Wintrust Financial Corporation (NASDAQ:WTFC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $79.00 target price on the bank’s stock. Zacks Investment Research‘s price target points to a potential upside of 9.77% from the company’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. “
A number of other brokerages also recently weighed in on WTFC. Stephens downgraded shares of Wintrust Financial Corporation from an “overweight” rating to an “equal weight” rating in a report on Monday, July 10th. BidaskClub downgraded shares of Wintrust Financial Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Piper Jaffray Companies set a $72.00 price objective on shares of Wintrust Financial Corporation and gave the company a “hold” rating in a research note on Tuesday, July 18th. Jefferies Group LLC reissued a “hold” rating and issued a $80.00 price objective on shares of Wintrust Financial Corporation in a research note on Sunday, June 11th. Finally, Hovde Group restated a “market perform” rating and issued a $80.00 price target (up from $76.50) on shares of Wintrust Financial Corporation in a research report on Wednesday, August 2nd. One equities 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. Wintrust Financial Corporation currently has a consensus rating of “Hold” and an average target price of $80.63.
Shares of Wintrust Financial Corporation (WTFC) opened at 71.97 on Wednesday. Wintrust Financial Corporation has a 12-month low of $51.66 and a 12-month high of $80.52. The company has a market capitalization of $4.02 billion, a PE ratio of 18.15 and a beta of 0.81. The firm’s 50-day moving average is $73.26 and its 200-day moving average is $72.58.
Wintrust Financial Corporation (NASDAQ:WTFC) last posted its quarterly earnings data on Tuesday, July 18th. The bank reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.12. The firm had revenue of $294.38 million during the quarter, compared to the consensus estimate of $279.69 million. Wintrust Financial Corporation had a net margin of 19.24% and a return on equity of 9.15%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 EPS. On average, equities research analysts anticipate that Wintrust Financial Corporation will post $4.30 EPS for the current fiscal year.
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In related news, 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 transaction of $2,063,462.02. Following the transaction, the executive vice president now directly owns 185,651 shares of the company’s stock, valued at $14,261,709.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Wehmer sold 29,779 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $76.89, for a total transaction of $2,289,707.31. Following the sale, the insider now owns 137,352 shares of the company’s stock, valued at approximately $10,560,995.28. 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 bought and sold shares of the stock. Advisors Asset Management Inc. purchased a new stake in Wintrust Financial Corporation during the second quarter worth about $121,000. Exane Derivatives purchased a new stake in Wintrust Financial Corporation during the second quarter worth about $128,000. Daiwa Securities Group Inc. purchased a new stake in Wintrust Financial Corporation during the first quarter worth about $187,000. Penserra Capital Management LLC purchased a new stake in Wintrust Financial Corporation during the first quarter worth about $193,000. Finally, Oppenheimer & Co. Inc. increased its holdings in Wintrust Financial Corporation by 3.4% during the first quarter. Oppenheimer & Co. Inc. now owns 2,956 shares of the bank’s stock worth $204,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.
Wintrust Financial Corporation Company Profile
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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