Wintrust Financial Corp (WTFC) Upgraded to Buy at Zacks Investment Research
Wintrust Financial Corp (NASDAQ:WTFC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage currently has a $77.00 target price on the bank’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.61% from the company’s current price.
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 have also recently weighed in on the company. Keefe, Bruyette & Woods set a $72.00 price objective on Wintrust Financial Corp and gave the stock a “buy” rating in a research note on Thursday, April 6th. Jefferies Group LLC reissued a “hold” rating and set a $80.00 price objective on shares of Wintrust Financial Corp in a research note on Wednesday, April 5th. Finally, Hovde Group boosted their price objective on Wintrust Financial Corp from $74.00 to $76.50 and gave the stock a “market perform” rating in a research note on Tuesday, April 25th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $72.92.
Wintrust Financial Corp (NASDAQ:WTFC) opened at 68.99 on Friday. The stock has a market capitalization of $3.84 billion, a PE ratio of 18.35 and a beta of 0.89. Wintrust Financial Corp has a 12-month low of $46.62 and a 12-month high of $76.71. The stock has a 50 day moving average price of $69.89 and a 200-day moving average price of $69.50.
Wintrust Financial Corp (NASDAQ:WTFC) last issued its quarterly earnings data on Tuesday, April 18th. The bank reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.10. Wintrust Financial Corp had a return on equity of 8.80% and a net margin of 18.18%. The company had revenue of $261.35 million for the quarter, compared to analysts’ expectations of $268.40 million. During the same period in the previous year, the firm posted $0.90 earnings per share. On average, equities analysts anticipate that Wintrust Financial Corp will post $4.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, May 9th. This represents a $0.56 annualized dividend and a dividend yield of 0.81%. Wintrust Financial Corp’s dividend payout ratio (DPR) is presently 15.30%.
In other Wintrust Financial Corp news, Director Peter D. Crist sold 23,225 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $69.82, for a total transaction of $1,621,569.50. Following the completion of the transaction, the director now owns 73,550 shares in the company, valued at $5,135,261. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David L. Larson sold 1,519 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $73.20, for a total value of $111,190.80. Following the transaction, the insider now owns 6,574 shares of the company’s stock, valued at approximately $481,216.80. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Fund Management S.A. raised its position in shares of Wintrust Financial Corp by 86.0% in the third quarter. Capital Fund Management S.A. now owns 9,300 shares of the bank’s stock valued at $517,000 after buying an additional 4,300 shares during the period. Virginia Retirement Systems ET AL raised its position in shares of Wintrust Financial Corp by 72.2% in the third quarter. Virginia Retirement Systems ET AL now owns 27,900 shares of the bank’s stock valued at $1,550,000 after buying an additional 11,700 shares during the period. Blue Rock Advisors LLC acquired a new position in shares of Wintrust Financial Corp during the third quarter valued at about $452,000. California State Teachers Retirement System raised its position in shares of Wintrust Financial Corp by 7.3% in the third quarter. California State Teachers Retirement System now owns 109,099 shares of the bank’s stock valued at $6,063,000 after buying an additional 7,400 shares during the period. Finally, Emerald Acquisition Ltd. raised its position in shares of Wintrust Financial Corp by 27.0% in the third quarter. Emerald Acquisition Ltd. now owns 125,038 shares of the bank’s stock valued at $6,948,000 after buying an additional 26,596 shares during the period. Institutional investors and hedge funds own 93.59% of the company’s stock.
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 offers community banking services to individuals, small to mid-sized businesses, local governmental units and institutional clients.
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