Wintrust Financial (NASDAQ:WTFC) Reaches New 52-Week High – Time to Buy?

Wintrust Financial Corporation (NASDAQ:WTFC)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $164.00 and last traded at $163.7290, with a volume of 160762 shares changing hands. The stock had previously closed at $162.36.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. TD Cowen increased their price objective on shares of Wintrust Financial from $173.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Piper Sandler reissued an “overweight” rating and issued a $188.00 price objective (up from $184.00) on shares of Wintrust Financial in a research report on Wednesday, April 22nd. Barclays upped their target price on Wintrust Financial from $190.00 to $192.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Stephens initiated coverage on Wintrust Financial in a research note on Friday, March 27th. They set an “equal weight” rating and a $160.00 target price for the company. Finally, UBS Group restated a “neutral” rating and set a $170.00 price target on shares of Wintrust Financial in a report on Tuesday, July 7th. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.92.

Wintrust Financial Price Performance

The business has a 50-day moving average of $154.47 and a 200 day moving average of $148.44. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $11.00 billion, a P/E ratio of 13.71 and a beta of 0.84.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings results on Monday, April 20th. The bank reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.26. Wintrust Financial had a return on equity of 13.15% and a net margin of 20.11%.The business had revenue of $713.17 million for the quarter, compared to analyst estimates of $707.23 million. During the same quarter in the prior year, the company earned $2.69 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts predict that Wintrust Financial Corporation will post 13.03 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Suzet M. Mckinney sold 500 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $148.96, for a total transaction of $74,480.00. Following the completion of the sale, the director directly owned 3,303 shares of the company’s stock, valued at $492,014.88. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO David A. Dykstra sold 9,579 shares of the company’s stock in a transaction dated 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 $26,759,324.20. This represents a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 13,099 shares of company stock worth $1,954,386 over the last three months. 1.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wintrust Financial

Hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in shares of Wintrust Financial in the 1st quarter worth $27,000. Elyxium Wealth LLC bought a new position in shares of Wintrust Financial during the fourth quarter valued at about $31,000. Creative Financial Designs Inc. ADV boosted its holdings in Wintrust Financial by 231.9% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank’s stock worth $32,000 after purchasing an additional 160 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Wintrust Financial by 72.7% during the fourth quarter. Harbour Investments Inc. now owns 240 shares of the bank’s stock worth $34,000 after purchasing an additional 101 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Wintrust Financial in the first quarter valued at approximately $35,000. 93.48% of the stock is 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.