Private Bancorp (NASDAQ:PBAM) Announces Earnings Results

Private Bancorp (NASDAQ:PBAM) announced its quarterly earnings results on Friday. The company reported $1.97 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.10), Zacks reports. Private Bancorp had a net margin of 25.45% and a return on equity of 16.53%.

Private Bancorp Trading Up 0.4%

PBAM traded up $0.33 during midday trading on Friday, hitting $84.52. The company had a trading volume of 37,441 shares, compared to its average volume of 30,882. Private Bancorp has a twelve month low of $54.45 and a twelve month high of $92.09. The stock has a market capitalization of $484.27 million, a PE ratio of 10.96 and a beta of 0.06.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PBAM shares. DA Davidson set a $105.00 target price on shares of Private Bancorp in a research note on Monday, August 24th. Weiss Ratings raised shares of Private Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, September 29th. Wall Street Zen upgraded shares of Private Bancorp to a “hold” rating in a research report on Monday, August 24th. Zacks Research cut shares of Private Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 19th. Finally, Piper Sandler lifted their price target on shares of Private Bancorp from $88.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.67.

Private Bancorp Company Profile

PrivateBancorp, Inc was a bank holding company headquartered in Chicago, Illinois. Through its principal banking subsidiary, The PrivateBank and Trust Company, it provided commercial banking, private banking and wealth management services to businesses, professionals, executives and high-net-worth individuals.

The company offered deposit accounts, commercial and real estate lending, treasury management, investment management and trust services. Its commercial banking activities included financing for middle-market companies, commercial real estate developers and investors, while its private banking business served clients with customized lending, deposit and financial planning needs.

PrivateBancorp operated primarily in the Midwest and other selected U.S.