Wintrust Financial (NASDAQ:WTFC) Price Target Lowered to $91.00 at Raymond James

Wintrust Financial (NASDAQ:WTFC) had its price objective reduced by Raymond James from $96.00 to $91.00 in a report released on Wednesday morning, PriceTargets.com reports. They currently have a strong-buy rating on the bank’s stock.

WTFC has been the subject of several other reports. Truist Securities upgraded shares of Wintrust Financial from a hold rating to a buy rating and boosted their target price for the company from $67.00 to $92.00 in a research note on Friday, May 21st. Wedbush reduced their price objective on shares of Wintrust Financial from $95.00 to $85.00 and set an outperform rating for the company in a research report on Tuesday. Zacks Investment Research cut shares of Wintrust Financial from a strong-buy rating to a hold rating in a research report on Friday, July 2nd. Truist upgraded shares of Wintrust Financial from a hold rating to a buy rating and upped their price objective for the stock from $67.00 to $92.00 in a research report on Friday, May 21st. Finally, Jefferies Financial Group upped their price objective on shares of Wintrust Financial from $75.00 to $85.00 and gave the stock a buy rating in a research report on Friday, April 9th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $81.89.

Shares of NASDAQ WTFC opened at $72.20 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.97 and a current ratio of 1.00. Wintrust Financial has a 12 month low of $37.28 and a 12 month high of $87.85. The company’s 50 day simple moving average is $77.41. The firm has a market cap of $4.12 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 0.59 and a beta of 1.60.

Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Sunday, July 18th. The bank reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.09. Wintrust Financial had a net margin of 24.71% and a return on equity of 12.50%. The firm had revenue of $408.96 million during the quarter, compared to analysts’ expectations of $423.10 million. During the same period in the previous year, the business posted $0.34 EPS. The business’s revenue was down 3.8% compared to the same quarter last year. Sell-side analysts forecast that Wintrust Financial will post 6.98 earnings per share for the current fiscal year.

In other news, CFO David L. Stoehr sold 3,590 shares of the company’s stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $81.95, for a total transaction of $294,200.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in WTFC. Norges Bank purchased a new stake in shares of Wintrust Financial during the fourth quarter worth $57,444,000. SummerHaven Investment Management LLC purchased a new stake in shares of Wintrust Financial in the fourth quarter valued at about $618,000. Alliancebernstein L.P. grew its holdings in shares of Wintrust Financial by 45.8% in the first quarter. Alliancebernstein L.P. now owns 1,640,829 shares of the bank’s stock valued at $124,375,000 after purchasing an additional 515,212 shares during the period. BlackRock Inc. grew its holdings in shares of Wintrust Financial by 6.0% in the first quarter. BlackRock Inc. now owns 5,530,501 shares of the bank’s stock valued at $419,212,000 after purchasing an additional 314,026 shares during the period. Finally, Kempen Capital Management N.V. purchased a new stake in shares of Wintrust Financial in the first quarter valued at about $18,670,000. 89.73% of the stock is owned by institutional investors and hedge funds.

Wintrust Financial Company Profile

Wintrust Financial Corp. is a bank holding company, which engages in the provision of banking and financial services. It operates through the following segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment provides community-oriented, personal and commercial banking services to customers located in its market area.

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Analyst Recommendations for Wintrust Financial (NASDAQ:WTFC)

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