Wintrust Financial Corporation (WTFC) Earns Market Perform Rating from Hovde Group
Hovde Group reaffirmed their market perform rating on shares of Wintrust Financial Corporation (NASDAQ:WTFC) in a report issued on Tuesday. They currently have a $80.00 price target on the bank’s stock, up from their previous price target of $76.50.
WTFC has been the subject of a number of other reports. ValuEngine raised Wintrust Financial Corporation from a hold rating to a buy rating in a report on Friday, June 2nd. Jefferies Group LLC reaffirmed a hold rating and set a $80.00 price target on shares of Wintrust Financial Corporation in a report on Sunday, June 11th. Zacks Investment Research raised Wintrust Financial Corporation from a hold rating to a buy rating and set a $79.00 price target for the company in a report on Wednesday, June 7th. Stephens cut Wintrust Financial Corporation from an overweight rating to an equal weight rating in a report on Monday, July 10th. Finally, Wedbush reissued an outperform rating and issued a $89.00 target price on shares of Wintrust Financial Corporation in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $78.71.
Shares of Wintrust Financial Corporation (NASDAQ WTFC) traded down 1.11% on Tuesday, reaching $72.19. The company’s stock had a trading volume of 177,071 shares. The stock has a 50-day moving average of $76.00 and a 200 day moving average of $72.77. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 18.21 and a beta of 0.81. Wintrust Financial Corporation has a 52 week low of $51.66 and a 52 week high of $80.52.
Wintrust Financial Corporation (NASDAQ:WTFC) last released its quarterly earnings results on Tuesday, July 18th. The bank reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.12. Wintrust Financial Corporation had a return on equity of 9.15% and a net margin of 19.24%. The firm had revenue of $294.38 million during the quarter, compared to analysts’ expectations of $279.69 million. During the same period last year, the firm posted $0.90 EPS. The business’s revenue was up 13.2% on a year-over-year basis. On average, analysts expect that Wintrust Financial Corporation will post $4.30 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a $0.14 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.56 annualized dividend and a dividend yield of 0.78%. Wintrust Financial Corporation’s dividend payout ratio is currently 14.11%.
In other news, insider Edward J. Wehmer sold 29,779 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $76.89, for a total value of $2,289,707.31. Following the transaction, the insider now directly owns 137,352 shares in the company, valued at approximately $10,560,995.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David A. Dykstra sold 26,861 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $76.82, for a total value of $2,063,462.02. Following the completion of the transaction, the executive vice president now owns 185,651 shares in the company, valued at $14,261,709.82. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Wintrust Financial Corporation by 6.3% in the second quarter. BlackRock Inc. now owns 6,492,888 shares of the bank’s stock valued at $496,316,000 after buying an additional 382,791 shares in the last quarter. Vanguard Group Inc. raised its position in Wintrust Financial Corporation by 7.7% in the second quarter. Vanguard Group Inc. now owns 4,586,706 shares of the bank’s stock valued at $350,607,000 after buying an additional 327,529 shares in the last quarter. State Street Corp raised its position in Wintrust Financial Corporation by 57.1% in the first quarter. State Street Corp now owns 2,863,254 shares of the bank’s stock valued at $197,915,000 after buying an additional 1,040,715 shares in the last quarter. JPMorgan Chase & Co. raised its position in Wintrust Financial Corporation by 189.4% in the first quarter. JPMorgan Chase & Co. now owns 1,610,423 shares of the bank’s stock valued at $111,312,000 after buying an additional 1,053,900 shares in the last quarter. Finally, Northern Trust Corp raised its position in Wintrust Financial Corporation by 33.2% in the second quarter. Northern Trust Corp now owns 1,403,270 shares of the bank’s stock valued at $107,265,000 after buying an additional 349,965 shares in the last quarter. Institutional investors and hedge funds own 89.70% of the company’s stock.
About Wintrust Financial Corporation
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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