Wintrust Financial (NASDAQ:WTFC) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Wintrust Financial (NASDAQ:WTFC) from a hold rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other research analysts also recently issued reports on WTFC. Weiss Ratings restated a “buy (b)” rating on shares of Wintrust Financial in a report on Monday, June 29th. Capital One Financial set a $170.00 price objective on Wintrust Financial in a report on Tuesday, July 21st. Truist Financial lifted their price objective on Wintrust Financial from $170.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Raymond James Financial began coverage on Wintrust Financial in a research note on Tuesday, July 7th. They set an “outperform” rating and a $180.00 target price on the stock. Finally, Piper Sandler set a $186.00 target price on Wintrust Financial in a report on Wednesday, July 22nd. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $177.77.

Wintrust Financial Trading Up 0.9%

Shares of WTFC opened at $152.16 on Friday. The stock has a market capitalization of $10.27 billion, a P/E ratio of 12.22 and a beta of 0.84. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $157.84 and a two-hundred day simple moving average of $150.99. Wintrust Financial has a twelve month low of $119.61 and a twelve month high of $167.21.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings data on Monday, July 20th. The bank reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.15. The firm had revenue of $738.63 million for the quarter, compared to analysts’ expectations of $735.36 million. Wintrust Financial had a net margin of 20.72% and a return on equity of 13.37%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.78 earnings per share. On average, research analysts anticipate that Wintrust Financial will post 13.04 EPS for the current year.

Wintrust Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, August 6th. Wintrust Financial’s dividend payout ratio is presently 17.67%.

Insider Buying and Selling

In other Wintrust Financial news, COO David Dykstra sold 13,515 shares of Wintrust Financial stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $162.77, for a total transaction of $2,199,836.55. Following the sale, the chief operating officer directly owned 166,449 shares of the company’s stock, valued at approximately $27,092,903.73. The trade was a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wintrust Financial

A number of institutional investors have recently added to or reduced their stakes in WTFC. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Wintrust Financial during the 2nd quarter valued at about $27,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Wintrust Financial in the 2nd quarter worth approximately $36,000. Elyxium Wealth LLC purchased a new stake in shares of Wintrust Financial in the 4th quarter worth approximately $31,000. Creative Financial Designs Inc. ADV increased its position in Wintrust Financial by 231.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank’s stock valued at $32,000 after buying an additional 160 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new position in Wintrust Financial during the 1st quarter valued at approximately $27,000. Institutional investors own 93.48% of the company’s stock.

About Wintrust Financial

Wintrust Financial Corporation (NASDAQ: WTFC) is a financial services company and bank holding company headquartered in Rosemont, Illinois. Founded in 1991, the company operates a network of community banks that serve individuals, families, businesses and institutions.

Wintrust’s banking operations provide deposit accounts, commercial and consumer lending, mortgage financing, treasury management, payment services and other traditional banking products. Through specialized subsidiaries and affiliated businesses, the company also offers wealth management, investment services, insurance premium financing, equipment leasing and related financial solutions.

The company primarily serves communities in the greater Chicago metropolitan area and has expanded its banking presence into surrounding Midwestern markets, including parts of Wisconsin and Indiana.