Private Bancorp (NASDAQ:PBAM) Sees Strong Trading Volume - Still a Buy?

Key Points

• Trading volume surged 158% to approximately 87,991 shares, while Private Bancorp’s stock rose to $87.499 from a prior close of $86.15.
• Analyst sentiment remains favorable, with four Buy ratings and one Hold rating; the consensus view is “Moderate Buy” with a $96.00 price target. DA Davidson and Piper Sandler recently raised their targets to $107 and $101, respectively.
• The company reported quarterly EPS of $1.97, missing estimates of $2.07, though revenue of $35.56 million exceeded expectations. Private Bancorp posted a 26.03% net margin and 16.91% return on equity.

Private Bancorp (NASDAQ:PBAM - Get Free Report) shares saw unusually-strong trading volume on Thursday. Approximately 87,991 shares traded hands during trading, an increase of 158% from the previous session's volume of 34,102 shares. The stock last traded at $87.4990 and had previously closed at $86.15.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PBAM. Weiss Ratings cut shares of Private Bancorp from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, October 16th. Wall Street Zen raised shares of Private Bancorp to a "hold" rating in a research note on Monday, August 24th. DA Davidson increased their target price on shares of Private Bancorp from $105.00 to $107.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Piper Sandler raised their target price on Private Bancorp from $96.00 to $101.00 and gave the company an "overweight" rating in a research report on Tuesday. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Private Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $96.00.

Private Bancorp Price Performance

The firm has a market cap of $497.31 million, a price-to-earnings ratio of 10.82 and a beta of 0.06. The company's 50-day moving average is $87.53.

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 net margin of 26.03% and a return on equity of 16.91%. The business had revenue of $35.56 million for the quarter, compared to analysts' expectations of $35.07 million. Analysts anticipate that Private Bancorp will post 8.44 EPS for the current year.

Private Bancorp Company Profile

PrivateBancorp, Inc was a Chicago-based bank holding company that operated through The PrivateBank and Trust Company. The company provided commercial banking, private banking and wealth management services to businesses, professionals, entrepreneurs and individuals.

Its offerings included commercial and real estate lending, business banking, treasury management, deposit accounts, mortgage lending, personal banking and investment-related services. PrivateBancorp primarily served clients in the Midwest and other selected U.S.

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