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Shares of PrivateBancorp Has Risen Above Previous 52-Week High

By Shiri Gupta

Shares of PrivateBancorp (NASDAQ:PVTB) traded today at $46.42, breaking its 52-week high. This new high was reached on below average trading volume as 61,000 shares traded hands, while the average 30-day volume is approximately 598,000 shares.

Over the past year, PrivateBancorp has traded in a range of $31.18 to $46.42 and is now at $46.37, 49% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

PrivateBancorp, Inc., is a diversified financial services company. The Company through its subsidiaries, delivers business and personal financial service to middle-market commercial and commercial real estate companies, as well as business owners, executives, entrepreneurs and wealthy families.

Based on a current price of $46.37, PrivateBancorp is currently 9.2% above its average consensus analyst price target of $42.10. PrivateBancorp shares have support at the 200-day moving average (MA) of $39.39 and additional support at the 50-day MA of $38.95.

SmarTrend recommended that subscribers consider buying shares of PrivateBancorp on June 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.02. Since that recommendation, shares of PrivateBancorp have risen 4.8%. We continue to monitor PVTB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows privatebancorp

Ticker(s): PVTB