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 report released on Saturday. The firm currently has a $63.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 12.44% from the stock’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. “
WTFC has been the subject of several other reports. Hovde Group began coverage on Wintrust Financial Corp. in a research note on Wednesday, August 24th. They issued a “market perform” rating and a $59.00 price objective for the company. Piper Jaffray Cos. began coverage on Wintrust Financial Corp. in a research note on Friday, June 10th. They issued a “neutral” rating and a $52.00 price objective for the company. Finally, Sterne Agee CRT began coverage on Wintrust Financial Corp. in a research note on Sunday, June 12th. They issued a “hold” rating for the company. Eight equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $53.10.
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Wintrust Financial Corp. (NASDAQ:WTFC) opened at 56.03 on Friday. The company’s 50-day moving average price is $55.12 and its 200 day moving average price is $51.66. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 17.88 and a beta of 0.86. Wintrust Financial Corp. has a 52-week low of $37.96 and a 52-week high of $56.61.
Wintrust Financial Corp. (NASDAQ:WTFC) last announced its 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 return on equity of 8.27% and a net margin of 16.55%. During the same quarter in the prior year, the business earned $0.85 earnings per share. Equities research analysts predict that Wintrust Financial Corp. will post $3.60 earnings per share for the current year.
In other news, insider Richard B. Murphy sold 1,293 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $52.71, for a total transaction of $68,154.03. Following the transaction, the insider now owns 28,445 shares of the company’s stock, valued at approximately $1,499,335.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in shares of Wintrust Financial Corp. by 77.5% in the second quarter. Victory Capital Management Inc. now owns 2,277 shares of the company’s stock worth $116,000 after buying an additional 994 shares in the last quarter. First Mercantile Trust Co. bought a new position in shares of Wintrust Financial Corp. during the third quarter worth approximately $167,000. PNC Financial Services Group Inc. raised its position in shares of Wintrust Financial Corp. by 3.3% in the second quarter. PNC Financial Services Group Inc. now owns 3,585 shares of the company’s stock worth $183,000 after buying an additional 116 shares in the last quarter. Commonwealth Equity Services Inc bought a new position in shares of Wintrust Financial Corp. during the second quarter worth approximately $200,000. Finally, Shelton Capital Management bought a new position in shares of Wintrust Financial Corp. during the second quarter worth approximately $207,000. 91.90% of the stock is currently owned by institutional investors and hedge funds.
About Wintrust Financial Corp.
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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