Wintrust Financial (NASDAQ:WTFC) Receives “Market Perform” Rating from Hovde Group

Wintrust Financial (NASDAQ:WTFC)‘s stock had its “market perform” rating reissued by research analysts at Hovde Group in a research note issued to investors on Friday, Benzinga reports. They currently have a $100.00 target price on the bank’s stock. Hovde Group’s target price would indicate a potential upside of 6.68% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Stephens reissued an “overweight” rating and set a $110.00 target price on shares of Wintrust Financial in a research report on Tuesday, April 16th. Truist Financial cut their price target on shares of Wintrust Financial from $117.00 to $112.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada upped their price target on shares of Wintrust Financial from $109.00 to $116.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Citigroup dropped their target price on shares of Wintrust Financial from $115.00 to $113.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Wedbush reissued an “outperform” rating and set a $116.00 target price on shares of Wintrust Financial in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.38.

Wintrust Financial Price Performance

Wintrust Financial stock opened at $93.74 on Friday. Wintrust Financial has a 1 year low of $67.61 and a 1 year high of $105.29. The firm has a 50 day moving average price of $97.64 and a 200 day moving average price of $96.60. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 9.69 and a beta of 1.19. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.97 and a current ratio of 0.98.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings data on Thursday, April 18th. The bank reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.47. Wintrust Financial had a net margin of 17.86% and a return on equity of 13.09%. The company had revenue of $604.77 million during the quarter, compared to the consensus estimate of $577.80 million. During the same period in the previous year, the firm earned $2.80 earnings per share. Wintrust Financial’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts predict that Wintrust Financial will post 10.14 earnings per share for the current year.

Hedge Funds Weigh In On Wintrust Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. grew its stake in shares of Wintrust Financial by 17.4% in the first quarter. Westwood Holdings Group Inc. now owns 186,225 shares of the bank’s stock worth $19,440,000 after acquiring an additional 27,660 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Wintrust Financial in the first quarter worth $200,000. Mount Yale Investment Advisors LLC lifted its position in Wintrust Financial by 17.6% in the first quarter. Mount Yale Investment Advisors LLC now owns 5,408 shares of the bank’s stock worth $564,000 after purchasing an additional 811 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Wintrust Financial by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,385 shares of the bank’s stock worth $2,964,000 after purchasing an additional 1,919 shares during the period. Finally, PEAK6 Investments LLC bought a new position in Wintrust Financial in the first quarter worth $227,000. Institutional investors and hedge funds own 93.48% of the company’s stock.

About Wintrust Financial

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.