Wintrust Financial Corp. (NASDAQ:WTFC) shares saw unusually-strong trading volume on Monday following a stronger than expected earnings report. Approximately 196,654 shares traded hands during trading, a decline of 4% from the previous session’s volume of 203,955 shares.The stock last traded at $54.27 and had previously closed at $54.17.
The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $271.24 million for the quarter, compared to analyst estimates of $264.11 million. Wintrust Financial Corp. had a return on equity of 8.27% and a net margin of 16.55%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share.
Several analysts have issued reports on WTFC shares. Zacks Investment Research lowered Wintrust Financial Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $53.00 target price (up previously from $52.00) on shares of Wintrust Financial Corp. in a research report on Sunday, July 24th. Finally, Hovde Group began coverage on Wintrust Financial Corp. in a research report on Wednesday, August 24th. They issued a “market perform” rating and a $59.00 target price on the stock. 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. Wintrust Financial Corp. presently has an average rating of “Hold” and a consensus price target of $53.10.
In related news, insider Richard B. Murphy sold 1,293 shares of the stock in a transaction that occurred 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 sale, the insider now owns 28,445 shares of the company’s stock, valued at $1,499,335.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.
A number of large investors have recently modified their holdings of WTFC. PNC Financial Services Group Inc. increased its stake in shares of Wintrust Financial Corp. by 3.3% in the second quarter. PNC Financial Services Group Inc. now owns 3,585 shares of the company’s stock worth $183,000 after buying an additional 116 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Wintrust Financial Corp. by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 51,550 shares of the company’s stock valued at $2,629,000 after buying an additional 150 shares during the last quarter. PineBridge Investments L.P. boosted its stake in Wintrust Financial Corp. by 4.1% in the second quarter. PineBridge Investments L.P. now owns 6,159 shares of the company’s stock valued at $314,000 after buying an additional 241 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in Wintrust Financial Corp. by 0.8% in the second quarter. Eagle Asset Management Inc. now owns 29,713 shares of the company’s stock valued at $1,515,000 after buying an additional 248 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Wintrust Financial Corp. by 6.2% in the second quarter. CIBC Asset Management Inc now owns 6,313 shares of the company’s stock valued at $322,000 after buying an additional 369 shares during the last quarter. 91.93% of the stock is currently owned by institutional investors and hedge funds.
The firm has a 50 day moving average of $55.18 and a 200-day moving average of $52.20. The firm has a market capitalization of $2.80 billion, a PE ratio of 17.28 and a beta of 0.86.
Wintrust Financial Corp. Company Profile
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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