Brokerages Set Wintrust Financial Corporation (NASDAQ:WTFC) Target Price at $177.77

Shares of Wintrust Financial Corporation (NASDAQ:WTFC) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $177.7692.

A number of research firms recently weighed in on WTFC. DA Davidson boosted their target price on Wintrust Financial from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Citigroup downgraded Wintrust Financial from a “buy” rating to a “hold” rating in a report on Tuesday, July 21st. Truist Financial raised their price target on shares of Wintrust Financial from $170.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Piper Sandler set a $186.00 target price on shares of Wintrust Financial in a report on Wednesday, July 22nd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $170.00 price target on shares of Wintrust Financial in a research note on Tuesday, July 7th.

Insiders Place Their Bets

In other Wintrust Financial news, COO David A. Dykstra sold 13,515 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $162.77, for a total transaction of $2,199,836.55. Following the completion of the transaction, the chief operating officer owned 166,449 shares of the company’s stock, valued at approximately $27,092,903.73. The trade was a 7.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wintrust Financial

A number of hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its stake in Wintrust Financial by 15,788.5% in the 2nd quarter. California State Teachers Retirement System now owns 12,508,355 shares of the bank’s stock valued at $2,010,343,000 after purchasing an additional 12,429,629 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Wintrust Financial during the second quarter worth $1,058,088,000. First Trust Advisors LP increased its holdings in shares of Wintrust Financial by 26.6% during the first quarter. First Trust Advisors LP now owns 1,830,268 shares of the bank’s stock worth $254,297,000 after buying an additional 385,069 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Wintrust Financial by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,273,042 shares of the bank’s stock worth $178,038,000 after buying an additional 16,997 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Wintrust Financial by 1.4% in 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 acquiring an additional 15,044 shares during the last quarter. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Wintrust Financial Stock Performance

Shares of WTFC opened at $151.99 on Tuesday. 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 fifty day simple moving average of $159.70 and a 200 day simple moving average of $151.30. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 12.21 and a beta of 0.85. Wintrust Financial has a 12 month low of $119.61 and a 12 month high of $167.21.

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

Wintrust Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Thursday, August 6th. Wintrust Financial’s dividend payout ratio is currently 17.67%.

About Wintrust Financial

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.