Wintrust Financial Corp. (WTFC) Cut to Hold at Zacks Investment Research
Wintrust Financial Corp. (NASDAQ:WTFC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
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. “
Several other equities analysts also recently commented on the stock. Hovde Group started 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. Piper Jaffray Cos. reiterated 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. Raymond James Financial Inc. reiterated a “strong-buy” rating on shares of Wintrust Financial Corp. in a report on Friday, June 3rd. Finally, Sterne Agee CRT began coverage on shares of Wintrust Financial Corp. in a report on Sunday, June 12th. They set a “hold” rating on the stock. Nine investment 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. Wintrust Financial Corp. currently has a consensus rating of “Hold” and an average price target of $52.80.
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Wintrust Financial Corp. (NASDAQ:WTFC) opened at 54.95 on Thursday. The company has a 50-day moving average of $54.59 and a 200-day moving average of $50.76. Wintrust Financial Corp. has a one year low of $37.96 and a one year high of $56.03. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 17.54 and a beta of 1.01.
Wintrust Financial Corp. (NASDAQ:WTFC) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.86 by $0.04. Wintrust Financial Corp. had a net margin of 16.55% and a return on equity of 8.27%. During the same quarter in the prior year, the business posted $0.85 EPS. On average, equities analysts forecast that Wintrust Financial Corp. will post $3.60 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.87%. Wintrust Financial Corp.’s dividend payout ratio is presently 15.34%.
In other news, insider Richard B. Murphy sold 1,293 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $52.71, for a total transaction of $68,154.03. Following the transaction, the insider now directly owns 28,445 shares in the company, valued at $1,499,335.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in WTFC. BlackRock Inc. increased its position in Wintrust Financial Corp. by 28.0% in the first quarter. BlackRock Inc. now owns 8,144 shares of the company’s stock worth $361,000 after buying an additional 1,783 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Wintrust Financial Corp. by 22.7% in the second quarter. BNP Paribas Arbitrage SA now owns 34,262 shares of the company’s stock worth $1,747,000 after buying an additional 6,344 shares during the last quarter. BlackRock Group LTD boosted its stake in Wintrust Financial Corp. by 15.3% in the first quarter. BlackRock Group LTD now owns 88,047 shares of the company’s stock worth $3,904,000 after buying an additional 11,660 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in Wintrust Financial Corp. by 1.5% in the first quarter. Loomis Sayles & Co. L P now owns 422,224 shares of the company’s stock worth $18,721,000 after buying an additional 6,364 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in Wintrust Financial Corp. by 453.9% in the first quarter. Royal Bank of Canada now owns 5,694 shares of the company’s stock worth $252,000 after buying an additional 4,666 shares during the last quarter. Hedge funds and other institutional investors own 91.90% of the company’s stock.
Wintrust Financial Corp. 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 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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