Wintrust Financial (NASDAQ:WTFC) Upgraded to “Strong-Buy” by Zacks Investment Research

Wintrust Financial (NASDAQ:WTFCGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage presently has a $107.00 target price on the bank’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 16.72% from the company’s current price.

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 subject of several other reports. Janney Montgomery Scott upgraded Wintrust Financial from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 8th. StockNews.com started coverage on Wintrust Financial in a research note on Thursday, March 31st. They set a “hold” rating for the company. Piper Sandler increased their target price on Wintrust Financial from $120.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, April 21st. Raymond James increased their target price on Wintrust Financial from $124.00 to $130.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 21st. Finally, Royal Bank of Canada raised their price objective on Wintrust Financial from $110.00 to $122.00 in a research note on Friday, January 21st. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Wintrust Financial has an average rating of “Buy” and a consensus target price of $114.25.

NASDAQ WTFC traded down $0.67 on Tuesday, reaching $91.67. The company had a trading volume of 802 shares, compared to its average volume of 459,145. The firm has a market capitalization of $5.25 billion, a PE ratio of 12.84, a P/E/G ratio of 0.82 and a beta of 1.34. Wintrust Financial has a 1 year low of $65.66 and a 1 year high of $105.56. The firm has a 50-day moving average of $93.70 and a 200-day moving average of $93.54. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.97 and a quick ratio of 0.97.

Wintrust Financial (NASDAQ:WTFCGet Rating) last released its quarterly earnings results on Tuesday, April 19th. The bank reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.52. The firm had revenue of $462.08 million during the quarter, compared to analysts’ expectations of $427.66 million. Wintrust Financial had a return on equity of 10.95% and a net margin of 23.67%. Wintrust Financial’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.54 EPS. As a group, sell-side analysts expect that Wintrust Financial will post 7.53 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of WTFC. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Wintrust Financial by 23.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,070 shares of the bank’s stock worth $642,000 after acquiring an additional 1,324 shares in the last quarter. Yorktown Management & Research Co Inc grew its stake in shares of Wintrust Financial by 5.0% in the 3rd quarter. Yorktown Management & Research Co Inc now owns 10,500 shares of the bank’s stock valued at $844,000 after buying an additional 500 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Wintrust Financial by 2.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,649,342 shares of the bank’s stock valued at $212,928,000 after buying an additional 69,751 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Wintrust Financial by 1.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 14,700 shares of the bank’s stock worth $1,335,000 after purchasing an additional 200 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in Wintrust Financial by 20.7% during the third quarter. Teacher Retirement System of Texas now owns 9,152 shares of the bank’s stock valued at $736,000 after purchasing an additional 1,567 shares during the last quarter. 91.36% of the stock is owned by institutional investors and hedge funds.

Wintrust Financial Company Profile (Get Rating)

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.

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