PrivateBancorp Inc. (PVTB) Shares Active after Upgrade at Zacks Investment Research

PrivateBancorp Inc. (NASDAQ: PVTB) shares fell back in value Thursday Dec 22 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.

Meanwhile, U.S. stocks opened mostly flat on Thursday. The Dow Jones Industrial Average DJIA, -0.15% fell 15 points to 19,928, a drop of less than 0.1%. The S&P 500 SPX, -0.22% fell 1 point, or 0.05%, to 2,264. The Nasdaq Composite Index COMP, -0.23% fell 1 point to 5,470.21, essentially unchanged on the day.

Analysts at Zacks Investment Research upgraded shares of PrivateBancorp Inc. (NASDAQ: PVTB) from Hold to Buy today. The company currently has a rating of Buy on the stock. The one-year price target of $47.05 is lower than the opening price of $54.08, that has caused a fair amount of other analysts to issue statements on the stock in recent days. Looking back over the last 52 weeks, PrivateBancorp Inc. stock has a high of $55.12. Stock prices sometimes get a boost to the upside when analysts upgrade a stock.

Shares of PrivateBancorp Inc. (NASDAQ: PVTB) opened at $54.08 on Tuesday and has traded in a range between, $53.72 and $54.28, and last traded at $54.07, which represents a dip of $0.02 per share or -0.04% compared to the previous closing price.

PrivateBancorp Inc. (NASDAQ: PVTB) currently has a market cap of 4.31B.

PrivateBancorp Inc. (NASDAQ: PVTB) Average Daily Trading Volume

187,083 shares traded hands yesterday, below normal, out of a total float 78,382,000. Momentum traders often use increases in trading volume to identify heavy volume aggregation or circulation by institutional investors, so trading volume is likely to increase in the next few days.

However, one day of heavy buy side trading is not enough to affirm a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors have substantial teams of analysts that investigate thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.

PrivateBancorp Inc. (NASDAQ: PVTB) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.

With that in mind, PrivateBancorp Inc. (NASDAQ: PVTB) now has a 50-day MA of $48.78 and 200-day MA of $45.38. It has traded in a 52-week range between $31.18 – 55.12 and today’s last price is 1.90%% lower than the 52 week high of $55.12.

Earnings growth is a crucial factor to research when buying stocks and investors identify companies that have been successful at growing their earnings at least 25% or more over a 3 year period.

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