Zacks Investment Research Downgrades Wintrust Financial Corporation (WTFC) to Hold
Wintrust Financial Corporation (NASDAQ:WTFC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Several other analysts also recently commented on WTFC. Hovde Group reaffirmed a “market perform” rating and set a $80.00 price objective (up previously from $76.50) on shares of Wintrust Financial Corporation in a research note on Wednesday, August 2nd. ValuEngine raised Wintrust Financial Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Jefferies Group LLC reissued a “hold” rating and issued a $80.00 price target on shares of Wintrust Financial Corporation in a research note on Friday, August 11th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $82.00 price target on shares of Wintrust Financial Corporation in a research note on Tuesday, August 22nd. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $84.00 price target on shares of Wintrust Financial Corporation in a research note on Friday, September 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $80.88.
Wintrust Financial Corporation (WTFC) opened at 73.71 on Tuesday. The firm has a 50-day moving average price of $72.50 and a 200-day moving average price of $72.46. The stock has a market cap of $4.11 billion, a P/E ratio of 18.59 and a beta of 0.81. Wintrust Financial Corporation has a 52 week low of $51.66 and a 52 week high of $80.52.
Wintrust Financial Corporation (NASDAQ:WTFC) last issued its quarterly earnings data on Tuesday, July 18th. The bank reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.12. The business had revenue of $294.38 million for the quarter, compared to the consensus estimate of $279.69 million. Wintrust Financial Corporation had a return on equity of 9.15% and a net margin of 19.24%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. On average, equities research analysts predict that Wintrust Financial Corporation will post $4.30 EPS for the current year.
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In related news, Director Gary D. Sweeney acquired 485 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was bought at an average price of $77.12 per share, for a total transaction of $37,403.20. Following the acquisition, the director now directly owns 2,186 shares of the company’s stock, valued at $168,584.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David A. Dykstra sold 26,861 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $76.82, for a total value of $2,063,462.02. Following the completion of the transaction, the executive vice president now owns 185,651 shares of the company’s stock, valued at approximately $14,261,709.82. The disclosure for this sale can be found here. 1.97% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new position in shares of Wintrust Financial Corporation in the 2nd quarter valued at about $121,000. Exane Derivatives bought a new position in shares of Wintrust Financial Corporation in the 2nd quarter valued at about $128,000. Daiwa Securities Group Inc. bought a new position in shares of Wintrust Financial Corporation in the 1st quarter valued at about $187,000. Essex Investment Management Co. LLC bought a new position in shares of Wintrust Financial Corporation in the 2nd quarter valued at about $215,000. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Wintrust Financial Corporation by 3.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 2,956 shares of the bank’s stock valued at $204,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.
About Wintrust Financial Corporation
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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