Wintrust Financial Corp. (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 $63.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.44% from the stock’s previous close.
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. “
WTFC has been the subject of a number of other research reports. Sterne Agee CRT initiated coverage on Wintrust Financial Corp. in a report on Sunday, June 12th. They set a “hold” rating for the company. Hovde Group initiated coverage on Wintrust Financial Corp. in a report on Wednesday, August 24th. They set a “market perform” rating and a $59.00 target price for the company. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $53.00 target price (up previously from $52.00) on shares of Wintrust Financial Corp. in a report on Sunday, July 24th. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Wintrust Financial Corp. has an average rating of “Hold” and an average target price of $53.10.
Wintrust Financial Corp. (NASDAQ:WTFC) opened at 56.03 on Friday. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 17.88 and a beta of 0.86. Wintrust Financial Corp. has a 52 week low of $37.96 and a 52 week high of $56.61. The firm has a 50-day moving average of $55.12 and a 200 day moving average of $51.66.
Wintrust Financial Corp. (NASDAQ:WTFC) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.86 by $0.04. Wintrust Financial Corp. had a return on equity of 8.27% and a net margin of 16.55%. During the same period in the previous year, the business posted $0.85 earnings per share. On average, analysts anticipate that Wintrust Financial Corp. will post $3.60 EPS for the current year.
In related news, insider Richard B. Murphy sold 1,293 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $52.71, for a total transaction of $68,154.03. Following the transaction, the insider now directly owns 28,445 shares of the company’s stock, valued at approximately $1,499,335.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in WTFC. Victory Capital Management Inc. raised its position in shares of Wintrust Financial Corp. by 77.5% in the second quarter. Victory Capital Management Inc. now owns 2,277 shares of the company’s stock worth $116,000 after buying an additional 994 shares during the last quarter. First Mercantile Trust Co. acquired a new position in shares of Wintrust Financial Corp. during the third quarter worth about $167,000. PNC Financial Services Group Inc. raised its position in shares of Wintrust Financial Corp. by 3.3% in the second quarter. PNC Financial Services Group Inc. now owns 3,585 shares of the company’s stock worth $183,000 after buying an additional 116 shares during the last quarter. Commonwealth Equity Services Inc acquired a new position in shares of Wintrust Financial Corp. during the second quarter worth about $200,000. Finally, Shelton Capital Management acquired a new position in shares of Wintrust Financial Corp. during the second quarter worth about $207,000. 91.90% of the stock is currently owned by hedge funds and other institutional investors.
About Wintrust Financial Corp.
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 provides community-oriented, personal and commercial banking services to customers located in the Chicago metropolitan area and in southeastern Wisconsin through its banking subsidiaries (the banks).
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