Wintrust Financial Corp. (WTFC) Issues Earnings Results
Wintrust Financial Corp. (NASDAQ:WTFC) posted its quarterly earnings data on Monday. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Wintrust Financial Corp. had a net margin of 16.55% and a return on equity of 8.27%. The company earned $271.24 million during the quarter, compared to analyst estimates of $264.11 million. During the same period in the prior year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up 17.7% on a year-over-year basis.
Shares of Wintrust Financial Corp. (NASDAQ:WTFC) traded down 0.07% during trading on Monday, reaching $54.13. 359,824 shares of the company traded hands. The stock has a market cap of $2.80 billion, a P/E ratio of 17.28 and a beta of 0.86. Wintrust Financial Corp. has a 12 month low of $37.96 and a 12 month high of $56.68. The stock’s 50 day moving average price is $55.21 and its 200-day moving average price is $52.01.
In related news, insider Richard B. Murphy sold 1,293 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $52.71, for a total transaction of $68,154.03. Following the completion of the sale, the insider now owns 28,445 shares of the company’s stock, valued at $1,499,335.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.
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A number of large investors have recently added to or reduced their stakes in WTFC. BlackRock Fund Advisors boosted its stake in Wintrust Financial Corp. by 8.3% in the second quarter. BlackRock Fund Advisors now owns 3,365,629 shares of the company’s stock valued at $171,647,000 after buying an additional 258,723 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Wintrust Financial Corp. by 6.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,712,718 shares of the company’s stock valued at $87,349,000 after buying an additional 103,103 shares in the last quarter. Teachers Advisors Inc. boosted its stake in Wintrust Financial Corp. by 116.3% in the second quarter. Teachers Advisors Inc. now owns 554,780 shares of the company’s stock valued at $28,294,000 after buying an additional 298,244 shares in the last quarter. FMR LLC boosted its stake in Wintrust Financial Corp. by 28.9% in the second quarter. FMR LLC now owns 368,375 shares of the company’s stock valued at $18,787,000 after buying an additional 82,499 shares in the last quarter. Finally, BlackRock Investment Management LLC boosted its stake in Wintrust Financial Corp. by 11.2% in the second quarter. BlackRock Investment Management LLC now owns 222,201 shares of the company’s stock valued at $11,332,000 after buying an additional 22,398 shares in the last quarter. 91.93% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on WTFC shares. Zacks Investment Research lowered shares of Wintrust Financial Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, October 12th. Piper Jaffray Cos. reissued a “neutral” rating and issued a $53.00 price target (up from $52.00) on shares of Wintrust Financial Corp. in a research report on Sunday, July 24th. Finally, Hovde Group began coverage on shares of Wintrust Financial Corp. in a research report on Wednesday, August 24th. They issued a “market perform” rating and a $59.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.10.
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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