Wintrust Financial (NASDAQ:WTFC) Price Target Raised to $135.00

Wintrust Financial (NASDAQ:WTFC) had its price objective increased by Raymond James from $125.00 to $135.00 in a report published on Wednesday morning, Benzinga reports. They currently have a strong-buy rating on the bank’s stock.

WTFC has been the subject of a number of other research reports. DA Davidson upped their price target on Wintrust Financial from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Stephens restated an “overweight” rating and set a $115.00 target price on shares of Wintrust Financial in a report on Thursday, July 18th. Jefferies Financial Group cut their price target on shares of Wintrust Financial from $118.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Wedbush restated an “outperform” rating and issued a $130.00 price objective on shares of Wintrust Financial in a report on Tuesday, October 22nd. Finally, Piper Sandler raised their target price on shares of Wintrust Financial from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wintrust Financial presently has an average rating of “Moderate Buy” and an average target price of $123.00.

Wintrust Financial Stock Down 1.0 %

Shares of Wintrust Financial stock opened at $113.02 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.99 and a current ratio of 1.02. Wintrust Financial has a 52-week low of $72.14 and a 52-week high of $117.77. The company’s 50 day moving average price is $107.69 and its 200-day moving average price is $102.33. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 11.69 and a beta of 1.16.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings results on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.03). The firm had revenue of $615.73 million during the quarter, compared to the consensus estimate of $623.45 million. Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. Wintrust Financial’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $2.53 EPS. Equities research analysts forecast that Wintrust Financial will post 10.11 EPS for the current year.

Wintrust Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 1.59%. Wintrust Financial’s payout ratio is 18.61%.

Insider Buying and Selling

In other news, CFO David L. Stoehr sold 1,607 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $113.46, for a total transaction of $182,330.22. Following the completion of the transaction, the chief financial officer now directly owns 14,874 shares in the company, valued at $1,687,604.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.47% of the stock is currently owned by company insiders.

Institutional Trading of Wintrust Financial

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Wintrust Financial by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock worth $673,603,000 after buying an additional 244,168 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Wintrust Financial by 157.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 190,416 shares of the bank’s stock worth $19,878,000 after purchasing an additional 116,503 shares in the last quarter. Capital International Investors increased its holdings in shares of Wintrust Financial by 4.6% in the 1st quarter. Capital International Investors now owns 1,638,085 shares of the bank’s stock worth $171,000,000 after purchasing an additional 72,082 shares in the last quarter. Choreo LLC purchased a new position in shares of Wintrust Financial in the second quarter worth $1,115,000. Finally, Raymond James & Associates lifted its holdings in shares of Wintrust Financial by 2.7% during the second quarter. Raymond James & Associates now owns 207,944 shares of the bank’s stock valued at $20,495,000 after purchasing an additional 5,563 shares in the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

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.