Zacks Investment Research upgraded shares of Wintrust Financial (NASDAQ:WTFC) from a hold rating to a buy rating in a research report sent to investors on Wednesday. The brokerage currently has $94.00 price objective on the bank’s stock.
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. “
Other analysts have also recently issued reports about the company. SunTrust Banks reissued a hold rating and set a $88.00 target price on shares of Wintrust Financial in a research note on Wednesday, November 29th. Royal Bank of Canada reaffirmed a buy rating and set a $84.00 price target on shares of Wintrust Financial in a research report on Friday, September 8th. BidaskClub downgraded Wintrust Financial from a buy rating to a hold rating in a research report on Friday, December 15th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $90.00 price target on shares of Wintrust Financial in a research report on Thursday, December 14th. Finally, Piper Jaffray Companies reaffirmed a hold rating and set a $74.00 price target on shares of Wintrust Financial in a research report on Friday, September 1st. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Wintrust Financial currently has a consensus rating of Buy and an average price target of $84.88.
Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Wednesday, October 18th. The bank reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. Wintrust Financial had a return on equity of 9.32% and a net margin of 19.74%. The business had revenue of $295.70 million during the quarter, compared to analysts’ expectations of $298.96 million. During the same period in the prior year, the business earned $0.92 EPS. Wintrust Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. analysts anticipate that Wintrust Financial will post 4.38 earnings per share for the current year.
In related news, Director Gary D. Sweeney acquired 338 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was bought at an average price of $80.58 per share, with a total value of $27,236.04. Following the acquisition, the director now owns 2,973 shares in the company, valued at approximately $239,564.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David A. Dykstra sold 22,476 shares of the stock in a transaction that occurred 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 directly owns 188,604 shares of the company’s stock, valued at approximately $15,061,915.44. The disclosure for this sale can be found here. In the last three months, insiders sold 44,500 shares of company stock valued at $3,563,512. 1.97% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. raised its stake in Wintrust Financial by 0.7% in the 2nd quarter. Suntrust Banks Inc. now owns 7,307 shares of the bank’s stock valued at $558,000 after acquiring an additional 49 shares during the period. Greenwood Capital Associates LLC raised its stake in Wintrust Financial by 1.8% in the 2nd quarter. Greenwood Capital Associates LLC now owns 4,399 shares of the bank’s stock valued at $336,000 after acquiring an additional 78 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Wintrust Financial by 6.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,123 shares of the bank’s stock valued at $621,000 after acquiring an additional 471 shares during the period. Symphony Asset Management LLC raised its stake in Wintrust Financial by 3.9% in the 2nd quarter. Symphony Asset Management LLC now owns 13,037 shares of the bank’s stock valued at $997,000 after acquiring an additional 488 shares during the period. Finally, Nordea Investment Management AB raised its stake in Wintrust Financial by 0.9% in the 2nd quarter. Nordea Investment Management AB now owns 56,400 shares of the bank’s stock valued at $4,311,000 after acquiring an additional 500 shares during the period. 91.60% of the stock is owned by institutional investors.
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Wintrust Financial 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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