Wintrust Financial (WTFC) Hits New 1-Year High and Low After Strong Earnings
Wintrust Financial Co. (NASDAQ:WTFC) shares reached a new 52-week high and low during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as low as $92.00 and last traded at $91.38, with a volume of 254132 shares. The stock had previously closed at $89.14.
The bank reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.12. The firm had revenue of $310.76 million for the quarter, compared to analyst estimates of $302.62 million. Wintrust Financial had a return on equity of 9.49% and a net margin of 20.35%. Wintrust Financial’s revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share.
WTFC has been the topic of a number of research analyst reports. BidaskClub raised Wintrust Financial from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. FIG Partners lowered Wintrust Financial from an “outperform” rating to a “market perform” rating in a report on Monday, March 12th. UBS initiated coverage on Wintrust Financial in a report on Thursday, March 22nd. They set a “neutral” rating and a $93.00 target price on the stock. Piper Jaffray reaffirmed a “hold” rating and set a $86.00 target price on shares of Wintrust Financial in a report on Tuesday, January 9th. Finally, Zacks Investment Research lowered Wintrust Financial from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $92.20.
A number of large investors have recently added to or reduced their stakes in WTFC. Cerebellum GP LLC purchased a new position in Wintrust Financial during the 4th quarter valued at about $126,000. Trust Co. of Toledo NA OH purchased a new position in Wintrust Financial during the 4th quarter valued at about $200,000. Magnetar Financial LLC purchased a new position in Wintrust Financial during the 3rd quarter valued at about $204,000. Brown Advisory Inc. purchased a new position in Wintrust Financial during the 4th quarter valued at about $213,000. Finally, Castleark Management LLC purchased a new position in Wintrust Financial during the 4th quarter valued at about $231,000. 90.94% of the stock is currently owned by institutional investors.
The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. The company has a market cap of $4,939.32, a price-to-earnings ratio of 20.26, a PEG ratio of 1.17 and a beta of 0.83.
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Wintrust Financial Company Profile
Wintrust Financial Corporation operates as a financial holding company in the Chicago metropolitan area, southern Wisconsin, and northwest Indiana. It operates in three segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment offers non-interest bearing deposits, non-brokered interest-bearing transaction accounts, and savings and domestic time deposits; home equity, consumer, and real estate loans; safe deposit facilities; and automatic teller machine (ATM), Internet banking, and other services.
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