Price Action Report: Could Porter Bancorp, Inc. See a Reversal After Breaking Its 52-Week High?

Price Action Report: Could Porter Bancorp, Inc. See a Reversal After Breaking Its 52 Week High?

The stock of Porter Bancorp, Inc. (NASDAQ:PBIB) hit a new 52-week high and has $2.75 target or 8.00% above today’s $2.55 share price. The 6 months bullish chart indicates low risk for the $83.76M company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $2.75 price target is reached, the company will be worth $6.70 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 54,099 shares traded hands or 3.78% up from the average. Porter Bancorp, Inc. (NASDAQ:PBIB) has risen 44.91% since April 26, 2016 and is uptrending. It has outperformed by 39.65% the S&P500.

Analysts await Porter Bancorp, Inc. (NASDAQ:PBIB) to report earnings on January, 25.

According to Zacks Investment Research, “PBI Bank, Inc. provide quality banking services, great rates and excellent customer service. We believe PBI Bank represents the future of banking and our growing customer base agrees. PBI Bank, Inc. is headquartered in Louisville, KY. They have many banking centers across Central Kentucky to serve our customers banking needs.”

Insitutional Activity: The institutional sentiment increased to 1.33 in 2016 Q2. Its up 0.58, from 0.75 in 2016Q1. The ratio is positive, as 3 funds sold all Porter Bancorp, Inc. shares owned while 1 reduced positions. 0 funds bought stakes while 3 increased positions. They now own 2.95 million shares or 6.41% less from 3.15 million shares in 2016Q1.
Clinton Inc accumulated 0.01% or 137,469 shares. Pnc Services Inc holds 0% or 12,432 shares in its portfolio. Blackrock Investment reported 1,405 shares or 0% of all its holdings. Natl Bank Of America De has invested 0% of its portfolio in Porter Bancorp, Inc. (NASDAQ:PBIB). Jpmorgan Chase &, a New York-based fund reported 1 shares. Blackrock Fund Advsr holds 0% or 22,608 shares in its portfolio. Blackrock Limited Liability Company owns 6,148 shares or 0% of their US portfolio. Vanguard Grp has 0% invested in the company for 57,339 shares. Earnest Prns has invested 0% of its portfolio in Porter Bancorp, Inc. (NASDAQ:PBIB). Patriot Ptnrs L P last reported 1.80 million shares in the company. The California-based California Pub Employees Retirement Systems has invested 0% in Porter Bancorp, Inc. (NASDAQ:PBIB). The Ontario – Canada-based Manufacturers Life Ins The has invested 0% in Porter Bancorp, Inc. (NASDAQ:PBIB). Rmb Mgmt Ltd Liability owns 886,164 shares or 0.07% of their US portfolio.

Insider Transactions: Since June 1, 2016, the stock had 2 insider buys, and 5 selling transactions for $618 net activity. 5,000 Porter Bancorp, Inc. (NASDAQ:PBIB) shares with value of $8,048 were sold by Bouvette Maria L. 15,000 shares were bought by Levy Michael Tyler, worth $24,716 on Thursday, August 25. 10,000 shares with value of $16,500 were bought by Satterthwaite Norman Marcus on Monday, August 1.

More notable recent Porter Bancorp, Inc. (NASDAQ:PBIB) news were published by: Businesswire.com which released: “Porter Bancorp, Inc. Appoints Two New Board Members” on September 23, 2015, also Businesswire.com with their article: “Porter Bancorp, Inc. Completes Debt for Equity Exchange” published on October 01, 2015, Streetinsider.com published: “Porter Bancorp (PBIB) Approves One-for-Five Reverse Stock Split” on November 28, 2016. More interesting news about Porter Bancorp, Inc. (NASDAQ:PBIB) were released by: Businesswire.com and their article: “Porter Bancorp, Inc. Adopts Tax Benefits Preservation Plan to Preserve Use of …” published on June 26, 2015 as well as Businesswire.com‘s news article titled: “John T. Taylor Named Porter Bancorp, Inc. CEO and PBI Bank Chairman” with publication date: November 21, 2013.

PBIB Company Profile

Porter Bancorp, Inc., incorporated on February 9, 1988, is a bank holding company. The Firm operates through its subsidiary, PBI Bank (the Bank). The Bank is a community bank with a range of commercial and personal banking products. It also offers a range of retail and commercial deposit products. In addition, it offers its clients drive-in banking facilities, automatic teller machines, night depository, personalized checks, credit cards, debit cards, Internet banking, mobile banking, treasury management services, remote deposit services, electronic funds transfers through automated clearing house (ACH) services, domestic and foreign wire transfers, cash management, vault services, and loan and deposit sweep accounts. The Firm operates banking offices in approximately 12 counties in Kentucky. The Company’s markets include metropolitan Louisville in Jefferson County and the surrounding counties of Henry and Bullitt. It serves south central Kentucky and southern Kentucky from banking offices in Butler, Green, Hart, Edmonson, Barren, Warren, Ohio and Daviess Counties.

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