Wintrust Financial (NASDAQ:WTFC) Upgraded to “Moderate Buy” at Raymond James Financial

Wintrust Financial (NASDAQ:WTFC) was upgraded by research analysts at Raymond James Financial to a “moderate buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms also recently commented on WTFC. Barclays lifted their target price on shares of Wintrust Financial from $190.00 to $192.00 and gave the stock an “overweight” rating in a research report on Tuesday. UBS Group restated a “neutral” rating and issued a $170.00 price objective on shares of Wintrust Financial in a report on Tuesday. Citigroup raised their target price on Wintrust Financial from $178.00 to $182.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. TD Cowen upped their price target on Wintrust Financial from $173.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Truist Financial decreased their price target on Wintrust Financial from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $172.17.

Wintrust Financial Price Performance

Shares of WTFC opened at $158.42 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. The stock has a market cap of $10.69 billion, a PE ratio of 13.28 and a beta of 0.84. Wintrust Financial has a 12-month low of $119.61 and a 12-month high of $164.00. The business has a 50-day simple moving average of $153.52 and a two-hundred day simple moving average of $147.92.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings results on Monday, April 20th. The bank reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.96 by $0.26. Wintrust Financial had a return on equity of 13.15% and a net margin of 20.11%.The firm had revenue of $713.17 million for the quarter, compared to analyst estimates of $707.23 million. During the same period last year, the firm posted $2.69 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts anticipate that Wintrust Financial will post 13.09 earnings per share for the current fiscal year.

Insider Transactions at Wintrust Financial

In related news, COO David A. Dykstra sold 9,579 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $148.82, for a total transaction of $1,425,546.78. Following the completion of the sale, the chief operating officer owned 179,810 shares in the company, valued at approximately $26,759,324.20. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David L. Stoehr sold 3,020 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $150.45, for a total transaction of $454,359.00. Following the completion of the transaction, the chief financial officer directly owned 13,213 shares in the company, valued at $1,987,895.85. This trade represents a 18.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,099 shares of company stock valued at $1,954,386 over the last three months. Corporate insiders own 1.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Reinhart Partners LLC. grew its holdings in shares of Wintrust Financial by 0.5% during the 2nd quarter. Reinhart Partners LLC. now owns 527,152 shares of the bank’s stock valued at $84,727,000 after purchasing an additional 2,592 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Wintrust Financial in the second quarter worth $49,000. GAMMA Investing LLC boosted its position in Wintrust Financial by 14.0% during the second quarter. GAMMA Investing LLC now owns 2,270 shares of the bank’s stock valued at $365,000 after buying an additional 278 shares during the period. Versant Capital Management Inc boosted its position in Wintrust Financial by 8.9% during the second quarter. Versant Capital Management Inc now owns 1,348 shares of the bank’s stock valued at $217,000 after buying an additional 110 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in Wintrust Financial by 2.6% during the first quarter. Glenmede Trust Co. NA now owns 11,872 shares of the bank’s stock valued at $1,649,000 after buying an additional 303 shares during the period. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

Wintrust Financial Company Profile

Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.

The firm’s core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.