Truist Financial Trims Wintrust Financial (NASDAQ:WTFC) Target Price to $107.00

Wintrust Financial (NASDAQ:WTFC) had its price objective cut by Truist Financial from $112.00 to $107.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the bank’s stock.

Several other equities research analysts have also issued reports on WTFC. StockNews.com raised shares of Wintrust Financial from a sell rating to a hold rating in a research report on Thursday, April 18th. Hovde Group reiterated a market perform rating and set a $100.00 target price on shares of Wintrust Financial in a report on Friday, June 21st. Royal Bank of Canada upped their price target on Wintrust Financial from $109.00 to $116.00 and gave the stock an outperform rating in a report on Tuesday, April 9th. Wedbush reiterated an outperform rating and set a $116.00 price objective on shares of Wintrust Financial in a research note on Thursday, April 18th. Finally, Citigroup cut their target price on Wintrust Financial from $115.00 to $113.00 and set a buy rating on the stock in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $110.77.

Wintrust Financial Trading Up 1.6 %

Shares of NASDAQ:WTFC opened at $100.16 on Monday. Wintrust Financial has a 52 week low of $71.86 and a 52 week high of $105.29. The company’s 50 day moving average is $97.60 and its two-hundred day moving average is $97.16. The company has a market cap of $6.18 billion, a PE ratio of 10.36 and a beta of 1.18. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.78.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.47. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. The company had revenue of $604.77 million for the quarter, compared to analyst estimates of $577.80 million. During the same quarter in the previous year, the company earned $2.80 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts predict that Wintrust Financial will post 10.11 earnings per share for the current fiscal year.

Wintrust Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Wednesday, May 8th. Wintrust Financial’s payout ratio is presently 18.61%.

Institutional Trading of Wintrust Financial

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Johnson Financial Group Inc. acquired a new position in shares of Wintrust Financial in the 4th quarter valued at approximately $25,000. Concord Wealth Partners bought a new position in Wintrust Financial in the first quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Wintrust Financial in the first quarter valued at approximately $27,000. Versant Capital Management Inc increased its position in shares of Wintrust Financial by 825.0% during the second quarter. Versant Capital Management Inc now owns 296 shares of the bank’s stock worth $29,000 after acquiring an additional 264 shares in the last quarter. Finally, Quent Capital LLC increased its position in shares of Wintrust Financial by 120.8% during the fourth quarter. Quent Capital LLC now owns 351 shares of the bank’s stock worth $33,000 after acquiring an additional 192 shares in the last quarter. 93.48% of the stock is owned by institutional investors.

About Wintrust Financial

Wintrust Financial Corporation operates as a financial holding company. It operates in three segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment offers non-interest bearing deposits, non-brokered interest-bearing transaction accounts, and savings and domestic time deposits; home equity, consumer, and real estate loans; safe deposit facilities; and automatic teller machine (ATM), online and mobile banking, and other services.