Private Bancorp (NASDAQ:PBAM) Posts Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Private Bancorp (NASDAQ:PBAM) released its earnings results on Friday. The company reported $1.97 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.10), Zacks reports. Private Bancorp had a net margin of 25.45% and a return on equity of 16.53%.

Private Bancorp Trading Up 0.4%

PBAM traded up $0.33 during midday trading on Friday, reaching $84.52. 37,441 shares of the company were exchanged, compared to its average volume of 30,882. Private Bancorp has a one year low of $54.45 and a one year high of $92.09. The stock has a market cap of $484.27 million, a P/E ratio of 10.96 and a beta of 0.06.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Zacks Research cut Private Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, June 19th. DA Davidson set a $105.00 price objective on Private Bancorp in a research report on Monday, August 24th. Weiss Ratings raised Private Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, September 29th. Piper Sandler boosted their price objective on Private Bancorp from $88.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Finally, Wall Street Zen upgraded shares of Private Bancorp to a “hold” rating in a research report on Monday, August 24th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.67.

Private Bancorp Company Profile

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.