Shares of Wintrust Financial Corp. (NASDAQ:WTFC) saw unusually-high trading volume on Monday following a better than expected earnings announcement. Approximately 196,654 shares were traded during trading, a decline of 4% from the previous session’s volume of 203,955 shares.The stock last traded at $54.27 and had previously closed at $54.17.
The company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.02. Wintrust Financial Corp. had a return on equity of 8.27% and a net margin of 16.55%. The firm had revenue of $271.24 million for the quarter, compared to the consensus estimate of $264.11 million. During the same period in the prior year, the business posted $0.69 earnings per share. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year.
WTFC has been the topic of several recent analyst reports. Zacks Investment Research downgraded Wintrust Financial Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 12th. Piper Jaffray Cos. reiterated a “neutral” rating and set a $53.00 target price (up from $52.00) on shares of Wintrust Financial Corp. in a research report on Sunday, July 24th. Finally, Hovde Group initiated coverage on Wintrust Financial Corp. in a research report on Wednesday, August 24th. They set a “market perform” rating and a $59.00 target price on the stock. Nine analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Wintrust Financial Corp. presently has an average rating of “Hold” and a consensus target price of $53.10.
In other news, insider Richard B. Murphy sold 1,293 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $52.71, for a total value of $68,154.03. Following the completion of the sale, the insider now owns 28,445 shares in the company, valued at $1,499,335.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake 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 period. Nisa Investment Advisors LLC raised its stake in shares of Wintrust Financial Corp. by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 51,550 shares of the company’s stock worth $2,629,000 after buying an additional 150 shares during the period. PineBridge Investments L.P. raised its stake in shares of Wintrust Financial Corp. by 4.1% in the second quarter. PineBridge Investments L.P. now owns 6,159 shares of the company’s stock worth $314,000 after buying an additional 241 shares during the period. Eagle Asset Management Inc. raised its stake in shares of Wintrust Financial Corp. by 0.8% in the second quarter. Eagle Asset Management Inc. now owns 29,713 shares of the company’s stock worth $1,515,000 after buying an additional 248 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Wintrust Financial Corp. by 6.2% in the second quarter. CIBC Asset Management Inc now owns 6,313 shares of the company’s stock worth $322,000 after buying an additional 369 shares during the period. Hedge funds and other institutional investors own 91.93% of the company’s stock.
The firm has a market capitalization of $2.80 billion, a PE ratio of 17.28 and a beta of 0.86. The firm’s 50 day moving average price is $55.21 and its 200 day moving average price is $52.01.
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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