Wintrust Financial (NASDAQ:WTFC) Given New $112.00 Price Target at Truist Financial

Wintrust Financial (NASDAQ:WTFC) had its target price cut by Truist Financial from $117.00 to $112.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada lifted their price target on Wintrust Financial from $109.00 to $116.00 and gave the stock an outperform rating in a report on Tuesday, April 9th. StockNews.com raised Wintrust Financial from a sell rating to a hold rating in a report on Thursday, April 18th. UBS Group boosted their target price on Wintrust Financial from $105.00 to $113.00 and gave the company a buy rating in a report on Tuesday, January 23rd. Raymond James boosted their target price on Wintrust Financial from $95.00 to $115.00 and gave the company a strong-buy rating in a report on Friday, January 19th. Finally, Stephens reissued an overweight rating and issued a $110.00 target price on shares of Wintrust Financial in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $112.33.

Wintrust Financial Trading Up 2.0 %

WTFC opened at $99.30 on Monday. Wintrust Financial has a 12 month low of $58.12 and a 12 month high of $105.29. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 10.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.98 and a quick ratio of 0.97. The business has a fifty day moving average price of $98.25 and a 200 day moving average price of $91.16.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.47. The company had revenue of $604.77 million during the quarter, compared to the consensus estimate of $577.80 million. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. Wintrust Financial’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.80 EPS. Sell-side analysts expect that Wintrust Financial will post 10.02 earnings per share for the current fiscal year.

Wintrust Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were given a dividend of $0.45 per share. This is a boost from Wintrust Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.80 annualized dividend and a yield of 1.81%. Wintrust Financial’s payout ratio is presently 18.61%.

Insiders Place Their Bets

In other Wintrust Financial news, insider Edward J. Wehmer sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $99.36, for a total transaction of $943,920.00. Following the transaction, the insider now owns 177,124 shares in the company, valued at approximately $17,599,040.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Jeffrey D. Hahnfeld sold 588 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $97.88, for a total value of $57,553.44. Following the sale, the executive vice president now owns 3,410 shares in the company, valued at approximately $333,770.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Edward J. Wehmer sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $99.36, for a total value of $943,920.00. Following the completion of the sale, the insider now owns 177,124 shares in the company, valued at approximately $17,599,040.64. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wintrust Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Treasurer of the State of North Carolina grew its holdings in shares of Wintrust Financial by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 26,713 shares of the bank’s stock worth $2,017,000 after acquiring an additional 140 shares during the period. Signaturefd LLC grew its holdings in Wintrust Financial by 5.3% during the 3rd quarter. Signaturefd LLC now owns 3,028 shares of the bank’s stock valued at $229,000 after buying an additional 153 shares during the last quarter. Oliver Luxxe Assets LLC grew its holdings in Wintrust Financial by 1.7% during the 1st quarter. Oliver Luxxe Assets LLC now owns 9,290 shares of the bank’s stock valued at $970,000 after buying an additional 157 shares during the last quarter. Huntington National Bank grew its holdings in Wintrust Financial by 30.6% during the 3rd quarter. Huntington National Bank now owns 725 shares of the bank’s stock valued at $55,000 after buying an additional 170 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in Wintrust Financial by 21.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the bank’s stock valued at $78,000 after buying an additional 183 shares during the last quarter. Institutional investors and hedge funds 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.