Keefe, Bruyette & Woods Upgrades Wintrust Financial Corp. (WTFC) to Outperform
Wintrust Financial Corp. (NASDAQ:WTFC) was upgraded by Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report issued on Tuesday.
A number of other brokerages have also weighed in on WTFC. Zacks Investment Research upgraded Wintrust Financial Corp. from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Saturday, October 8th. Jefferies Group restated a “hold” rating and issued a $54.00 price objective on shares of Wintrust Financial Corp. in a report on Sunday, October 23rd. Finally, Hovde Group assumed coverage on Wintrust Financial Corp. in a report on Wednesday, August 24th. They issued a “market perform” rating and a $59.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.70.
Wintrust Financial Corp. (NASDAQ:WTFC) opened at 65.84 on Tuesday. The stock has a 50 day moving average of $57.50 and a 200-day moving average of $54.19. Wintrust Financial Corp. has a 12-month low of $37.96 and a 12-month high of $66.28. The company has a market capitalization of $3.41 billion, a PE ratio of 19.57 and a beta of 0.83.
Wintrust Financial Corp. (NASDAQ:WTFC) last released its quarterly earnings results on Monday, October 17th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Wintrust Financial Corp. had a net margin of 17.23% and a return on equity of 8.46%. The firm had revenue of $271.24 million for the quarter, compared to analysts’ expectations of $264.11 million. During the same quarter last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities analysts expect that Wintrust Financial Corp. will post $3.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Thursday, November 10th were issued a $0.12 dividend. The ex-dividend date was Tuesday, November 8th. This represents a $0.48 annualized dividend and a yield of 0.73%. Wintrust Financial Corp.’s dividend payout ratio (DPR) is currently 14.29%.
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In related news, Director Marla F. Glabe acquired 900 shares of Wintrust Financial Corp. stock in a transaction that occurred on Thursday, October 20th. The shares were purchased at an average cost of $55.00 per share, for a total transaction of $49,500.00. Following the acquisition, the director now owns 3,771 shares in the company, valued at $207,405. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David L. Stoehr sold 7,252 shares of the business’s stock in a transaction dated Thursday, October 20th. The shares were sold at an average price of $55.00, for a total transaction of $398,860.00. Following the completion of the sale, the insider now owns 8,038 shares in the company, valued at $442,090. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of WTFC. Foundry Partners LLC raised its stake in shares of Wintrust Financial Corp. by 4.9% in the third quarter. Foundry Partners LLC now owns 250,572 shares of the company’s stock valued at $13,924,000 after buying an additional 11,756 shares during the period. BNP Paribas Arbitrage SA increased its position in Wintrust Financial Corp. by 22.7% in the second quarter. BNP Paribas Arbitrage SA now owns 34,262 shares of the company’s stock valued at $1,747,000 after buying an additional 6,344 shares in the last quarter. Prudential Financial Inc. increased its position in Wintrust Financial Corp. by 12.2% in the second quarter. Prudential Financial Inc. now owns 207,517 shares of the company’s stock valued at $10,583,000 after buying an additional 22,630 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in Wintrust Financial Corp. during the second quarter valued at $826,000. Finally, Dimensional Fund Advisors LP increased its position in Wintrust Financial Corp. by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,989,202 shares of the company’s stock valued at $203,446,000 after buying an additional 46,930 shares in the last quarter. Hedge funds and other institutional investors own 92.22% of the company’s stock.
Wintrust Financial Corp. 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 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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