Wintrust Financial Corporation (WTFC) Cut to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Wintrust Financial Corporation (NASDAQ:WTFC) from a buy rating to a hold rating in a research note published on Friday morning.
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. “
Several other analysts have also recently weighed in on WTFC. ValuEngine upgraded Wintrust Financial Corporation from a hold rating to a buy rating in a report on Friday, June 2nd. Jefferies Group LLC restated a hold rating and set a $80.00 price target on shares of Wintrust Financial Corporation in a report on Sunday, June 11th. Wedbush restated an outperform rating and set a $89.00 price target on shares of Wintrust Financial Corporation in a report on Tuesday, June 27th. Stephens cut Wintrust Financial Corporation from an overweight rating to an equal weight rating in a report on Monday, July 10th. Finally, BidaskClub cut Wintrust Financial Corporation from a hold rating to a sell rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $80.57.
Shares of Wintrust Financial Corporation (NASDAQ:WTFC) opened at 73.21 on Friday. Wintrust Financial Corporation has a one year low of $51.65 and a one year high of $80.52. The firm’s 50-day moving average is $74.38 and its 200-day moving average is $72.83. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 18.46 and a beta of 0.82.
Wintrust Financial Corporation (NASDAQ:WTFC) last released its earnings results 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. 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 for the quarter, compared to analysts’ expectations of $279.69 million. During the same quarter in the previous year, the business posted $0.90 earnings per share. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. Analysts expect that Wintrust Financial Corporation will post $4.30 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Tuesday, August 8th. Wintrust Financial Corporation’s dividend payout ratio (DPR) is currently 14.11%.
In other news, EVP David A. Dykstra sold 26,861 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $76.82, for a total transaction of $2,063,462.02. Following the sale, the executive vice president now directly owns 185,651 shares in the company, valued at $14,261,709.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary D. Sweeney purchased 485 shares of Wintrust Financial Corporation stock in a transaction dated Friday, July 21st. The shares were purchased at an average price of $77.12 per share, for a total transaction of $37,403.20. Following the completion of the acquisition, the director now owns 2,186 shares of the company’s stock, valued at approximately $168,584.32. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in WTFC. Advisors Asset Management Inc. bought a new stake in Wintrust Financial Corporation in the second quarter valued at approximately $121,000. Exane Derivatives bought a new stake in Wintrust Financial Corporation in the second quarter valued at approximately $128,000. Daiwa Securities Group Inc. bought a new stake in Wintrust Financial Corporation in the first quarter valued at approximately $187,000. Penserra Capital Management LLC bought a new stake in Wintrust Financial Corporation in the first quarter valued at approximately $193,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in Wintrust Financial Corporation by 3.4% in the first quarter. Oppenheimer & Co. Inc. now owns 2,956 shares of the bank’s stock valued at $204,000 after acquiring 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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