Zacks Investment Research Lowers Wintrust Financial Corporation (WTFC) to Hold
Zacks Investment Research cut shares of Wintrust Financial Corporation (NASDAQ:WTFC) from a buy rating to a hold rating in a report published on Tuesday 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. “
Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $82.00 target price on shares of Wintrust Financial Corporation in a report on Tuesday, August 22nd. ValuEngine raised shares of Wintrust Financial Corporation from a hold rating to a buy rating in a report on Saturday, August 12th. Royal Bank Of Canada reaffirmed a buy rating and issued a $84.00 target price on shares of Wintrust Financial Corporation in a report on Friday, September 8th. Stephens lowered shares of Wintrust Financial Corporation from an overweight rating to an equal weight rating in a report on Monday, July 10th. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $80.00 target price on shares of Wintrust Financial Corporation in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $80.88.
Wintrust Financial Corporation (NASDAQ WTFC) traded down 0.04% on Tuesday, hitting $73.68. 23,696 shares of the stock traded hands. The stock has a 50-day moving average of $72.50 and a 200-day moving average of $72.46. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 18.58 and a beta of 0.81. Wintrust Financial Corporation has a 12-month low of $51.66 and a 12-month high of $80.52.
Wintrust Financial Corporation (NASDAQ:WTFC) last announced its quarterly earnings results on Tuesday, July 18th. The bank reported $1.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.12. Wintrust Financial Corporation had a net margin of 19.24% and a return on equity of 9.15%. The firm had revenue of $294.38 million for the quarter, compared to analyst estimates of $279.69 million. During the same quarter in the previous year, the firm posted $0.90 EPS. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. Analysts forecast that Wintrust Financial Corporation will post $4.30 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Tuesday, August 8th. Wintrust Financial Corporation’s dividend payout ratio is currently 14.11%.
In other Wintrust Financial Corporation news, insider Edward J. Wehmer sold 29,779 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $76.89, for a total transaction of $2,289,707.31. Following the sale, the insider now owns 137,352 shares of the company’s stock, valued at approximately $10,560,995.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary D. Sweeney acquired 485 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were bought at an average cost of $77.12 per share, for a total transaction of $37,403.20. Following the acquisition, the director now owns 2,186 shares in the company, valued at $168,584.32. The disclosure for this purchase can be found here. 2.00% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Phocas Financial Corp. grew its holdings in Wintrust Financial Corporation by 4.7% during the 2nd quarter. Phocas Financial Corp. now owns 196,349 shares of the bank’s stock worth $15,009,000 after acquiring an additional 8,760 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Wintrust Financial Corporation by 531.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,334 shares of the bank’s stock worth $713,000 after acquiring an additional 7,856 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Wintrust Financial Corporation by 7.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 21,527 shares of the bank’s stock worth $1,646,000 after acquiring an additional 1,579 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Wintrust Financial Corporation by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 121,906 shares of the bank’s stock worth $9,318,000 after acquiring an additional 3,606 shares during the last quarter. Finally, State Street Corp grew its holdings in Wintrust Financial Corporation by 5.9% during the 2nd quarter. State Street Corp now owns 3,031,640 shares of the bank’s stock worth $231,743,000 after acquiring an additional 168,386 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.
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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