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Shares of PrivateBancorp Rise to a New 52-Week High

By Amy Schwartz

Shares of PrivateBancorp (NASDAQ:PVTB) traded at a new 52-week high today of $60.77. Approximately 69,000 shares have changed hands today, as compared to an average 30-day volume of 598,000 shares.

PrivateBancorp (NASDAQ:PVTB) is currently priced 10.0% above its average consensus analyst price target of $54.55. The stock should find initial support at its 200-day moving average (MA) of $39.39 and further support at its 50-day MA of $38.95.

Over the past year, PrivateBancorp has traded in a range of $31.18 to $60.77 and is now at $60.63, 94% 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.

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 37.5%. 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