Is it smart to be bullish on PrivateBancorp Inc (NASDAQ:PVTB)?
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Thus, let’s study the newest info surrounding PrivateBancorp Inc (NASDAQ:PVTB).
What does the smart money think about PrivateBancorp Inc (NASDAQ:PVTB)?
At Q2’s end, a total of 22 of the hedge funds we track were bullish in this stock, a change of 57% from one quarter earlier. With hedge funds’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their stakes meaningfully.
According to our 13F database, Basswood Capital, managed by Matthew Lindenbaum, holds the most valuable position in PrivateBancorp Inc (NASDAQ:PVTB). Basswood Capital has a $31 million position in the stock, comprising 2% of its 13F portfolio. On Basswood Capital’s heels is Donald Chiboucis of Columbus Circle Investors, with a $17.8 million position; 0.1% of its 13F portfolio is allocated to the stock. Some other hedge funds that hold long positions include John W. Rogers’s Ariel Investments, Jim Simons’s Renaissance Technologies and Glenn Russell Dubin’s Highbridge Capital Management.
As one would understandably expect, certain bigger names have been driving this bullishness. Basswood Capital, managed by Matthew Lindenbaum, initiated the largest position in PrivateBancorp Inc (NASDAQ:PVTB). Basswood Capital had 31 million invested in the company at the end of the quarter. Donald Chiboucis’s Columbus Circle Investors also made a $17.8 million investment in the stock during the quarter. The other funds with new positions in the stock are John W. Rogers’s Ariel Investments, Jim Simons’s Renaissance Technologies, and Glenn Russell Dubin’s Highbridge Capital Management.
What do corporate executives and insiders think about PrivateBancorp Inc (NASDAQ:PVTB)?
Legal insider trading, particularly when it’s bullish, is at its handiest when the company in focus has experienced transactions within the past six months. Over the latest half-year time frame, PrivateBancorp Inc (NASDAQ:PVTB) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to PrivateBancorp Inc (NASDAQ:PVTB). These stocks are Park National Corporation (NYSEAMEX:PRK), Firstmerit Corp (NASDAQ:FMER), MB Financial, Inc. (NASDAQ:MBFI), Wintrust Financial Corp (NASDAQ:WTFC), and Old National Bancorp (NYSE:ONB). All of these stocks are in the regional – midwest banks industry and their market caps match PVTB’s market cap.