There has been some selling insider activity on PrivateBancorp, Inc. (NASDAQ:PVTB) recently. Bruce S. Lubin, Pres. of IL Commercial Banking let go of $7,924,390 worth of shares at an average price of $60.51 on June 9th. The Pres. of IL Commercial Banking now owns $9,245,323 of the stock per an SEC filing yesterday. Larry D. Richman, President and CEO reported the sale of 312,679 shares of (PVTB). The shares were sold on June 8th for an average price of $59.75. The President and CEO now owns $35,205,323 of the stock according to the SEC filing.
Principal Accounting Officer Paul E. Carey let go of 16,316 shares at an average price of $59.78 on Thu the 8th. Carey now owns $695,122 of stock as recorded in a recent Form 4 SEC filing.
PrivateBancorp, Inc., launched on November 7, 1989, is a bank holding company for The PrivateBank and Trust Company (the Bank). Through the Bank, the Company provides customized business and personal financial services to middle market companies, as well as business owners, executives, entrepreneurs and families in the markets and communities it serves. The Company operates through three operating segments: Banking, Asset Management and Holding Company activities. It operates commercial banking, community banking and private wealth businesses. Its full-service bank branches are located in the greater Chicago metropolitan area, with additional branches in the St. Louis, Milwaukee and Detroit metropolitan areas. As of December 31, 2016, it had total loans of $15.1 billion and total deposits of $16.1 billion..
Here are a few additional firms who have increased or decreased their stake in (PVTB). Proficio Capital Partners LLC downsized its investment by shedding 3 shares a decrease of 17.6% from 12/31/2016 to 03/31/2017. Proficio Capital Partners LLC currently owns 14 shares worth $1,000. The total value of its holdings decreased 0.0%. Morgan Stanley cut its stake by selling 1,072 shares a decrease of 13.7% as of 03/31/2017. Morgan Stanley owns 6,753 shares with a value of $401,000. The value of the position overall is down by 5.4%.
As of quarter end Tower Research Capital LLC (trc) had sold 2,631 shares trimming its stake by 96.3%. The value in dollars decreased from $148,000 to $6,000 a change of $142,000 for the reporting period. Schroder Investment Management Group augmented its holdings by buying 32,404 shares an increase of 2.2% in the quarter. Schroder Investment Management Group now controls 1,514,709 shares valued at $89,368,000. The total value of its holdings increased 11.3%.
On June 30 the stock rating was downgraded from “” to “Market Perform” with a current price target of $45.00 by Keefe Bruyette & Woods. Piper Jaffray released its first research report on the stock giving it an initial rating of “Neutral”.
Equity analyst DA Davidson added PVTB to its research portfolio setting a rating of “Neutral” and setting a price target of $41.00. On March 22 the company was downgraded to “Market Perform” from “Outperform” in a report from Fig Partners.
On February 9 the company was rated “Buy” in a report from SunTrust Robinson Humphrey up from the previous “Neutral” rating. On February 4, 2016 the stock rating was changed to a “Outperform” by Fig Partners which is up from the previous “Market Perform” rating.
The company is now up by 1.26% since yesterday’s close of $59.76. Additionally the company announced a dividend for shareholders that was paid on Fri Mar 31, 2017. The dividend payment was $0.010 per share for the quarter or $0.04 on an annualized basis. This dividend amount represented a yeild of $0.07. The ex-dividend date was set for Wednesday the 15th of March 2017.
Shares last traded at $60.51 marginally over $59.19, the stock’s 50 day moving average and just above the 200 day moving average of $56.19. The 50 day moving average was up $1.32 or +2.23% whereas the 200 day moving average was up $4.32 or +7.68%.
The company currently has a P/E ratio of 22.77 and the market cap of the company is 4.85B. As of the latest earnings report the EPS was $2.66 and is projected to be $3.08 for the current year with 80,074,000 shares currently outstanding. Next quarter’s EPS is expected be $0.79 and the next full year EPS is anticipated to be $3.47.
Short traders are more bearish on the company lately as shown by the motion in short interest. The company experienced a rise in short interest from April 28, 2017 to May 15, 2017 of 93.33%. Short interest grew 1,069,738 over that timeframe. The short-interest ratio decreased to 1.0 and the percentage of shorted shares is 0.03% as of May 15.