Wintrust Financial Corporation (WTFC) Downgraded by Zacks Investment Research to “Hold”
Wintrust Financial Corporation (NASDAQ:WTFC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.
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 reiterated a “market perform” rating and issued a $80.00 price target (up from $76.50) on shares of Wintrust Financial Corporation in a report on Wednesday, August 2nd. ValuEngine upgraded Wintrust Financial Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $80.00 price target on shares of Wintrust Financial Corporation in a report on Friday, August 11th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $82.00 price target on shares of Wintrust Financial Corporation in a report on Tuesday, August 22nd. Finally, BidaskClub downgraded Wintrust Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $81.38.
Shares of Wintrust Financial Corporation (NASDAQ:WTFC) opened at $78.47 on Friday. Wintrust Financial Corporation has a 52 week low of $61.46 and a 52 week high of $82.16. The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $4,400.00, a P/E ratio of 18.79, a P/E/G ratio of 1.33 and a beta of 0.83.
Wintrust Financial Corporation (NASDAQ:WTFC) last posted its earnings results on Wednesday, October 18th. The bank reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Wintrust Financial Corporation had a return on equity of 9.32% and a net margin of 19.74%. The firm had revenue of $295.70 million for the quarter, compared to analyst estimates of $298.96 million. During the same quarter in the prior year, the company earned $0.92 EPS. Wintrust Financial Corporation’s revenue was up 9.0% on a year-over-year basis. equities analysts forecast that Wintrust Financial Corporation will post 4.38 earnings per share for the current year.
In related news, insider Leona A. Gleason sold 8,441 shares of the stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $80.78, for a total value of $681,863.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David A. Dykstra sold 22,476 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $79.86, for a total value of $1,794,933.36. Following the completion of the sale, the executive vice president now owns 188,604 shares of the company’s stock, valued at $15,061,915.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,500 shares of company stock valued at $3,563,512. 2.00% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of WTFC. LS Investment Advisors LLC boosted its position in Wintrust Financial Corporation by 8.3% in the 3rd quarter. LS Investment Advisors LLC now owns 1,898 shares of the bank’s stock valued at $105,000 after buying an additional 146 shares during the last quarter. Victory Capital Management Inc. boosted its position in Wintrust Financial Corporation by 77.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,277 shares of the bank’s stock valued at $116,000 after buying an additional 994 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in Wintrust Financial Corporation in the 2nd quarter valued at about $121,000. Exane Derivatives purchased a new position in Wintrust Financial Corporation in the 2nd quarter valued at about $128,000. Finally, First Mercantile Trust Co. purchased a new position in Wintrust Financial Corporation in the 3rd quarter valued at about $167,000. 91.11% of the stock is owned by institutional investors.
Wintrust Financial Corporation 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 offers community banking services to individuals, small to mid-sized businesses, local governmental units and institutional clients.
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