Private Bancorp (NASDAQ:PBAM) Upgraded to Buy at Wall Street Zen

Private Bancorp (NASDAQ:PBAM) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other research firms have also issued reports on PBAM. DA Davidson increased their target price on Private Bancorp from $105.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Weiss Ratings raised Private Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 30th. Finally, Piper Sandler upped their price target on Private Bancorp from $96.00 to $101.00 and gave the company an “overweight” rating in a research note on Tuesday, October 20th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

Private Bancorp Stock Up 0.3%

PBAM stock opened at $84.42 on Friday. Private Bancorp has a 1 year low of $55.12 and a 1 year high of $92.09. The stock’s 50-day moving average is $86.97. The company has a market cap of $483.73 million, a PE ratio of 10.71 and a beta of 0.05.

Private Bancorp (NASDAQ:PBAM) last announced its quarterly earnings data on Friday, October 16th. The company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.10). Private Bancorp had a net margin of 26.03% and a return on equity of 16.91%. The company had revenue of $35.56 million during the quarter, compared to the consensus estimate of $35.07 million. As a group, research analysts forecast 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.