Wintrust Financial Corp. (NASDAQ:WTFC) posted its quarterly earnings data on Monday. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.02. The business earned $271.24 million during the quarter, compared to the consensus estimate of $264.11 million. Wintrust Financial Corp. had a return on equity of 8.27% and a net margin of 16.55%. Wintrust Financial Corp.’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the company earned $0.69 earnings per share.
Wintrust Financial Corp. (NASDAQ:WTFC) traded down 0.07% during mid-day trading on Monday, reaching $54.13. The company had a trading volume of 359,824 shares. The stock has a market capitalization of $2.80 billion, a PE ratio of 17.28 and a beta of 0.86. Wintrust Financial Corp. has a one year low of $37.96 and a one year high of $56.68. The company’s 50-day moving average is $55.21 and its 200-day moving average is $52.01.
In other Wintrust Financial Corp. news, insider Richard B. Murphy sold 1,293 shares of the stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $52.71, for a total transaction of $68,154.03. Following the completion of the transaction, the insider now directly owns 28,445 shares of the company’s stock, valued at $1,499,335.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in WTFC. BlackRock Fund Advisors raised its position in shares of Wintrust Financial Corp. by 8.3% in the second quarter. BlackRock Fund Advisors now owns 3,365,629 shares of the company’s stock valued at $171,647,000 after buying an additional 258,723 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Wintrust Financial Corp. by 6.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,712,718 shares of the company’s stock valued at $87,349,000 after buying an additional 103,103 shares during the period. Teachers Advisors Inc. raised its position in shares of Wintrust Financial Corp. by 116.3% in the second quarter. Teachers Advisors Inc. now owns 554,780 shares of the company’s stock valued at $28,294,000 after buying an additional 298,244 shares during the period. FMR LLC raised its position in shares of Wintrust Financial Corp. by 28.9% in the second quarter. FMR LLC now owns 368,375 shares of the company’s stock valued at $18,787,000 after buying an additional 82,499 shares during the period. Finally, BlackRock Investment Management LLC raised its position in shares of Wintrust Financial Corp. by 11.2% in the second quarter. BlackRock Investment Management LLC now owns 222,201 shares of the company’s stock valued at $11,332,000 after buying an additional 22,398 shares during the period. 91.93% of the stock is owned by institutional investors and hedge funds.
WTFC has been the subject of a number of research reports. Zacks Investment Research downgraded Wintrust Financial Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 22nd. Piper Jaffray Cos. restated a “neutral” rating and issued a $53.00 price target (up from $52.00) on shares of Wintrust Financial Corp. in a research note on Sunday, July 24th. Finally, Hovde Group started coverage on Wintrust Financial Corp. in a research note on Wednesday, August 24th. They issued a “market perform” rating and a $59.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $53.10.
About Wintrust Financial Corp.
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 provides community-oriented, personal and commercial banking services to customers located in the Chicago metropolitan area and in southeastern Wisconsin through its banking subsidiaries (the banks).
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