TD Cowen Cuts Wintrust Financial (NASDAQ:WTFC) Price Target to $173.00

Wintrust Financial (NASDAQ:WTFC) had its target price cut by TD Cowen from $183.00 to $173.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other analysts also recently issued reports on WTFC. Citigroup lowered shares of Wintrust Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Brean Capital downgraded shares of Wintrust Financial from a “buy” rating to a “neutral” rating and set a $170.00 price objective on the stock. in a research report on Tuesday, July 21st. Truist Financial raised their target price on shares of Wintrust Financial from $170.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Raymond James Financial began coverage on shares of Wintrust Financial in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $180.00 target price for the company. Finally, Barclays lowered their price target on Wintrust Financial from $192.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.29.

Wintrust Financial Trading Down 1.7%

Wintrust Financial stock opened at $142.49 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.98 and a quick ratio of 0.97. Wintrust Financial has a one year low of $119.61 and a one year high of $167.21. The stock has a market capitalization of $9.61 billion, a PE ratio of 11.44 and a beta of 0.89. The business’s fifty day moving average is $152.30 and its 200 day moving average is $151.79.

Wintrust Financial (NASDAQ:WTFC) last issued its earnings results on Monday, July 20th. The bank reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.15. Wintrust Financial had a return on equity of 13.37% and a net margin of 20.72%.The business had revenue of $738.63 million during the quarter, compared to analyst estimates of $735.36 million. During the same quarter in the previous year, the firm earned $2.78 EPS. Wintrust Financial’s revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts predict that Wintrust Financial will post 13.12 EPS for the current year.

Wintrust Financial Announces Dividend

The firm also recently announced 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 yield of 1.5%. The ex-dividend date was Thursday, August 6th. Wintrust Financial’s payout ratio is 17.67%.

Insider Buying and Selling

In other Wintrust Financial news, COO David Dykstra sold 13,515 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $162.77, for a total value of $2,199,836.55. Following the transaction, the chief operating officer directly owned 166,449 shares in the company, valued at approximately $27,092,903.73. This trade represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.24% of the company’s stock.

Institutional Investors Weigh In On Wintrust Financial

A number of hedge funds have recently modified their holdings of WTFC. BlackRock Inc. purchased a new stake in shares of Wintrust Financial in the 2nd quarter worth $1,058,088,000. First Trust Advisors LP grew its holdings in Wintrust Financial by 26.6% during the first quarter. First Trust Advisors LP now owns 1,830,268 shares of the bank’s stock valued at $254,297,000 after purchasing an additional 385,069 shares during the period. Bank of America Corp DE bought a new stake in Wintrust Financial during the second quarter valued at about $168,021,000. Bank of New York Mellon Corp raised its stake in Wintrust Financial by 13.2% during the 1st quarter. Bank of New York Mellon Corp now owns 595,830 shares of the bank’s stock worth $82,785,000 after acquiring an additional 69,444 shares during the period. Finally, Clark Capital Management Group Inc. boosted its position in shares of Wintrust Financial by 3.0% in the fourth quarter. Clark Capital Management Group Inc. now owns 589,731 shares of the bank’s stock worth $82,456,000 after purchasing an additional 16,915 shares during the period. Institutional investors own 93.48% of the company’s stock.

Wintrust Financial Company Profile

Wintrust Financial Corporation (NASDAQ: WTFC) is a financial holding company headquartered in Rosemont, Illinois. Founded in 1991, the company operates a network of community banks serving individuals, families and businesses primarily in the Chicago metropolitan area, southern Wisconsin and northwest Indiana.

Wintrust’s banking subsidiaries provide deposit accounts, commercial and consumer lending, residential mortgages, treasury management, trust and investment services, and other traditional banking products.