Wintrust Financial (NASDAQ:WTFC) Stock Rated Equal Weight in New Coverage at Wells Fargo & Company

Equities researchers at Wells Fargo & Company started coverage on shares of Wintrust Financial (NASDAQ:WTFC) in a research note issued to investors on Thursday, Marketbeat reports. The firm set an “equal weight” rating and a $160.00 price target on the bank’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 9.51% from the company’s current price.

Several other research analysts also recently issued reports on the stock. DA Davidson upped their price target on shares of Wintrust Financial from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Wintrust Financial in a research report on Monday, June 29th. Wall Street Zen downgraded shares of Wintrust Financial from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Brean Capital lowered shares of Wintrust Financial from a “buy” rating to a “neutral” rating and set a $170.00 price target for the company. in a report on Tuesday, July 21st. Finally, Piper Sandler set a $186.00 price objective on shares of Wintrust Financial in a research report on Wednesday, July 22nd. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.50.

Wintrust Financial Price Performance

Shares of WTFC traded up $1.79 on Thursday, hitting $146.11. The company’s stock had a trading volume of 317,279 shares, compared to its average volume of 509,215. The company has a market capitalization of $9.86 billion, a PE ratio of 11.74 and a beta of 0.84. Wintrust Financial has a fifty-two week low of $119.61 and a fifty-two week high of $167.21. The company has a 50 day moving average price of $155.19 and a 200 day moving average price of $151.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.98 and a quick ratio of 0.97.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings results on Monday, July 20th. The bank reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.15. The firm had revenue of $738.63 million during the quarter, compared to analysts’ expectations of $735.36 million. Wintrust Financial had a return on equity of 13.37% and a net margin of 20.72%.The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm posted $2.78 EPS. On average, research analysts anticipate that Wintrust Financial will post 13.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Wintrust Financial

In other news, COO David Dykstra sold 13,515 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $162.77, for a total value of $2,199,836.55. Following the transaction, the chief operating officer owned 166,449 shares of the company’s stock, valued at $27,092,903.73. This represents a 7.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wintrust Financial

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Wintrust Financial in the 2nd quarter valued at $1,058,088,000. Bank of America Corp DE bought a new position in Wintrust Financial during the second quarter worth about $168,021,000. Norges Bank acquired a new position in Wintrust Financial in the fourth quarter valued at about $111,924,000. Jupiter Topco LLC acquired a new position in Wintrust Financial in the second quarter valued at about $92,734,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Wintrust Financial in the second quarter worth about $92,391,000. 93.48% of the stock is owned by institutional investors and hedge funds.

Wintrust Financial Company Profile

Wintrust Financial Corporation (NASDAQ: WTFC) is a financial services company and bank holding company headquartered in Rosemont, Illinois. Founded in 1991, the company operates a network of community banks that serve individuals, families, businesses and institutions.

Wintrust’s banking operations provide deposit accounts, commercial and consumer lending, mortgage financing, treasury management, payment services and other traditional banking products. Through specialized subsidiaries and affiliated businesses, the company also offers wealth management, investment services, insurance premium financing, equipment leasing and related financial solutions.

The company primarily serves communities in the greater Chicago metropolitan area and has expanded its banking presence into surrounding Midwestern markets, including parts of Wisconsin and Indiana.