Zacks Investment Research Upgrades Wintrust Financial Corp. (WTFC) to Buy
Wintrust Financial Corp. (NASDAQ:WTFC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The firm currently has a $63.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 12.44% from the company’s previous close.
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. “
A number of other analysts also recently weighed in on WTFC. Piper Jaffray Cos. started coverage on shares of Wintrust Financial Corp. in a research report on Friday, June 10th. They set a “neutral” rating and a $52.00 target price for the company. Sterne Agee CRT initiated coverage on Wintrust Financial Corp. in a report on Sunday, June 12th. They set a “hold” rating on the stock. Finally, Hovde Group initiated coverage on 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. Eight equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $53.10.
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Wintrust Financial Corp. (NASDAQ:WTFC) opened at 56.03 on Friday. The firm has a market capitalization of $2.90 billion, a P/E ratio of 17.88 and a beta of 0.86. Wintrust Financial Corp. has a one year low of $37.96 and a one year high of $56.61. The company’s 50-day moving average is $55.12 and its 200-day moving average is $51.66.
Wintrust Financial Corp. (NASDAQ:WTFC) last released its earnings results on Tuesday, July 19th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm posted $0.85 earnings per share. Equities analysts forecast that Wintrust Financial Corp. will post $3.60 earnings per share for the current fiscal year.
In related news, insider Richard B. Murphy sold 1,293 shares of the stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $52.71, for a total value of $68,154.03. Following the transaction, the insider now directly owns 28,445 shares in the company, valued at approximately $1,499,335.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. First Mercantile Trust Co. purchased a new position in shares of Wintrust Financial Corp. during the third quarter worth about $167,000. Foundry Partners LLC boosted its position in shares of Wintrust Financial Corp. by 4.9% in the third quarter. Foundry Partners LLC now owns 250,572 shares of the company’s stock valued at $13,924,000 after buying an additional 11,756 shares during the period. Mason Street Advisors LLC bought a new position in shares of Wintrust Financial Corp. during the second quarter valued at $515,000. Schwab Charles Investment Management Inc. boosted its position in shares of Wintrust Financial Corp. by 2.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 194,766 shares of the company’s stock valued at $9,934,000 after buying an additional 5,575 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Wintrust Financial Corp. by 28.4% in the second quarter. Stifel Financial Corp now owns 115,512 shares of the company’s stock valued at $5,891,000 after buying an additional 25,558 shares during the period. 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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