Chicago banking gets downgrade at Sandler


Sandler O'Neill cashes in its chips on a trio of Chicago-area banks, removing Buy ratings on First Midwest Bancorp (FMBI -1.5%), MB Financial (MBFI -2.3%), and PrivateBancorp (PVTB -1.6%). All have have nice runs over the last year, with PVTB's 60% gain leading the way.

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