Keefe, Bruyette & Woods Lowers Wintrust Financial (NASDAQ:WTFC) to Market Perform

Keefe, Bruyette & Woods lowered shares of Wintrust Financial (NASDAQ:WTFC) from an outperform rating to a market perform rating in a research report released on Friday, MarketBeat.com reports. Keefe, Bruyette & Woods currently has $115.00 price target on the bank’s stock, up from their previous price target of $110.00.

Other equities analysts also recently issued research reports about the stock. Citigroup dropped their price target on shares of Wintrust Financial from $115.00 to $113.00 and set a buy rating for the company in a research note on Monday, April 22nd. Barclays lowered their target price on Wintrust Financial from $135.00 to $130.00 and set an overweight rating for the company in a research report on Friday, April 19th. Jefferies Financial Group reduced their price target on Wintrust Financial from $118.00 to $116.00 and set a buy rating on the stock in a research report on Wednesday, July 3rd. Truist Financial lowered their price objective on Wintrust Financial from $112.00 to $107.00 and set a buy rating for the company in a research report on Monday, July 8th. Finally, Royal Bank of Canada upped their target price on Wintrust Financial from $116.00 to $117.00 and gave the company an outperform rating in a report on Tuesday, July 9th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wintrust Financial presently has an average rating of Moderate Buy and an average target price of $117.00.

Wintrust Financial Price Performance

Shares of WTFC opened at $105.02 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.85. The stock has a market cap of $6.48 billion, a PE ratio of 10.86 and a beta of 1.18. Wintrust Financial has a 12-month low of $71.86 and a 12-month high of $113.68. The business has a 50-day simple moving average of $98.47 and a two-hundred day simple moving average of $97.88.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings data on Wednesday, July 17th. The bank reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.10). The firm had revenue of $591.76 million during the quarter, compared to analyst estimates of $587.33 million. Wintrust Financial had a net margin of 17.02% and a return on equity of 12.71%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.38 EPS. Analysts anticipate that Wintrust Financial will post 10.1 earnings per share for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Wednesday, May 8th. Wintrust Financial’s payout ratio is 18.61%.

Institutional Trading of Wintrust Financial

Hedge funds have recently modified their holdings of the stock. Shaker Investments LLC OH grew its holdings in Wintrust Financial by 0.3% in the first quarter. Shaker Investments LLC OH now owns 34,256 shares of the bank’s stock worth $3,576,000 after purchasing an additional 112 shares during the period. Oliver Luxxe Assets LLC boosted its position in shares of Wintrust Financial by 1.7% during the 1st quarter. Oliver Luxxe Assets LLC now owns 9,290 shares of the bank’s stock worth $970,000 after purchasing an additional 157 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Wintrust Financial by 14.4% in the 2nd quarter. Blue Trust Inc. now owns 1,431 shares of the bank’s stock valued at $149,000 after buying an additional 180 shares during the period. Quent Capital LLC increased its position in Wintrust Financial by 120.8% in the 4th quarter. Quent Capital LLC now owns 351 shares of the bank’s stock valued at $33,000 after buying an additional 192 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in Wintrust Financial by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 76,896 shares of the bank’s stock worth $8,027,000 after buying an additional 200 shares during the period. Institutional investors own 93.48% of the company’s stock.

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.