Thrivent Financial For Lutherans boosted its stake in PrivateBancorp Inc (NASDAQ:PVTB) by 10.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,080 shares of the financial services provider’s stock after buying an additional 1,430 shares during the period. Thrivent Financial For Lutherans’ holdings in PrivateBancorp were worth $895,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empyrean Capital Partners LP purchased a new position in PrivateBancorp during the fourth quarter valued at about $80,957,000. Norges Bank purchased a new position in PrivateBancorp during the fourth quarter valued at about $31,248,000. Ameriprise Financial Inc. boosted its position in PrivateBancorp by 57.4% in the first quarter. Ameriprise Financial Inc. now owns 324,686 shares of the financial services provider’s stock valued at $19,277,000 after buying an additional 118,348 shares in the last quarter. Leucadia National Corp purchased a new position in PrivateBancorp during the first quarter valued at about $6,828,000. Finally, Gluskin Sheff & Assoc Inc. purchased a new position in PrivateBancorp during the first quarter valued at about $8,903,000. 88.48% of the stock is owned by hedge funds and other institutional investors.
PrivateBancorp Inc (PVTB) traded up 1.18% during mid-day trading on Friday, hitting $60.97. PrivateBancorp Inc has a 52 week low of $34.00 and a 52 week high of $61.12. The firm’s 50 day moving average is $59.93 and its 200 day moving average is $57.09.
PrivateBancorp (NASDAQ:PVTB) last announced its quarterly earnings data on Thursday, April 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The company had revenue of $198.30 million for the quarter, compared to analysts’ expectations of $197.26 million. PrivateBancorp had a net margin of 29.22% and a return on equity of 11.73%. During the same quarter in the previous year, the company posted $0.62 EPS. Equities analysts anticipate that PrivateBancorp Inc will post $3.28 EPS for the current fiscal year.
Several research analysts recently issued reports on PVTB shares. Keefe, Bruyette & Woods raised shares of PrivateBancorp from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $54.00 to $63.00 in a report on Friday, March 24th. Zacks Investment Research lowered shares of PrivateBancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Piper Jaffray Companies upped their target price on shares of PrivateBancorp from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 4th. Finally, Jefferies Group LLC restated a “hold” rating and set a $44.00 target price on shares of PrivateBancorp in a research report on Friday, June 2nd. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. PrivateBancorp has a consensus rating of “Hold” and a consensus price target of $59.00.
In other news, insider Bruce S. Lubin sold 130,960 shares of PrivateBancorp stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $60.51, for a total value of $7,924,389.60. Following the transaction, the insider now directly owns 230,915 shares of the company’s stock, valued at $13,972,666.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin M. Killips sold 100,337 shares of PrivateBancorp stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $60.33, for a total transaction of $6,053,331.21. Following the completion of the transaction, the chief financial officer now directly owns 217,503 shares in the company, valued at $13,121,955.99. The disclosure for this sale can be found here. Insiders sold a total of 474,654 shares of company stock worth $28,672,444 in the last ninety days. Corporate insiders own 3.91% of the company’s stock.
PrivateBancorp Company Profile
PrivateBancorp, Inc 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.
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