Zacks Investment Research downgraded shares of Wintrust Financial Corporation (NASDAQ:WTFC) from a buy rating to a hold rating in a report published on Friday morning.
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 brokerages have also recently commented on WTFC. Piper Jaffray Companies set a $72.00 price target on Wintrust Financial Corporation and gave the stock a hold rating in a research report on Tuesday, July 18th. ValuEngine raised Wintrust Financial Corporation from a hold rating to a buy rating in a research report on Saturday, August 12th. BidaskClub cut Wintrust Financial Corporation from a hold rating to a sell rating in a research report on Wednesday, July 19th. Hovde Group reaffirmed a market perform rating and set a $80.00 price target (up previously from $76.50) on shares of Wintrust Financial Corporation in a research report on Wednesday, August 2nd. Finally, Wedbush reaffirmed an outperform rating and set a $89.00 price target on shares of Wintrust Financial Corporation in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Wintrust Financial Corporation currently has a consensus rating of Hold and a consensus price target of $81.00.
Shares of Wintrust Financial Corporation (NASDAQ WTFC) opened at 68.36 on Friday. The company’s 50-day moving average price is $73.43 and its 200-day moving average price is $72.66. Wintrust Financial Corporation has a 52-week low of $51.65 and a 52-week high of $80.52. The stock has a market cap of $3.82 billion, a PE ratio of 17.24 and a beta of 0.81.
Wintrust Financial Corporation (NASDAQ:WTFC) last issued its quarterly earnings results on Tuesday, July 18th. The bank reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.12. Wintrust Financial Corporation had a return on equity of 9.15% and a net margin of 19.24%. The company had revenue of $294.38 million during the quarter, compared to analysts’ expectations of $279.69 million. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. On average, equities research analysts forecast that Wintrust Financial Corporation will post $4.30 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were paid a $0.14 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $0.56 annualized dividend and a dividend yield of 0.82%. Wintrust Financial Corporation’s dividend payout ratio is presently 14.11%.
In related news, insider Edward J. Wehmer sold 29,779 shares of Wintrust Financial Corporation stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $76.89, for a total value of $2,289,707.31. Following the completion of the transaction, the insider now owns 137,352 shares in the company, valued at approximately $10,560,995.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gary D. Sweeney purchased 485 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was acquired at an average price of $77.12 per share, with a total value of $37,403.20. Following the purchase, the director now owns 2,186 shares in the company, valued at $168,584.32. The disclosure for this purchase can be found here. 2.00% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new position in shares of Wintrust Financial Corporation in the 2nd quarter valued at about $121,000. Exane Derivatives purchased a new position in shares of Wintrust Financial Corporation in the 2nd quarter valued at about $128,000. Daiwa Securities Group Inc. purchased a new position in shares of Wintrust Financial Corporation in the 1st quarter valued at about $187,000. Penserra Capital Management LLC purchased a new position in shares of Wintrust Financial Corporation in the 1st quarter valued at about $193,000. Finally, Oppenheimer & Co. Inc. increased its stake 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 purchasing an additional 96 shares in the last quarter. Hedge funds and other 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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