Wintrust Financial Corp. (WTFC) Downgraded by Zacks Investment Research to Hold
Wintrust Financial Corp. (NASDAQ:WTFC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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 research analysts also recently weighed in on WTFC. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $53.00 price objective (up previously from $52.00) on shares of Wintrust Financial Corp. in a report on Sunday, July 24th. Hovde Group initiated coverage on shares of Wintrust Financial Corp. in a report on Wednesday, August 24th. They issued a “market perform” rating and a $59.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $53.10.
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Wintrust Financial Corp. (NASDAQ:WTFC) traded down 0.38% during midday trading on Wednesday, reaching $55.56. 123,809 shares of the company were exchanged. The firm’s 50-day moving average price is $55.22 and its 200 day moving average price is $51.89. Wintrust Financial Corp. has a 52-week low of $37.96 and a 52-week high of $56.68. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 17.73 and a beta of 0.86.
Wintrust Financial Corp. (NASDAQ:WTFC) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.90 earnings per share for the quarter, topping 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 period in the prior year, the company earned $0.85 earnings per share. Equities analysts predict that Wintrust Financial Corp. will post $3.60 earnings per share for the current year.
In other Wintrust Financial Corp. news, insider Richard B. Murphy sold 1,293 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $52.71, for a total value of $68,154.03. Following the completion of the sale, the insider now directly owns 28,445 shares of the company’s stock, valued at approximately $1,499,335.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Mesirow Financial Investment Management Equity Management increased its stake in shares of Wintrust Financial Corp. by 2,795.0% in the second quarter. Mesirow Financial Investment Management Equity Management now owns 473,107 shares of the company’s stock worth $24,130,000 after buying an additional 456,765 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Wintrust Financial Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 4,042,961 shares of the company’s stock worth $206,191,000 after buying an additional 382,273 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of Wintrust Financial Corp. by 116.3% in the second quarter. Teachers Advisors Inc. now owns 554,780 shares of the company’s stock worth $28,294,000 after buying an additional 298,244 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Wintrust Financial Corp. by 8.3% in the second quarter. BlackRock Fund Advisors now owns 3,365,629 shares of the company’s stock worth $171,647,000 after buying an additional 258,723 shares during the last quarter. Finally, Foundry Partners LLC acquired a new stake in shares of Wintrust Financial Corp. during the second quarter worth $12,180,000. 91.90% of the stock is owned by institutional investors.
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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