TD Cowen Cuts Wintrust Financial (NASDAQ:WTFC) Price Target to $183.00

Wintrust Financial (NASDAQ:WTFC) had its target price cut by TD Cowen from $184.00 to $183.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other brokerages have also commented on WTFC. Stephens began coverage on Wintrust Financial in a research note on Friday, March 27th. They set an “equal weight” rating and a $160.00 price target on the stock. Barclays raised their price objective on shares of Wintrust Financial from $190.00 to $192.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Raymond James Financial initiated coverage on shares of Wintrust Financial in a research report on Tuesday, July 7th. They set an “outperform” rating and a $180.00 target price on the stock. Brean Capital cut shares of Wintrust Financial from a “buy” rating to a “neutral” rating and set a $170.00 price target for the company. in a research report on Tuesday. Finally, Royal Bank Of Canada raised their price target on shares of Wintrust Financial from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.77.

Wintrust Financial Stock Up 0.6%

Shares of WTFC opened at $158.66 on Wednesday. Wintrust Financial has a 52 week low of $119.61 and a 52 week high of $167.21. The stock has a market capitalization of $10.70 billion, a price-to-earnings ratio of 12.74 and a beta of 0.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 0.98. The stock has a fifty day moving average of $156.44 and a 200-day moving average of $149.50.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings data on Monday, July 20th. The bank reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.15. The company had revenue of $738.63 million for the quarter, compared to the consensus estimate of $735.36 million. Wintrust Financial had a return on equity of 13.37% and a net margin of 20.72%.Wintrust Financial’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $2.78 EPS. As a group, sell-side analysts anticipate that Wintrust Financial will post 13.03 earnings per share for the current fiscal year.

Wintrust Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, August 6th. Wintrust Financial’s dividend payout ratio (DPR) is presently 17.67%.

Insider Buying and Selling at Wintrust Financial

In related news, COO David A. Dykstra sold 9,579 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 179,810 shares of the company’s stock, valued at approximately $26,759,324.20. This represents a 5.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Suzet M. Mckinney sold 500 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $148.96, for a total value of $74,480.00. Following the completion of the transaction, the director owned 3,303 shares in the company, valued at approximately $492,014.88. The trade was a 13.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.24% of the company’s stock.

Institutional Investors Weigh In On Wintrust Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP lifted its holdings in shares of Wintrust Financial by 26.6% in the 1st quarter. First Trust Advisors LP now owns 1,830,268 shares of the bank’s stock worth $254,297,000 after purchasing an additional 385,069 shares in the last quarter. Geode Capital Management LLC increased its stake in Wintrust Financial by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,273,042 shares of the bank’s stock valued at $178,038,000 after purchasing an additional 16,997 shares in the last quarter. Bank of America Corp DE increased its stake in Wintrust Financial by 1.4% during the 3rd quarter. Bank of America Corp DE now owns 1,071,763 shares of the bank’s stock valued at $141,944,000 after purchasing an additional 15,044 shares in the last quarter. Wellington Management Group LLP raised its holdings in Wintrust Financial by 22.2% during the fourth quarter. Wellington Management Group LLP now owns 832,352 shares of the bank’s stock worth $116,379,000 after buying an additional 151,385 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Wintrust Financial in the fourth quarter valued at $111,924,000. Institutional investors own 93.48% of the company’s stock.

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.