Wintrust Financial (NASDAQ:WTFC) Price Target Raised to $123.00 at Truist Financial

Wintrust Financial (NASDAQ:WTFC) had its target price hoisted by Truist Financial from $118.00 to $123.00 in a research note released on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the bank’s stock.

WTFC has been the topic of a number of other reports. Royal Bank of Canada raised their price objective on Wintrust Financial from $116.00 to $117.00 and gave the company an outperform rating in a report on Tuesday, July 9th. Piper Sandler raised their price objective on Wintrust Financial from $113.00 to $125.00 and gave the company an overweight rating in a report on Friday, July 19th. Jefferies Financial Group decreased their price objective on Wintrust Financial from $118.00 to $116.00 and set a buy rating on the stock in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods cut Wintrust Financial from an outperform rating to a market perform rating and raised their price objective for the company from $110.00 to $115.00 in a report on Friday, July 19th. Finally, Stephens reissued an overweight rating and set a $115.00 price objective on shares of Wintrust Financial in a report on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $118.23.

Wintrust Financial Stock Performance

NASDAQ:WTFC opened at $108.26 on Friday. The business’s 50-day moving average price is $104.83 and its two-hundred day moving average price is $100.61. Wintrust Financial has a twelve month low of $71.86 and a twelve month high of $113.68. The stock has a market cap of $6.69 billion, a P/E ratio of 11.20 and a beta of 1.16. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.85.

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

Wintrust Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.66%. Wintrust Financial’s dividend payout ratio is currently 18.61%.

Institutional Investors Weigh In On Wintrust Financial

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Wintrust Financial by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock worth $673,603,000 after buying an additional 244,168 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Wintrust Financial by 5.9% in the fourth quarter. Clearbridge Investments LLC now owns 258,610 shares of the bank’s stock worth $23,986,000 after buying an additional 14,409 shares during the period. Frontier Capital Management Co. LLC boosted its position in Wintrust Financial by 13.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 538,489 shares of the bank’s stock valued at $49,945,000 after acquiring an additional 65,179 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Wintrust Financial by 157.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 190,416 shares of the bank’s stock worth $19,878,000 after acquiring an additional 116,503 shares during the period. Finally, Alberta Investment Management Corp raised its position in shares of Wintrust Financial by 61.0% in the 4th quarter. Alberta Investment Management Corp now owns 32,113 shares of the bank’s stock worth $2,978,000 after acquiring an additional 12,165 shares in the last quarter. 93.48% of the stock is currently owned by institutional investors.

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.