Wintrust Financial (NASDAQ:WTFC) Price Target Raised to $190.00

Wintrust Financial (NASDAQ:WTFC) had its price target hoisted by DA Davidson from $185.00 to $190.00 in a report published on Wednesday, Marketbeat Ratings reports. The firm currently has a buy rating on the bank’s stock.

A number of other research analysts have also commented on the company. Piper Sandler set a $186.00 price target on Wintrust Financial in a research report on Wednesday. Royal Bank Of Canada boosted their target price on Wintrust Financial from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Stephens assumed coverage on Wintrust Financial in a report on Friday, March 27th. They set an “equal weight” rating and a $160.00 target price for the company. Brean Capital lowered Wintrust Financial from a “buy” rating to a “neutral” rating and set a $170.00 price target for the company. in a research note on Tuesday. Finally, Citigroup cut shares of Wintrust Financial from a “buy” rating to a “hold” rating in a report on Tuesday. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.77.

Wintrust Financial Trading Up 0.6%

Shares of WTFC opened at $158.66 on Wednesday. The stock has a market capitalization of $10.70 billion, a P/E ratio of 12.74 and a beta of 0.84. Wintrust Financial has a twelve month low of $119.61 and a twelve month high of $167.21. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $156.44 and a two-hundred day simple moving average of $149.50.

Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Monday, July 20th. The bank reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.15. The company had revenue of $738.63 million during the quarter, compared to analyst estimates of $735.36 million. Wintrust Financial had a net margin of 20.72% and a return on equity of 13.37%. Wintrust Financial’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.78 earnings per share. On average, research analysts anticipate that Wintrust Financial will post 13.03 EPS for the current year.

Wintrust Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, August 6th. Wintrust Financial’s payout ratio is presently 17.67%.

Insider Buying and Selling

In other news, Director Suzet M. Mckinney sold 500 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $148.96, for a total value of $74,480.00. Following the completion of the transaction, the director owned 3,303 shares in the company, valued at $492,014.88. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO David A. Dykstra sold 9,579 shares of Wintrust Financial stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $148.82, for a total value of $1,425,546.78. Following the sale, the chief operating officer owned 179,810 shares in the company, valued at $26,759,324.20. This represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Wintrust Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Trust Advisors LP increased its stake in shares of Wintrust Financial by 26.6% in the 1st quarter. First Trust Advisors LP now owns 1,830,268 shares of the bank’s stock worth $254,297,000 after acquiring an additional 385,069 shares in the last quarter. Geode Capital Management LLC boosted its stake in Wintrust Financial by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,273,042 shares of the bank’s stock worth $178,038,000 after acquiring an additional 16,997 shares in the last quarter. Bank of America Corp DE grew its holdings in Wintrust Financial by 1.4% in the third quarter. Bank of America Corp DE now owns 1,071,763 shares of the bank’s stock worth $141,944,000 after purchasing an additional 15,044 shares during the period. Wellington Management Group LLP grew its holdings in Wintrust Financial by 22.2% in the fourth quarter. Wellington Management Group LLP now owns 832,352 shares of the bank’s stock worth $116,379,000 after purchasing an additional 151,385 shares during the period. Finally, Norges Bank bought a new position in shares of Wintrust Financial during the fourth quarter valued at approximately $111,924,000. 93.48% of the stock is owned by hedge funds and other institutional investors.

About Wintrust Financial

Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.

The firm’s core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.