Royal Bank of Canada Reaffirms Outperform Rating for Wintrust Financial (NASDAQ:WTFC)

Wintrust Financial (NASDAQ:WTFC)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a report released on Thursday,Benzinga reports. They presently have a $152.00 target price on the bank’s stock. Royal Bank of Canada’s price objective points to a potential upside of 13.57% from the company’s previous close.

WTFC has been the subject of several other research reports. Barclays upped their price objective on shares of Wintrust Financial from $151.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com lowered Wintrust Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. UBS Group initiated coverage on Wintrust Financial in a research note on Tuesday, December 17th. They set a “buy” rating and a $157.00 target price for the company. Wedbush restated an “outperform” rating and issued a $130.00 target price on shares of Wintrust Financial in a research report on Tuesday, October 22nd. Finally, Piper Sandler upped their price target on shares of Wintrust Financial from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.69.

Wintrust Financial Stock Performance

Shares of WTFC traded up $0.55 during trading hours on Thursday, hitting $133.84. The company had a trading volume of 187,466 shares, compared to its average volume of 460,467. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 12.98 and a beta of 1.20. The business has a fifty day moving average of $131.06 and a 200-day moving average of $116.32. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.73. Wintrust Financial has a 12 month low of $89.68 and a 12 month high of $142.04.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.11. Wintrust Financial had a return on equity of 12.92% and a net margin of 17.52%. During the same quarter last year, the firm posted $1.87 EPS. Equities analysts anticipate that Wintrust Financial will post 10.17 EPS for the current fiscal year.

Insider Activity at Wintrust Financial

In other Wintrust Financial news, insider Richard B. Murphy sold 4,099 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $115.63, for a total value of $473,967.37. Following the transaction, the insider now directly owns 42,311 shares of the company’s stock, valued at approximately $4,892,420.93. The trade was a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David A. Dykstra sold 15,492 shares of Wintrust Financial stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $115.48, for a total transaction of $1,789,016.16. Following the completion of the sale, the chief operating officer now owns 197,591 shares of the company’s stock, valued at $22,817,808.68. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. 1.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wintrust Financial

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC boosted its holdings in Wintrust Financial by 530.3% during the third quarter. Jane Street Group LLC now owns 39,135 shares of the bank’s stock worth $4,247,000 after purchasing an additional 32,926 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Wintrust Financial by 6.0% in the third quarter. Retirement Systems of Alabama now owns 80,782 shares of the bank’s stock valued at $8,767,000 after acquiring an additional 4,562 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Wintrust Financial by 36.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 802,841 shares of the bank’s stock worth $87,132,000 after purchasing an additional 213,559 shares during the period. State Street Corp lifted its position in shares of Wintrust Financial by 5.1% during the 3rd quarter. State Street Corp now owns 2,627,561 shares of the bank’s stock valued at $285,169,000 after buying an additional 126,724 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Wintrust Financial by 7.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 203,285 shares of the bank’s stock valued at $22,063,000 after purchasing an additional 14,699 shares during the last quarter. 93.48% of the stock is owned by institutional investors and hedge funds.

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.