Wintrust Financial (NASDAQ:WTFC – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.
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 topic of several other reports. StockNews.com began coverage on shares of Wintrust Financial in a research note on Thursday. They set a “hold” rating on the stock. Raymond James dropped their price target on shares of Wintrust Financial from $127.00 to $124.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, March 15th. Wedbush upped their price objective on shares of Wintrust Financial from $110.00 to $115.00 in a report on Thursday, January 20th. Truist Financial upped their price target on shares of Wintrust Financial from $105.00 to $125.00 in a report on Monday, January 24th. Finally, Janney Montgomery Scott upgraded shares of Wintrust Financial from a “neutral” rating to a “buy” rating in a report on Tuesday, March 8th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wintrust Financial has a consensus rating of “Buy” and a consensus price target of $106.50.
Shares of NASDAQ WTFC traded up $0.94 during trading on Friday, hitting $93.87. The company had a trading volume of 971 shares, compared to its average volume of 465,479. The business’s 50-day moving average is $96.87 and its 200 day moving average is $91.87. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 0.99. Wintrust Financial has a 52 week low of $65.66 and a 52 week high of $105.56. The company has a market cap of $5.37 billion, a P/E ratio of 12.37, a PEG ratio of 0.82 and a beta of 1.37.
Wintrust Financial (NASDAQ:WTFC – Get Rating) last announced its earnings results on Wednesday, January 19th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.03. Wintrust Financial had a net margin of 25.04% and a return on equity of 11.76%. The company had revenue of $429.74 million for the quarter, compared to the consensus estimate of $417.42 million. During the same period in the previous year, the business earned $1.63 EPS. The company’s revenue was up 2.9% on a year-over-year basis. On average, research analysts expect that Wintrust Financial will post 6.81 EPS for the current year.
Large investors have recently modified their holdings of the company. Morgan Stanley increased its position in Wintrust Financial by 110.7% in the 2nd quarter. Morgan Stanley now owns 111,929 shares of the bank’s stock valued at $8,465,000 after acquiring an additional 58,796 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Wintrust Financial by 8.6% in the second quarter. Thrivent Financial for Lutherans now owns 202,020 shares of the bank’s stock valued at $15,279,000 after buying an additional 16,050 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Wintrust Financial by 2.9% in the third quarter. Fifth Third Bancorp now owns 5,663 shares of the bank’s stock valued at $455,000 after purchasing an additional 158 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of Wintrust Financial by 10.0% in the third quarter. New York State Teachers Retirement System now owns 88,424 shares of the bank’s stock valued at $7,107,000 after purchasing an additional 8,003 shares during the last quarter. Finally, Telemus Capital LLC purchased a new stake in shares of Wintrust Financial in the third quarter valued at about $201,000. Institutional investors own 91.36% of the company’s stock.
About Wintrust Financial
Wintrust Financial Corporation operates as a financial holding company. 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), online and mobile banking, and other services.