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

Key Points

• DA Davidson raised Private Bancorp’s price target from $105 to $107 and maintained a “Buy” rating, implying approximately 24% upside from the stock’s $86.32 price.
• Analyst sentiment remains favorable overall, with four Buy ratings and one Hold rating, producing a MarketBeat consensus of “Moderate Buy” and an average target price of $96.
• Private Bancorp shares rose 3.1% in Tuesday trading, while the company’s latest quarterly EPS of $1.97 fell short of the $2.07 consensus despite revenue exceeding estimates.

Private Bancorp (NASDAQ:PBAM - Get Free Report) had its price objective lifted by stock analysts at DA Davidson from $105.00 to $107.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. DA Davidson's target price indicates a potential upside of 23.96% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Wall Street Zen raised shares of Private Bancorp to a "hold" rating in a research report on Monday, August 24th. Weiss Ratings downgraded shares of Private Bancorp from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday. Finally, Piper Sandler upped their price objective on shares of Private Bancorp from $96.00 to $101.00 and gave the stock an "overweight" rating in a report on Tuesday. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $96.00.

Private Bancorp Stock Up 3.1%

Shares of PBAM stock traded up $2.56 during trading on Tuesday, reaching $86.32. The company had a trading volume of 57,287 shares, compared to its average volume of 32,677. The stock has a 50 day moving average price of $87.61. Private Bancorp has a one year low of $54.75 and a one year high of $92.09. The firm 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 - Get Free Report) last announced its earnings results on Friday, October 16th. The company reported $1.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.07 by ($0.10). Private Bancorp had a return on equity of 16.91% and a net margin of 26.03%. The company had revenue of $35.56 million for the quarter, compared to the consensus estimate of $35.07 million. As a group, sell-side analysts anticipate that Private Bancorp will post 8.50 earnings per share for the current 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.

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