Wintrust Financial (NASDAQ:WTFC) Given New $116.00 Price Target at Jefferies Financial Group

Wintrust Financial (NASDAQ:WTFC) had its price target reduced by Jefferies Financial Group from $118.00 to $116.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the bank’s stock.

Several other equities research analysts have also issued reports on the stock. Truist Financial reduced their price objective on shares of Wintrust Financial from $117.00 to $112.00 and set a buy rating for the company in a research note on Monday, April 22nd. Wedbush reissued an outperform rating and set a $116.00 price objective on shares of Wintrust Financial in a report on Thursday, April 18th. Hovde Group reaffirmed a market perform rating and set a $100.00 target price on shares of Wintrust Financial in a research report on Friday, June 21st. Stephens reissued an overweight rating and issued a $110.00 price target on shares of Wintrust Financial in a research report on Tuesday, April 16th. Finally, StockNews.com upgraded shares of Wintrust Financial from a sell rating to a hold rating in a research note on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $111.08.

Wintrust Financial Price Performance

WTFC opened at $98.10 on Wednesday. The stock has a fifty day moving average price of $97.62 and a 200 day moving average price of $96.98. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.78. Wintrust Financial has a 1 year low of $70.25 and a 1 year high of $105.29. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 10.14 and a beta of 1.18.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $2.89 EPS for the quarter, beating the consensus estimate of $2.42 by $0.47. The business had revenue of $604.77 million during the quarter, compared to analysts’ expectations of $577.80 million. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.80 EPS. Analysts forecast that Wintrust Financial will post 10.13 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 1.83%. Wintrust Financial’s dividend payout ratio is currently 18.61%.

Hedge Funds Weigh In On Wintrust Financial

Several hedge funds and other institutional investors have recently modified their holdings of WTFC. Allspring Global Investments Holdings LLC raised its stake in Wintrust Financial by 2,131.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 73,913 shares of the bank’s stock worth $6,855,000 after acquiring an additional 70,601 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Wintrust Financial by 5.9% during the 4th quarter. Clearbridge Investments LLC now owns 258,610 shares of the bank’s stock valued at $23,986,000 after purchasing an additional 14,409 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in Wintrust Financial by 13.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 538,489 shares of the bank’s stock valued at $49,945,000 after buying an additional 65,179 shares in the last quarter. Access Investment Management LLC bought a new stake in Wintrust Financial during the fourth quarter worth about $1,624,000. Finally, Alberta Investment Management Corp increased its holdings in shares of Wintrust Financial by 61.0% during the fourth quarter. Alberta Investment Management Corp now owns 32,113 shares of the bank’s stock worth $2,978,000 after buying an additional 12,165 shares in the last quarter. Institutional investors own 93.48% of the company’s stock.

Wintrust Financial Company Profile

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.