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NEW YORK ( TheStreet) -- PrivateBancorp Inc (Nasdaq: PVTB) hit a new 52-week low Tuesday as it is currently trading at $7.42, below its previous 52-week low of $7.69 with 24,646 shares traded as of 9:35 a.m. ET. Average volume has been 719,400 shares over the past 30 days. PrivateBancorp has a market cap of $553.6 million and is part of the financial sector and banking industry. Shares are down 46.4% year to date as of the close of trading on Friday. PrivateBancorp, Inc. operates as the holding company for The PrivateBank and Trust Company that provides business and personal financial services to middle-market companies and business owners, executives, entrepreneurs, and families in the United States. The company has a P/E ratio of 20.8, below the average banking industry P/E ratio of 21.4 and above the S&P 500 P/E ratio of 17.7.