Zacks Investment Research Downgrades Wintrust Financial (NASDAQ:WTFC) to Strong Sell

Wintrust Financial (NASDAQ:WTFC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Saturday, Zacks.com reports.

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. “

Other equities analysts have also issued research reports about the company. Jefferies Financial Group boosted their price objective on T. Rowe Price Group from $103.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Wedbush reissued an “outperform” rating on shares of WNS in a research note on Tuesday, July 16th. ValuEngine lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. BidaskClub lowered Xilinx from a “buy” rating to a “hold” rating in a research note on Saturday, June 15th. Finally, Raymond James reissued a “reduce” rating and set a $48.00 price objective (up previously from $45.00) on shares of Hancock Whitney in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $89.13.

Shares of WTFC opened at $66.78 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.00 and a quick ratio of 0.98. Wintrust Financial has a one year low of $61.53 and a one year high of $92.56. The stock has a market capitalization of $3.78 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 0.79 and a beta of 1.03. The stock’s 50 day moving average price is $71.32.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings results on Monday, July 15th. The bank reported $1.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.27). Wintrust Financial had a return on equity of 10.72% and a net margin of 20.60%. The firm had revenue of $364.36 million for the quarter, compared to analysts’ expectations of $365.40 million. During the same quarter in the previous year, the firm posted $1.53 earnings per share. Sell-side analysts predict that Wintrust Financial will post 6.27 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc acquired a new position in shares of Wintrust Financial in the 1st quarter valued at $88,000. Quantamental Technologies LLC lifted its stake in shares of Wintrust Financial by 196.8% in the 1st quarter. Quantamental Technologies LLC now owns 1,466 shares of the bank’s stock valued at $99,000 after purchasing an additional 972 shares during the last quarter. Machina Capital S.A.S. acquired a new position in shares of Wintrust Financial in the 2nd quarter valued at $135,000. First Manhattan Co. acquired a new position in shares of Wintrust Financial in the 1st quarter valued at $201,000. Finally, LPL Financial LLC lifted its stake in shares of Wintrust Financial by 14.4% in the 4th quarter. LPL Financial LLC now owns 3,726 shares of the bank’s stock valued at $248,000 after purchasing an additional 470 shares during the last quarter. 89.01% of the stock is currently owned by institutional investors.

About Wintrust Financial

Wintrust Financial Corporation operates as a financial holding company in the Chicago metropolitan area, southern Wisconsin, and northwest Indiana. 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), Internet banking, and other services.

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