Wintrust Financial (WTFC) Lifted to Buy at Zacks Investment Research
Wintrust Financial (NASDAQ:WTFC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The brokerage currently has a $92.00 price target on the bank’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.46% from the company’s current price.
According to Zacks, “Wintrust Financial Corporation is a bank holding company which provides banking services, trust and investment services, commercial insurance premium financing, short-term accounts receivable financing, and certain administrative services. They provide community-oriented, personal and commercial banking services through their subsidiaries, Lake Forest Bank & Trust Company, Hinsdale Bank & Trust Company, North Shore Community Bank & Trust Company, Libertyville Bank & Trust Company, Barrington Bank & Trust Company, Crystal Lake Bank & Trust Company, and Northbrook Bank & Trust Company. “
A number of other research firms also recently commented on WTFC. BidaskClub raised shares of Wintrust Financial from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. ValuEngine raised shares of Wintrust Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. SunTrust Banks reaffirmed a “hold” rating and set a $88.00 price objective on shares of Wintrust Financial in a research note on Wednesday, November 29th. Royal Bank of Canada reaffirmed a “buy” rating and set a $84.00 price objective on shares of Wintrust Financial in a research note on Friday, October 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $90.00 price objective on shares of Wintrust Financial in a research note on Thursday, December 14th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $84.63.
Wintrust Financial (NASDAQ:WTFC) opened at $83.29 on Friday. Wintrust Financial has a one year low of $64.14 and a one year high of $86.80. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40. The company has a market cap of $4,657.85, a PE ratio of 19.97, a PEG ratio of 1.23 and a beta of 0.83.
Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. Wintrust Financial had a net margin of 19.74% and a return on equity of 9.32%. The company had revenue of $295.70 million during the quarter, compared to the consensus estimate of $298.96 million. During the same quarter in the prior year, the company posted $0.92 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. sell-side analysts forecast that Wintrust Financial will post 4.38 earnings per share for the current year.
In related news, insider Thomas P. Zidar sold 3,178 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $80.00, for a total transaction of $254,240.00. Following the completion of the sale, the insider now owns 31,239 shares of the company’s stock, valued at approximately $2,499,120. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ingrid S. Stafford sold 1,405 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $80.63, for a total transaction of $113,285.15. Following the sale, the director now directly owns 20,746 shares of the company’s stock, valued at approximately $1,672,749.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,500 shares of company stock valued at $3,563,512. Corporate insiders own 1.97% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of WTFC. Advisors Asset Management Inc. acquired a new stake in Wintrust Financial during the 2nd quarter worth approximately $121,000. Meeder Asset Management Inc. acquired a new stake in Wintrust Financial during the 3rd quarter worth approximately $183,000. Magnetar Financial LLC acquired a new stake in Wintrust Financial during the 3rd quarter worth approximately $204,000. Csenge Advisory Group acquired a new stake in Wintrust Financial during the 3rd quarter worth approximately $212,000. Finally, Adviser Investments LLC acquired a new stake in Wintrust Financial during the 3rd quarter worth approximately $214,000. 91.60% of the stock is owned by hedge funds and other institutional investors.
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Wintrust Financial Company Profile
Wintrust Financial Corporation is a financial holding company. The Company conducts its businesses through three segments: community banking, specialty finance and wealth management. The Company offers community banking services to individuals, small to mid-sized businesses, local governmental units and institutional clients.
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