Wintrust Financial (NASDAQ:WTFC – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.
Other equities research analysts also recently issued reports about the company. Brean Capital downgraded Wintrust Financial from a “buy” rating to a “neutral” rating and set a $170.00 price objective for the company. in a report on Tuesday, July 21st. Raymond James Financial assumed coverage on shares of Wintrust Financial in a research note on Tuesday, July 7th. They set an “outperform” rating and a $180.00 target price on the stock. TD Cowen dropped their price target on shares of Wintrust Financial from $184.00 to $183.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wintrust Financial in a report on Monday, June 29th. Finally, Truist Financial lifted their price target on shares of Wintrust Financial from $170.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.77.
View Our Latest Stock Analysis on WTFC
Wintrust Financial Stock Performance
Wintrust Financial (NASDAQ:WTFC – Get Free Report) last announced its earnings results on Monday, July 20th. The bank reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.15. The business had revenue of $738.63 million during the quarter, compared to the consensus estimate of $735.36 million. Wintrust Financial had a net margin of 20.72% and a return on equity of 13.37%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.78 earnings per share. Research analysts forecast that Wintrust Financial will post 13.04 earnings per share for the current fiscal year.
Insider Activity
In related news, COO David Dykstra sold 13,515 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $162.77, for a total value of $2,199,836.55. Following the completion of the transaction, the chief operating officer owned 166,449 shares of the company’s stock, valued at approximately $27,092,903.73. This represents a 7.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.24% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in WTFC. California State Teachers Retirement System lifted its stake in Wintrust Financial by 15,788.5% in the 2nd quarter. California State Teachers Retirement System now owns 12,508,355 shares of the bank’s stock worth $2,010,343,000 after purchasing an additional 12,429,629 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Wintrust Financial in the second quarter worth about $1,058,088,000. Bank of America Corp DE bought a new stake in shares of Wintrust Financial in the second quarter worth about $168,021,000. Norges Bank purchased a new stake in shares of Wintrust Financial in the fourth quarter worth about $111,924,000. Finally, Wellington Management Group LLP bought a new position in Wintrust Financial during the third quarter valued at approximately $90,187,000. 93.48% of the stock is owned by hedge funds and other institutional investors.
About Wintrust Financial
Wintrust Financial Corporation (NASDAQ: WTFC) is a financial services company and bank holding company headquartered in Rosemont, Illinois. Founded in 1991, the company operates a network of community banks that serve individuals, families, businesses and institutions.
Wintrust’s banking operations provide deposit accounts, commercial and consumer lending, mortgage financing, treasury management, payment services and other traditional banking products. Through specialized subsidiaries and affiliated businesses, the company also offers wealth management, investment services, insurance premium financing, equipment leasing and related financial solutions.
The company primarily serves communities in the greater Chicago metropolitan area and has expanded its banking presence into surrounding Midwestern markets, including parts of Wisconsin and Indiana.
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