Wintrust Financial (NASDAQ:WTFC) Stock Rating Upgraded by Truist Financial

Wintrust Financial (NASDAQ:WTFC) was upgraded by equities researchers at Truist Financial to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research firms have also commented on WTFC. Raymond James boosted their price objective on Wintrust Financial from $125.00 to $135.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 23rd. Piper Sandler raised their price target on Wintrust Financial from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. DA Davidson boosted their price objective on shares of Wintrust Financial from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup raised their target price on shares of Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Barclays raised their price target on Wintrust Financial from $130.00 to $151.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.00.

Wintrust Financial Trading Down 0.1 %

Shares of NASDAQ:WTFC opened at $127.58 on Monday. The company has a market cap of $8.48 billion, a PE ratio of 13.36 and a beta of 1.20. Wintrust Financial has a 12-month low of $89.68 and a 12-month high of $142.04. The stock has a 50 day moving average of $129.41 and a 200 day moving average of $113.82. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.73.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings data on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.03). Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. The company had revenue of $615.73 million for the quarter, compared to analysts’ expectations of $623.45 million. During the same period last year, the business earned $2.53 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Wintrust Financial will post 10.12 EPS for the current year.

Insider Activity at Wintrust Financial

In other news, insider Richard B. Murphy sold 4,099 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $115.63, for a total transaction of $473,967.37. Following the sale, the insider now owns 42,311 shares in the company, valued at approximately $4,892,420.93. The trade was a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David A. Dykstra sold 15,492 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $115.48, for a total transaction of $1,789,016.16. Following the transaction, the chief operating officer now owns 197,591 shares in the company, valued at approximately $22,817,808.68. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,198 shares of company stock valued at $2,445,314 over the last 90 days. Insiders own 1.47% of the company’s stock.

Institutional Investors Weigh In On Wintrust Financial

A number of large investors have recently made changes to their positions in WTFC. Commonwealth Equity Services LLC increased its holdings in shares of Wintrust Financial by 2.5% in the second quarter. Commonwealth Equity Services LLC now owns 9,058 shares of the bank’s stock valued at $893,000 after purchasing an additional 224 shares during the period. Arizona State Retirement System grew its position in Wintrust Financial by 2.7% during the 2nd quarter. Arizona State Retirement System now owns 17,286 shares of the bank’s stock worth $1,704,000 after purchasing an additional 457 shares during the period. Choreo LLC acquired a new position in shares of Wintrust Financial in the 2nd quarter valued at about $1,115,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Wintrust Financial in the second quarter worth about $1,555,000. Finally, Vest Financial LLC grew its holdings in Wintrust Financial by 38.9% during the second quarter. Vest Financial LLC now owns 11,794 shares of the bank’s stock worth $1,162,000 after acquiring an additional 3,300 shares during the period. 93.48% of the stock is owned by hedge funds and other 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.