Wintrust Financial Corp. (WTFC) Posts Earnings Results
Wintrust Financial Corp. (NASDAQ:WTFC) posted its quarterly earnings data on Monday. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Wintrust Financial Corp. had a net margin of 16.55% and a return on equity of 8.27%. The firm had revenue of $271.24 million for the quarter, compared to analysts’ expectations of $264.11 million. During the same period in the previous year, the company posted $0.69 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year.
Shares of Wintrust Financial Corp. (NASDAQ:WTFC) opened at 54.51 on Wednesday. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 17.40 and a beta of 0.86. The company has a 50 day moving average of $55.15 and a 200 day moving average of $52.27. Wintrust Financial Corp. has a 1-year low of $37.96 and a 1-year high of $56.68.
WTFC has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Wintrust Financial Corp. from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Tuesday, August 16th. Hovde Group initiated coverage on shares of Wintrust Financial Corp. in a report on Wednesday, August 24th. They set a “market perform” rating and a $59.00 price target on the stock. Finally, Piper Jaffray Cos. restated a “neutral” rating and set a $53.00 price target (up from $52.00) on shares of Wintrust Financial Corp. in a report on Sunday, July 24th. Nine equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $53.10.
In other Wintrust Financial Corp. news, insider Richard B. Murphy sold 1,293 shares of the stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $52.71, for a total value of $68,154.03. Following the sale, the insider now directly owns 28,445 shares in the company, valued at $1,499,335.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in Wintrust Financial Corp. by 77.5% in the second quarter. Victory Capital Management Inc. now owns 2,277 shares of the company’s stock valued at $116,000 after buying an additional 994 shares during the period. First Mercantile Trust Co. purchased a new stake in Wintrust Financial Corp. during the third quarter valued at $167,000. PNC Financial Services Group Inc. raised its stake in Wintrust Financial Corp. by 3.3% in the second quarter. PNC Financial Services Group Inc. now owns 3,585 shares of the company’s stock valued at $183,000 after buying an additional 116 shares during the period. Commonwealth Equity Services Inc purchased a new stake in Wintrust Financial Corp. during the second quarter valued at $200,000. Finally, Shelton Capital Management purchased a new stake in Wintrust Financial Corp. during the second quarter valued at $207,000. Institutional investors own 91.93% of the company’s stock.
About Wintrust Financial Corp.
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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