Wintrust Financial (NASDAQ:WTFC) Price Target Cut to $107.00

Wintrust Financial (NASDAQ:WTFC) had its target price reduced by Truist Financial from $112.00 to $107.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other research firms have also recently commented on WTFC. Hovde Group reissued 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 restated an overweight rating and issued a $110.00 price target on shares of Wintrust Financial in a research note on Tuesday, April 16th. Barclays cut their price target on shares of Wintrust Financial from $135.00 to $130.00 and set an overweight rating on the stock in a report on Friday, April 19th. StockNews.com raised shares of Wintrust Financial from a sell rating to a hold rating in a report on Thursday, April 18th. Finally, Citigroup cut their price target 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. 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. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $110.77.

Wintrust Financial Trading Up 3.6 %

Shares of WTFC stock opened at $103.81 on Monday. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 10.74 and a beta of 1.18. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.78. Wintrust Financial has a fifty-two week low of $71.86 and a fifty-two week high of $105.29. The firm’s 50 day moving average price is $97.67 and its two-hundred day moving average price is $97.20.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.47. Wintrust Financial had a net margin of 17.86% and a return on equity of 13.09%. The firm had revenue of $604.77 million for the quarter, compared to analysts’ expectations of $577.80 million. During the same period in the previous year, the company posted $2.80 earnings per share. Wintrust Financial’s revenue was up 6.9% compared to the same quarter last year. On average, analysts anticipate that Wintrust Financial will post 10.11 EPS for the current year.

Wintrust Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Wednesday, May 8th. Wintrust Financial’s dividend payout ratio is presently 18.61%.

Institutional Trading of Wintrust Financial

Hedge funds have recently made changes to their positions in the stock. Concord Wealth Partners purchased a new stake in shares of Wintrust Financial in the first quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Wintrust Financial in the first quarter worth approximately $27,000. Johnson Financial Group Inc. bought a new position in Wintrust Financial during the fourth quarter valued at approximately $25,000. Versant Capital Management Inc raised its position in Wintrust Financial by 825.0% during the second quarter. Versant Capital Management Inc now owns 296 shares of the bank’s stock valued at $29,000 after acquiring an additional 264 shares in the last quarter. Finally, Quent Capital LLC raised its position in Wintrust Financial by 120.8% during the fourth quarter. Quent Capital LLC now owns 351 shares of the bank’s stock valued at $33,000 after acquiring an additional 192 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.