Private Bancorp (NASDAQ:PBAM) Stock Price Target Raised at DA Davidson

Private Bancorp (NASDAQ:PBAM) had its price target increased by analysts at DA Davidson from $105.00 to $107.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price target would indicate a potential upside of 23.96% from the company’s previous close.

Other research analysts have also issued reports about the company. Wall Street Zen upgraded Private Bancorp to a “hold” rating in a research note on Monday, August 24th. Weiss Ratings cut Private Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday. Finally, Piper Sandler boosted their target price on shares of Private Bancorp from $96.00 to $101.00 and gave the company an “overweight” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

Private Bancorp Stock Up 3.1%

Shares of PBAM traded up $2.56 during mid-day trading on Tuesday, reaching $86.32. The company had a trading volume of 57,287 shares, compared to its average volume of 32,677. Private Bancorp has a twelve month low of $54.75 and a twelve month high of $92.09. The stock’s 50-day moving average price is $87.61. The stock has a market cap of $494.61 million, a P/E ratio of 10.76 and a beta of 0.06.

Private Bancorp (NASDAQ:PBAM) last posted its earnings results on Friday, October 16th. The company reported $1.97 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.10). The company had revenue of $35.56 million for the quarter, compared to the consensus estimate of $35.07 million. Private Bancorp had a return on equity of 16.91% and a net margin of 26.03%. On average, equities analysts predict that Private Bancorp will post 8.50 earnings per share for the current fiscal year.

About Private Bancorp

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.