of $60.43 and a one year low of $34. Currently, PrivateBancorp has an average volume of 1.38M.

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PrivateBancorp, Inc. operates as a bank holding company, which through its subsidiary, The PrivateBank & Trust Co., provides banking products and services. The bank offers commercial banking, commercial and real estate lending, treasury management, personal banking, wealth management and trust, capital market, investment and investment banking services. It operates through three segments: Banking, Asset Management and The Holding Company Activities. The Banking segment includes commercial and personal banking services, which includes mortgage originations. The Asset Management segment includes investment management, investment advisory, personal trust and estate administration, custodial and escrow, retirement account administration and brokerage services. The Holding Company Activities segment includes the direct and indirect ownership of banking and nonbanking subsidiaries and the issuance of debt and intersegment eliminations. PrivateBancorp was founded by Ralph B. Mandell in 1989 and is headquartered in Chicago, IL.