Private Bancorp (NASDAQ:PBAM) Sees Unusually-High Trading Volume – Still a Buy?

Private Bancorp (NASDAQ:PBAM) saw unusually-high trading volume on Thursday. 87,991 shares changed hands during trading, an increase of 158% from the previous session’s volume of 34,102 shares. The stock last traded at $87.4990 and had previously closed at $86.15.

Wall Street Analysts Forecast Growth

PBAM has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Private Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 16th. DA Davidson lifted their price objective on Private Bancorp from $105.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday. Piper Sandler boosted their price objective on Private Bancorp from $96.00 to $101.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Wall Street Zen raised Private Bancorp to a “hold” rating in a report on Monday, August 24th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Private Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Private Bancorp Stock Performance

The business’s fifty day simple moving average is $87.53. The stock has a market cap of $497.31 million, a P/E ratio of 10.82 and a beta of 0.06.

Private Bancorp (NASDAQ:PBAM) last announced its 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 business had revenue of $35.56 million for the quarter, compared to analyst estimates of $35.07 million. As a group, 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.