Wintrust Financial (NASDAQ:WTFC) Price Target Cut to $112.00 by Analysts at Truist Financial

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

Other equities analysts have also recently issued reports about the stock. Citigroup dropped their target price on shares of Wintrust Financial from $115.00 to $113.00 and set a buy rating for the company in a research report on Monday. Keefe, Bruyette & Woods upped their price target on shares of Wintrust Financial from $103.00 to $106.00 and gave the company an outperform rating in a research report on Friday, January 19th. Raymond James upped their price target on shares of Wintrust Financial from $95.00 to $115.00 and gave the company a strong-buy rating in a research report on Friday, January 19th. Stephens restated an overweight rating and issued a $110.00 price target on shares of Wintrust Financial in a research report on Tuesday, April 16th. Finally, UBS Group upped their price objective on shares of Wintrust Financial from $105.00 to $113.00 and gave the company a buy rating in a research note on Tuesday, January 23rd. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wintrust Financial presently has an average rating of Buy and a consensus target price of $112.33.

Wintrust Financial Stock Performance

Shares of WTFC stock opened at $100.13 on Monday. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 10.35 and a beta of 1.21. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.97 and a current ratio of 0.98. The company has a 50-day simple moving average of $98.49 and a 200 day simple moving average of $91.40. Wintrust Financial has a 52 week low of $58.12 and a 52 week high of $105.29.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.47. The firm had revenue of $604.77 million during the quarter, compared to the consensus estimate of $577.80 million. Wintrust Financial had a net margin of 17.86% and a return on equity of 13.09%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.80 EPS. On average, sell-side analysts predict that Wintrust Financial will post 10.12 earnings per share for the current year.

Insider Activity

In related news, EVP Jeffrey D. Hahnfeld sold 588 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $97.88, for a total transaction of $57,553.44. Following the sale, the executive vice president now owns 3,410 shares of the company’s stock, valued at $333,770.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Edward J. Wehmer sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $99.36, for a total value of $943,920.00. Following the transaction, the insider now owns 177,124 shares in the company, valued at $17,599,040.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $57,553.44. Following the completion of the transaction, the executive vice president now owns 3,410 shares in the company, valued at approximately $333,770.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,309 shares of company stock valued at $1,023,730. Corporate insiders own 1.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Treasurer of the State of North Carolina increased its stake in shares of Wintrust Financial by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 26,713 shares of the bank’s stock worth $2,017,000 after purchasing an additional 140 shares in the last quarter. Signaturefd LLC increased its stake in shares of Wintrust Financial by 5.3% in the third quarter. Signaturefd LLC now owns 3,028 shares of the bank’s stock worth $229,000 after purchasing an additional 153 shares in the last quarter. Oliver Luxxe Assets LLC increased its stake in shares of Wintrust Financial by 1.7% in the first quarter. Oliver Luxxe Assets LLC now owns 9,290 shares of the bank’s stock worth $970,000 after purchasing an additional 157 shares in the last quarter. Huntington National Bank increased its stake in shares of Wintrust Financial by 30.6% in the third quarter. Huntington National Bank now owns 725 shares of the bank’s stock worth $55,000 after purchasing an additional 170 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Wintrust Financial by 21.7% in the third quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the bank’s stock worth $78,000 after purchasing an additional 183 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.