Wintrust Financial Corporation (WTFC) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Wintrust Financial Corporation (NASDAQ:WTFC) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $79.00 price target on the bank’s stock.
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. “
WTFC has been the topic of several other research reports. BidaskClub downgraded Wintrust Financial Corporation from a sell rating to a strong sell rating in a research report on Friday, July 28th. ValuEngine raised Wintrust Financial Corporation from a hold rating to a buy rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $82.00 target price on shares of Wintrust Financial Corporation in a research report on Tuesday, August 22nd. Hovde Group reaffirmed a market perform rating and issued a $80.00 target price (up previously from $76.50) on shares of Wintrust Financial Corporation in a research report on Tuesday, August 8th. Finally, Stephens downgraded Wintrust Financial Corporation from an overweight rating to an equal weight rating in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $80.63.
Shares of Wintrust Financial Corporation (NASDAQ:WTFC) opened at 70.71 on Wednesday. Wintrust Financial Corporation has a 12 month low of $51.66 and a 12 month high of $80.52. The firm has a 50 day moving average price of $72.65 and a 200-day moving average price of $72.51. The company has a market cap of $3.95 billion, a P/E ratio of 17.83 and a beta of 0.81.
Wintrust Financial Corporation (NASDAQ:WTFC) last posted its earnings results on Tuesday, July 18th. The bank reported $1.11 EPS for the quarter, beating the 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 company had revenue of $294.38 million for the quarter, compared to the consensus estimate of $279.69 million. During the same quarter in the prior year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. Analysts anticipate that Wintrust Financial Corporation will post $4.30 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Tuesday, August 8th. Wintrust Financial Corporation’s dividend payout ratio (DPR) is currently 14.11%.
In related news, EVP David A. Dykstra sold 26,861 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 185,651 shares in the company, valued at $14,261,709.82. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Edward J. Wehmer sold 29,779 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $76.89, for a total value of $2,289,707.31. Following the completion of the sale, the insider now owns 137,352 shares of the company’s stock, valued at $10,560,995.28. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. bought a new stake in Wintrust Financial Corporation during the second quarter worth $121,000. Exane Derivatives bought a new stake in Wintrust Financial Corporation during the second quarter worth $128,000. Daiwa Securities Group Inc. bought a new stake in Wintrust Financial Corporation during the first quarter worth $187,000. Penserra Capital Management LLC bought a new stake in Wintrust Financial Corporation during the first quarter worth $193,000. Finally, Oppenheimer & Co. Inc. lifted its stake 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 purchasing 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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