PrivateBancorp Inc. (PVTB) reported a third quarter net loss available to common stockholders of $0.68 per share Monday morning, compared to a net loss available to common stockholders of $0.25 per share last year. The consensus estimate was for a profit of $0.08 per share.
The company also announced that it commenced an underwritten public offering of $175 million of its common stock.
PrivateBancorp gapped open sharply lower Monday and declined for the majority of the session. Shares finished down by $7.02 at $11.98 on the highest volume in over 5 months. The stock has been declining for the last week and a half and finished at a 7-month low.
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