Wall Street Zen Upgrades Wintrust Financial (NASDAQ:WTFC) to Hold

Wintrust Financial (NASDAQ:WTFC) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

WTFC has been the topic of several other research reports. Truist Financial increased their price target on Wintrust Financial from $170.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Citigroup downgraded Wintrust Financial from a “buy” rating to a “hold” rating in a report on Tuesday, July 21st. Brean Capital lowered Wintrust Financial from a “buy” rating to a “neutral” rating and set a $170.00 target price on the stock. in a research report on Tuesday, July 21st. DA Davidson increased their target price on Wintrust Financial from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, Piper Sandler set a $186.00 price target on shares of Wintrust Financial in a research report on Wednesday, July 22nd. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $176.50.

Wintrust Financial Stock Performance

WTFC opened at $146.11 on Friday. The company has a fifty day moving average price of $154.83 and a two-hundred day moving average price of $151.16. Wintrust Financial has a 1-year low of $119.61 and a 1-year high of $167.21. The company has a market cap of $9.86 billion, a P/E ratio of 11.74 and a beta of 0.84. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings data on Monday, July 20th. The bank reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.15. The company had revenue of $738.63 million for the quarter, compared to analysts’ expectations 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 was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.78 EPS. Analysts predict that Wintrust Financial will post 13.07 EPS 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 stock was sold at an average price of $162.77, for a total transaction of $2,199,836.55. Following the completion of the sale, the chief operating officer owned 166,449 shares in the company, valued at approximately $27,092,903.73. This represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wintrust Financial

Large investors have recently bought and sold shares of the stock. QRG Capital Management Inc. boosted its holdings in Wintrust Financial by 18.0% during the 2nd quarter. QRG Capital Management Inc. now owns 3,172 shares of the bank’s stock worth $510,000 after acquiring an additional 483 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Wintrust Financial by 5.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,426 shares of the bank’s stock valued at $551,000 after purchasing an additional 168 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Wintrust Financial by 15.2% during the second quarter. NewEdge Advisors LLC now owns 1,764 shares of the bank’s stock valued at $283,000 after purchasing an additional 233 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Wintrust Financial during the second quarter valued at about $376,000. Finally, Arizona State Retirement System boosted its holdings in Wintrust Financial by 0.9% during the second quarter. Arizona State Retirement System now owns 18,562 shares of the bank’s stock worth $2,983,000 after purchasing an additional 167 shares during the last quarter. 93.48% of the stock is currently owned by institutional investors.

Wintrust Financial Company Profile

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.