Private Bancorp (NASDAQ:PBAM) Sees Large Volume Increase After Analyst Upgrade

Shares of Private Bancorp (NASDAQ:PBAM) saw unusually-strong trading volume on Tuesday after Wall Street Zen upgraded the stock to a hold rating. 11,445 shares changed hands during trading, an increase of 51% from the previous session’s volume of 7,559 shares.The stock last traded at $87.33 and had previously closed at $88.50.

Separately, DA Davidson lifted their price objective on Private Bancorp from $96.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

Private Bancorp Stock Down 1.2%

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The company has a market cap of $500.86 million, a P/E ratio of 11.35 and a beta of 0.06.

About Private Bancorp

PrivateBancorp, Inc was a Chicago-based bank holding company that operated through The PrivateBank and Trust Company. The company provided banking and financial services primarily to middle-market businesses, professional firms, executives, entrepreneurs and high-net-worth individuals.

Its principal offerings included commercial lending, commercial real estate financing, treasury management, deposit accounts, mortgage lending, private banking and wealth management services. The bank served clients through offices in selected metropolitan markets, including Chicago and other major U.S.