Private Bancorp (NASDAQ:PBAM) Short Interest Up 1,009.9% in August

Private Bancorp (NASDAQ:PBAM) was the target of a large growth in short interest during the month of 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 trading volume of 16,416 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

PBAM has been the subject of several research analyst reports. Wall Street Zen upgraded Private Bancorp to a “hold” rating in a research report on Monday. Weiss Ratings assumed coverage on Private Bancorp in a report on Friday. They issued a “hold (c)” rating for the company. Finally, DA Davidson boosted their target price on shares of Private Bancorp from $96.00 to $105.00 and gave the stock a “buy” rating in a report on Monday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.00.

Private Bancorp Stock Performance

NASDAQ:PBAM traded up $0.19 during mid-day trading on Wednesday, reaching $88.65. The stock had a trading volume of 7,748 shares, compared to its average volume of 7,722. Private Bancorp has a 12 month low of $54.45 and a 12 month high of $89.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $507.96 million, a price-to-earnings ratio of 11.51 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.