Wintrust Financial (NASDAQ:WTFC) PT Raised to $123.00

Wintrust Financial (NASDAQ:WTFC) had its price objective raised by analysts at Truist Financial from $118.00 to $123.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. Truist Financial’s target price would suggest a potential upside of 13.62% from the stock’s current price.

WTFC has been the subject of several other reports. Hovde Group reissued a “market perform” rating and set a $100.00 price target on shares of Wintrust Financial in a report on Friday, June 21st. Jefferies Financial Group dropped their target price on Wintrust Financial from $118.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Piper Sandler upped their price target on shares of Wintrust Financial from $113.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Stephens reiterated an “overweight” rating and issued a $115.00 price objective on shares of Wintrust Financial in a research note on Thursday, July 18th. Finally, Keefe, Bruyette & Woods downgraded shares of Wintrust Financial from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $110.00 to $115.00 in a report on Friday, July 19th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.23.

Wintrust Financial Price Performance

Shares of WTFC opened at $108.26 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The company’s fifty day simple moving average is $104.83 and its 200 day simple moving average is $100.60. Wintrust Financial has a 1-year low of $71.86 and a 1-year high of $113.68. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 11.20 and a beta of 1.16.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings data on Wednesday, July 17th. The bank reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.10). Wintrust Financial had a net margin of 17.02% and a return on equity of 12.71%. The business had revenue of $591.76 million during the quarter, compared to analyst estimates of $587.33 million. During the same period in the previous year, the business earned $2.38 earnings per share. The business’s quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts forecast that Wintrust Financial will post 10.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WTFC. Johnson Financial Group Inc. purchased a new stake in Wintrust Financial in the 4th quarter worth approximately $25,000. Concord Wealth Partners bought a new position in shares of Wintrust Financial in the first quarter worth $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Wintrust Financial in the first quarter worth $27,000. Versant Capital Management Inc boosted its stake 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 buying an additional 264 shares during the period. Finally, DHJJ Financial Advisors Ltd. grew its position in Wintrust Financial by 70.0% during the first quarter. DHJJ Financial Advisors Ltd. now owns 488 shares of the bank’s stock worth $51,000 after buying an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 93.48% of the company’s stock.

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.