SunTrust Banks Reaffirms “Hold” Rating for Wintrust Financial (WTFC)
Wintrust Financial (NASDAQ:WTFC)‘s stock had its “hold” rating reiterated by research analysts at SunTrust Banks in a research note issued to investors on Wednesday. They currently have a $88.00 target price on the bank’s stock. SunTrust Banks’ target price would indicate a potential upside of 6.85% from the company’s previous close.
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Wintrust Financial from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $84.00 target price on shares of Wintrust Financial in a report on Friday, October 20th. Piper Jaffray Companies reiterated a “hold” rating and issued a $74.00 target price on shares of Wintrust Financial in a report on Friday, September 1st. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Wintrust Financial in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $82.50.
Wintrust Financial (WTFC) traded up $3.42 on Wednesday, reaching $82.36. 291,200 shares of the company were exchanged, compared to its average volume of 398,101. The firm has a market capitalization of $4,388.86, a price-to-earnings ratio of 18.82, a PEG ratio of 1.33 and a beta of 0.83. Wintrust Financial has a 52-week low of $64.14 and a 52-week high of $82.48. The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 0.40.
Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings results on Wednesday, October 18th. The bank reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $295.70 million for the quarter, compared to analyst estimates of $298.96 million. Wintrust Financial had a net margin of 19.74% and a return on equity of 9.32%. Wintrust Financial’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 earnings per share. equities analysts anticipate that Wintrust Financial will post 4.38 EPS for the current year.
In related news, insider Leona A. Gleason sold 8,441 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $80.78, for a total transaction of $681,863.98. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas P. Zidar sold 3,178 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $80.00, for a total transaction of $254,240.00. Following the sale, the insider now directly owns 31,239 shares in the company, valued at $2,499,120. The disclosure for this sale can be found here. Insiders sold a total of 44,500 shares of company stock worth $3,563,512 over the last three months. Insiders own 1.97% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in WTFC. Janus Henderson Group PLC purchased a new stake in Wintrust Financial during the 2nd quarter worth approximately $63,086,000. BlackRock Inc. increased its stake in Wintrust Financial by 6.3% during the 2nd quarter. BlackRock Inc. now owns 6,492,888 shares of the bank’s stock worth $496,316,000 after buying an additional 382,791 shares during the period. Prudential Financial Inc. grew its holdings in Wintrust Financial by 564.1% during the 2nd quarter. Prudential Financial Inc. now owns 443,557 shares of the bank’s stock worth $33,905,000 after acquiring an additional 376,766 shares in the last quarter. Northern Trust Corp grew its holdings in Wintrust Financial by 33.2% during the 2nd quarter. Northern Trust Corp now owns 1,403,270 shares of the bank’s stock worth $107,265,000 after acquiring an additional 349,965 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Wintrust Financial by 7.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,586,706 shares of the bank’s stock worth $350,607,000 after acquiring an additional 327,529 shares in the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.
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About Wintrust Financial
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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