Wintrust Financial Corp (NASDAQ:WTFC) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 959,300 shares, a drop of 20.6% from the May 30th total of 1,208,400 shares. Based on an average trading volume of 364,100 shares, the short-interest ratio is currently 2.6 days. Approximately 1.7% of the shares of the company are sold short.
Hedge funds have recently made changes to their positions in the company. NumerixS Investment Technologies Inc bought a new stake in shares of Wintrust Financial during the 1st quarter valued at $88,000. Quantamental Technologies LLC grew its stake in Wintrust Financial by 196.8% during the first quarter. Quantamental Technologies LLC now owns 1,466 shares of the bank’s stock valued at $99,000 after acquiring an additional 972 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Wintrust Financial during the fourth quarter valued at $128,000. First Manhattan Co. purchased a new position in Wintrust Financial during the first quarter valued at $201,000. Finally, Gideon Capital Advisors Inc. purchased a new position in Wintrust Financial during the fourth quarter valued at $233,000. Hedge funds and other institutional investors own 88.91% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Friday, July 5th. Piper Jaffray Companies set a $92.00 price target on shares of Wintrust Financial and gave the stock a “buy” rating in a research report on Monday. BidaskClub downgraded shares of Xilinx from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. Wedbush reiterated a “hold” rating and issued a $9.00 price target on shares of Glu Mobile in a research report on Tuesday, May 7th. Finally, Jefferies Financial Group increased their price target on shares of T. Rowe Price Group from $103.00 to $119.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Wintrust Financial has a consensus rating of “Hold” and a consensus price target of $92.00.
Shares of WTFC stock traded up $0.40 on Thursday, hitting $71.17. 826,100 shares of the stock traded hands, compared to its average volume of 414,320. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 0.82 and a beta of 1.04. Wintrust Financial has a 52 week low of $61.53 and a 52 week high of $92.56. The business has a 50 day moving average price of $71.64. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.41.
Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings data on Monday, April 15th. The bank reported $1.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.01). The firm had revenue of $343.64 million for the quarter, compared to the consensus estimate of $345.03 million. Wintrust Financial had a net margin of 21.95% and a return on equity of 11.28%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 earnings per share. Analysts forecast that Wintrust Financial will post 6.6 earnings per share for the current fiscal year.
About Wintrust Financial
Wintrust Financial Corporation operates as a financial holding company in the Chicago metropolitan area, southern Wisconsin, and northwest Indiana. It operates in three segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment offers non-interest bearing deposits, non-brokered interest-bearing transaction accounts, and savings and domestic time deposits; home equity, consumer, and real estate loans; safe deposit facilities; and automatic teller machine (ATM), Internet banking, and other services.
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