Short Interest in Private Bancorp (NASDAQ:PBAM) Increases By 1,009.9%

Private Bancorp (NASDAQ:PBAM) saw a significant growth in short interest in August. As of August 14th, there was short interest totaling 7,636 shares, a growth of 1,009.9% from the July 30th total of 688 shares. Based on an average daily volume of 16,416 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the company’s stock are sold short.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PBAM shares. Weiss Ratings started coverage on Private Bancorp in a research note on Friday. They issued a “hold (c)” rating on the stock. Wall Street Zen upgraded shares of Private Bancorp to a “hold” rating in a report on Monday. Finally, DA Davidson upped their target price on shares of Private Bancorp from $96.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.00.

Private Bancorp Price Performance

Shares of PBAM traded down $0.04 on Tuesday, hitting $88.46. 35,957 shares of the stock traded hands, compared to its average volume of 19,172. Private Bancorp has a one year low of $54.45 and a one year high of $89.10. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $506.88 million, a P/E ratio of 11.49 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.