Truist Financial Boosts Wintrust Financial (NASDAQ:WTFC) Price Target to $123.00

Wintrust Financial (NASDAQ:WTFC) had its target price hoisted by Truist Financial from $118.00 to $123.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the bank’s stock.

Several other equities analysts have also recently issued reports on the company. Stephens reissued an overweight rating and issued a $115.00 price objective on shares of Wintrust Financial in a report on Thursday, July 18th. Jefferies Financial Group decreased their price target on Wintrust Financial from $118.00 to $116.00 and set a buy rating for the company in a report on Wednesday, July 3rd. Royal Bank of Canada raised their price objective on shares of Wintrust Financial from $116.00 to $117.00 and gave the stock an outperform rating in a research note on Tuesday, July 9th. DA Davidson boosted their target price on shares of Wintrust Financial from $120.00 to $125.00 and gave the company a buy rating in a research note on Friday, July 19th. Finally, Wedbush increased their price target on shares of Wintrust Financial from $115.00 to $130.00 and gave the stock an outperform rating in a report on Thursday, July 18th. Three equities research 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. Based on data from MarketBeat, Wintrust Financial presently has an average rating of Moderate Buy and a consensus price target of $118.23.

Wintrust Financial Stock Performance

WTFC opened at $108.21 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. Wintrust Financial has a 12-month low of $71.86 and a 12-month high of $113.68. The firm has a 50 day moving average of $104.87 and a two-hundred day moving average of $100.69. The firm has a market capitalization of $6.68 billion, a PE ratio of 11.19 and a beta of 1.16.

Wintrust Financial (NASDAQ:WTFC) last issued its earnings results 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). Wintrust Financial had a return on equity of 12.71% and a net margin of 17.02%. The business had revenue of $591.76 million for the quarter, compared to analysts’ expectations of $587.33 million. During the same period last year, the business earned $2.38 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts anticipate that Wintrust Financial will post 10.11 EPS for the current year.

Wintrust Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.66%. The ex-dividend date was Thursday, August 8th. Wintrust Financial’s payout ratio is 18.61%.

Hedge Funds Weigh In On Wintrust Financial

A number of hedge funds have recently made changes to their positions in WTFC. Johnson Financial Group Inc. acquired a new position in Wintrust Financial in the 4th quarter valued at $25,000. Concord Wealth Partners purchased a new position in shares of Wintrust Financial in the first quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new position in Wintrust Financial during the first quarter worth about $27,000. Versant Capital Management Inc grew its stake in Wintrust Financial by 825.0% during the 2nd quarter. Versant Capital Management Inc now owns 296 shares of the bank’s stock valued at $29,000 after acquiring an additional 264 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. grew its stake in Wintrust Financial by 70.0% during the 1st quarter. DHJJ Financial Advisors Ltd. now owns 488 shares of the bank’s stock valued at $51,000 after acquiring an additional 201 shares in the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.

Wintrust Financial Company Profile

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.