Raymond James Increases Wintrust Financial (NASDAQ:WTFC) Price Target to $135.00

Wintrust Financial (NASDAQ:WTFC) had its price target raised by Raymond James from $125.00 to $135.00 in a research report sent to investors on Wednesday, Benzinga reports. Raymond James currently has a strong-buy rating on the bank’s stock.

Several other research analysts also recently weighed in on WTFC. Jefferies Financial Group decreased their price target on shares of Wintrust Financial from $118.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Wedbush reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Wintrust Financial in a report on Tuesday, October 22nd. Piper Sandler lifted their target price on Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday. Stephens restated an “overweight” rating and issued a $115.00 price target on shares of Wintrust Financial in a research report on Thursday, July 18th. Finally, Royal Bank of Canada lifted their price objective on Wintrust Financial from $116.00 to $117.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wintrust Financial currently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Wintrust Financial Price Performance

NASDAQ WTFC opened at $113.02 on Wednesday. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 11.69 and a beta of 1.16. Wintrust Financial has a 1-year low of $72.14 and a 1-year high of $117.77. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 0.99. The business’s fifty day moving average price is $107.69 and its 200-day moving average price is $102.33.

Wintrust Financial (NASDAQ:WTFC) last announced its earnings results on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.03). Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The firm had revenue of $615.73 million during the quarter, compared to analysts’ expectations of $623.45 million. During the same period in the previous year, the business posted $2.53 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts predict that Wintrust Financial will post 10.11 earnings per share for the current year.

Wintrust Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, November 7th. Wintrust Financial’s payout ratio is currently 18.61%.

Insider Buying and Selling

In other Wintrust Financial news, CFO David L. Stoehr sold 1,607 shares of Wintrust Financial stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $113.46, for a total value of $182,330.22. Following the sale, the chief financial officer now directly owns 14,874 shares in the company, valued at approximately $1,687,604.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WTFC. Voisard Asset Management Group Inc. bought a new position in Wintrust Financial during the third quarter valued at approximately $148,000. S.A. Mason LLC purchased a new stake in shares of Wintrust Financial during the 3rd quarter worth approximately $239,000. Nisa Investment Advisors LLC boosted its position in shares of Wintrust Financial by 1.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 28,490 shares of the bank’s stock valued at $3,092,000 after acquiring an additional 315 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Wintrust Financial by 16.7% in the third quarter. State of Alaska Department of Revenue now owns 7,718 shares of the bank’s stock valued at $837,000 after purchasing an additional 1,105 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Wintrust Financial by 5.1% in the third quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the bank’s stock worth $1,997,000 after purchasing an additional 900 shares during the last quarter. Hedge funds and other institutional investors 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.