Piper Sandler Raises Wintrust Financial (NASDAQ:WTFC) Price Target to $136.00

Wintrust Financial (NASDAQ:WTFC) had its price objective raised by Piper Sandler from $131.00 to $136.00 in a research note published on Wednesday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.

Several other analysts have also recently issued reports on WTFC. Jefferies Financial Group decreased their price objective on Wintrust Financial from $118.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Royal Bank of Canada lifted 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. Citigroup upped their target price on shares of Wintrust Financial from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $130.00 price target on shares of Wintrust Financial in a research report on Tuesday, October 22nd. Finally, DA Davidson lifted their price objective on shares of Wintrust Financial from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Wintrust Financial Price Performance

Shares of NASDAQ:WTFC opened at $113.02 on Wednesday. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 11.69 and a beta of 1.16. The firm has a fifty day moving average price of $107.69 and a 200 day moving average price of $102.33. Wintrust Financial has a fifty-two week low of $72.14 and a fifty-two week high of $117.77. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.99 and a current ratio of 1.02.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings data on Monday, October 21st. The bank reported $2.47 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.03). The company had revenue of $615.73 million for the quarter, compared to the consensus estimate of $623.45 million. Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company earned $2.53 EPS. As a group, sell-side analysts expect that Wintrust Financial will post 10.11 earnings per share for the current fiscal year.

Wintrust Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, November 7th. Wintrust Financial’s dividend payout ratio (DPR) is presently 18.61%.

Insiders Place Their Bets

In related news, CFO David L. Stoehr sold 1,607 shares of Wintrust Financial stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $113.46, for a total value of $182,330.22. Following the completion of the sale, the chief financial officer now directly owns 14,874 shares in the company, valued at $1,687,604.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.47% of the company’s stock.

Hedge Funds Weigh In On Wintrust Financial

Several institutional investors have recently bought and sold shares of WTFC. Vanguard Group Inc. raised its holdings in Wintrust Financial by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock worth $673,603,000 after purchasing an additional 244,168 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Wintrust Financial by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock worth $297,376,000 after acquiring an additional 146,090 shares in the last quarter. Capital International Investors lifted its position in Wintrust Financial by 4.6% during the first quarter. Capital International Investors now owns 1,638,085 shares of the bank’s stock valued at $171,000,000 after acquiring an additional 72,082 shares during the last quarter. Federated Hermes Inc. boosted its stake in Wintrust Financial by 1.8% in the second quarter. Federated Hermes Inc. now owns 815,466 shares of the bank’s stock valued at $80,372,000 after acquiring an additional 14,087 shares in the last quarter. Finally, Reinhart Partners LLC. grew its holdings in Wintrust Financial by 6.4% in the third quarter. Reinhart Partners LLC. now owns 781,393 shares of the bank’s stock worth $84,805,000 after purchasing an additional 47,242 shares during the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

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.