UPDATE: Keefe, Bruyette & Woods Reiterates Outperform Rating, Lowers PT on PrivateBancorp on Intact Growth Outlook

In a report published Tuesday, Keefe, Bruyette & Woods analyst Christopher McGratty reiterated an Outperform rating on PrivateBancorp PVTB, but lowered the price target from $37.00 to $36.00. In the report, Keefe, Bruyette & Woods noted, “Adjusted EPS of $0.50 hit consensus due to a stronger top line (12% LQA loan growth) and solid credit trends (5bps NCOs), although the NIM and expenses largely offset this.” PrivateBancorp closed on Friday at $30.92.