KBW Downgrades PrivateBancorp to Hold

By Ryan Adsit

KBW analyst Melissa Roberts downgraded PrivateBancorp (NASDAQ: PVTB) to Hold yesterday and set a price target of $63. The company’s shares closed yesterday at $59.71, close to its 52-week high of $60.43.

According to TipRanks.com, Roberts is a 2-star analyst with an average return of 1.3% and a 51.5% success rate. Roberts covers the Financial sector, focusing on stocks such as Argo Group International Holdings Ltd, Fidelity National Financial Ventures, and First Financial Corporation Indiana.

PrivateBancorp has an analyst consensus of Hold, with a price target consensus of $57.25.

Based on PrivateBancorp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $218 million and quarterly net profit of $57.25 million. In comparison, last year the company earned revenue of $187 million and had a net profit of $49.13 million.

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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.