Wintrust Financial (NASDAQ:WTFC) Stock Rating Upgraded by Truist Financial

Truist Financial upgraded shares of Wintrust Financial (NASDAQ:WTFC) to a strong-buy rating in a report published on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. DA Davidson boosted their price objective on shares of Wintrust Financial from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Piper Sandler increased their price target on Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Citigroup boosted their target price on shares of Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Raymond James increased their price target on shares of Wintrust Financial from $125.00 to $135.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, UBS Group assumed coverage on Wintrust Financial in a report on Tuesday, December 17th. They issued a “buy” rating and a $157.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.00.

Wintrust Financial Price Performance

Shares of NASDAQ WTFC opened at $127.58 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 1.01. Wintrust Financial has a 1-year low of $89.68 and a 1-year high of $142.04. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 13.36 and a beta of 1.20. The business has a 50-day moving average of $129.41 and a 200-day moving average of $113.82.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings results on Monday, October 21st. The bank reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.03). Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The company had revenue of $615.73 million during the quarter, compared to analysts’ expectations of $623.45 million. During the same quarter in the prior year, the company earned $2.53 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts anticipate that Wintrust Financial will post 10.12 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, November 7th. Wintrust Financial’s dividend payout ratio (DPR) is 18.85%.

Insider Activity at Wintrust Financial

In other news, insider Richard B. Murphy sold 4,099 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $115.63, for a total value of $473,967.37. Following the completion of the sale, the insider now directly owns 42,311 shares of the company’s stock, valued at approximately $4,892,420.93. This represents a 8.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David L. Stoehr sold 1,607 shares of the 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 transaction, the chief financial officer now directly owns 14,874 shares of the company’s stock, valued at approximately $1,687,604.04. The trade was a 9.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,198 shares of company stock worth $2,445,314 in the last three months. 1.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wintrust Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Wintrust Financial by 14.1% in the 3rd quarter. FMR LLC now owns 5,153,999 shares of the bank’s stock worth $559,364,000 after purchasing an additional 637,072 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Wintrust Financial by 36.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 802,841 shares of the bank’s stock valued at $87,132,000 after acquiring an additional 213,559 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Wintrust Financial by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock worth $297,376,000 after acquiring an additional 146,090 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Wintrust Financial by 11.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,308,254 shares of the bank’s stock worth $141,981,000 after acquiring an additional 133,311 shares during the last quarter. Finally, State Street Corp raised its position in shares of Wintrust Financial by 5.1% during the third quarter. State Street Corp now owns 2,627,561 shares of the bank’s stock worth $285,169,000 after purchasing an additional 126,724 shares during the period. 93.48% of the stock is currently owned by institutional investors.

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.