Market Overview

UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on PrivateBancorp

Share:
Related PVTB
KBW Says These Community Banks Could Challenge The Big Guys
Wells Fargo Underestimated These 10 Companies
26 Stocks For September 2015 (Seeking Alpha)

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on PrivateBancorp (NASDAQ: PVTB), but lowered its price target from $18.00 to $16.00.

Jefferies noted, “Post meetings with CFO Kevin Killips, we cut our 2013 EPS estimate a dime to $1.15 due primarily to a weaker NIM forecast. Despite a tougher rev. outlook, there is little opportunity for expense leverage leaving credit recovery, which is slowing, as the only positive EPS driver. At 1.1x book, downside is limited, but stock is vulnerable to some near-term underperformance until NIM forecasts are revised lower.”

PrivateBancorp closed on Tuesday at $15.60.

Latest Ratings for PVTB

DateFirmActionFromTo
Jul 2015Keefe Bruyette & WoodsMaintainsMarket Perform
May 2015MacquarieDowngradesOutperformNeutral
Apr 2015SunTrust Robinson HumphreyMaintainsNeutral

View More Analyst Ratings for PVTB
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

Related Articles (PVTB)

Get Benzinga's Newsletters