Trade Report: Today, Zacks Investment Research Downgrades Wintrust Financial Corp. (WTFC) to Hold

Today, Zacks Investment Research Downgrades Wintrust Financial Corp. (WTFC) to Hold

Zacks Investment Research cut shares of Wintrust Financial Corp. (NASDAQ:WTFC) from a buy rating to a hold rating in a report released on Wednesday morning.

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. Hovde Group initiated coverage on Wintrust Financial Corp. in a research note on Wednesday, August 24th. They set a market perform rating and a $59.00 target price for the company. Piper Jaffray Cos. restated a neutral rating and set a $53.00 target price (up previously from $52.00) on shares of Wintrust Financial Corp. in a research note on Sunday, July 24th. Nine research 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’s stock. The company presently has a consensus rating of Hold and an average price target of $53.10.

Shares of Wintrust Financial Corp. (NASDAQ:WTFC) opened at 54.13 on Wednesday. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 17.28 and a beta of 0.86. The firm has a 50-day moving average price of $55.18 and a 200 day moving average price of $52.20. Wintrust Financial Corp. has a 52-week low of $37.96 and a 52-week high of $56.68.

Wintrust Financial Corp. (NASDAQ:WTFC) last posted its earnings results on Monday, October 17th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm earned $271.24 million during the quarter, compared to analysts’ expectations of $264.11 million. Wintrust Financial Corp. had a return on equity of 8.27% and a net margin of 16.55%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. Analysts expect that Wintrust Financial Corp. will post $3.60 earnings per share for the current year.

In other news, insider Richard B. Murphy sold 1,293 shares of the business’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 value of $68,154.03. Following the transaction, the insider now owns 28,445 shares of the company’s stock, valued at $1,499,335.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WTFC. Vanguard Group Inc. raised its position in 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. Dimensional Fund Advisors LP raised its position in shares of Wintrust Financial Corp. by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,989,202 shares of the company’s stock worth $203,446,000 after buying an additional 46,930 shares in the last quarter. BlackRock Fund Advisors raised its position 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 in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of 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 worth $87,349,000 after buying an additional 103,103 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Wintrust Financial Corp. by 1.1% in the third quarter. Fisher Asset Management LLC now owns 1,327,587 shares of the company’s stock worth $73,774,000 after buying an additional 14,269 shares in the last quarter. 91.93% of the stock is currently owned by institutional investors and hedge funds.

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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