PrivateBancorp, Inc. (NASDAQ:PVTB) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.07. PrivateBancorp had a net margin of 25.68% and a return on equity of 11.42%. The company had revenue of $196 million for the quarter, compared to analyst estimates of $182.64 million. During the same period in the prior year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis.
PrivateBancorp (NASDAQ:PVTB) opened at 53.89 on Thursday. PrivateBancorp has a 1-year low of $31.18 and a 1-year high of $55.12. The stock’s 50 day moving average is $53.18 and its 200-day moving average is $47.13. The company has a market capitalization of $4.29 billion, a P/E ratio of 21.67 and a beta of 1.40.
The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 16th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date of this dividend was Wednesday, December 14th. PrivateBancorp’s dividend payout ratio (DPR) is presently 1.61%.
In other PrivateBancorp news, Director Edward W. Rabin sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $45.05, for a total value of $675,750.00. Following the transaction, the director now directly owns 21,667 shares in the company, valued at approximately $976,098.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider C. Brant Ahrens sold 29,425 shares of the business’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $45.45, for a total transaction of $1,337,366.25. Following the completion of the transaction, the insider now owns 98,373 shares in the company, valued at $4,471,052.85. The disclosure for this sale can be found here. Corporate insiders own 3.91% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PrivateBancorp by 12.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,535 shares of the financial services provider’s stock valued at $116,000 after buying an additional 271 shares during the last quarter. Stevens Capital Management LP purchased a new position in PrivateBancorp during the second quarter valued at $202,000. Cubist Systematic Strategies LLC purchased a new position in PrivateBancorp during the second quarter valued at $212,000. Pacer Advisors Inc. purchased a new position in PrivateBancorp during the second quarter valued at $273,000. Finally, Seven Eight Capital LLC raised its position in PrivateBancorp by 464.7% in the second quarter. Seven Eight Capital LLC now owns 9,600 shares of the financial services provider’s stock valued at $423,000 after buying an additional 7,900 shares during the last quarter. Institutional investors own 88.35% of the company’s stock.
Separately, Zacks Investment Research raised shares of PrivateBancorp from a “sell” rating to a “hold” rating in a research report on Saturday, December 10th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. PrivateBancorp currently has an average rating of “Hold” and a consensus target price of $46.71.
PrivateBancorp, Inc (PrivateBancorp) is a bank holding company. The PrivateBank and Trust Company (the Bank or the PrivateBank) is its bank subsidiary. The Company has three operating segments. The Banking segment consists of commercial and personal banking services. Commercial banking services are primarily provided to corporations and other business clients and include an array of lending and cash management products.