Wintrust Financial (NASDAQ:WTFC) Rating Increased to Strong-Buy at Truist Financial

Truist Financial upgraded shares of Wintrust Financial (NASDAQ:WTFC) to a strong-buy rating in a report issued on Monday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Barclays increased their price objective on shares of Wintrust Financial from $130.00 to $151.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Citigroup increased their target price on Wintrust Financial from $126.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and set a $130.00 price target on shares of Wintrust Financial in a report on Tuesday, October 22nd. StockNews.com lowered Wintrust Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Finally, Raymond James boosted their price objective on shares of Wintrust Financial from $125.00 to $135.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $128.00.

Wintrust Financial Stock Down 0.1 %

Shares of NASDAQ WTFC opened at $127.58 on Monday. The stock has a market cap of $8.48 billion, a P/E ratio of 13.36 and a beta of 1.20. The business’s fifty day simple moving average is $129.41 and its 200-day simple moving average is $113.82. Wintrust Financial has a 12-month low of $89.68 and a 12-month high of $142.04. 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 posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $623.45 million. During the same period in the prior year, the business earned $2.53 EPS. Wintrust Financial’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts predict that Wintrust Financial will post 10.12 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, November 7th. Wintrust Financial’s dividend payout ratio (DPR) is presently 18.85%.

Insiders Place Their Bets

In related news, insider Richard B. Murphy sold 4,099 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $115.63, for a total transaction of $473,967.37. Following the completion of the transaction, the insider now directly owns 42,311 shares of the company’s stock, valued at $4,892,420.93. This represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO David A. Dykstra sold 15,492 shares of Wintrust Financial stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $115.48, for a total value of $1,789,016.16. Following the completion of the sale, the chief operating officer now directly owns 197,591 shares in the company, valued at $22,817,808.68. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,198 shares of company stock valued at $2,445,314. 1.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wintrust Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of WTFC. FMR LLC increased its holdings in Wintrust Financial by 14.1% during the 3rd quarter. FMR LLC now owns 5,153,999 shares of the bank’s stock valued at $559,364,000 after acquiring an additional 637,072 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Wintrust Financial by 36.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 802,841 shares of the bank’s stock valued at $87,132,000 after purchasing an additional 213,559 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Wintrust Financial by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock worth $297,376,000 after buying an additional 146,090 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Wintrust Financial by 11.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,308,254 shares of the bank’s stock valued at $141,981,000 after buying an additional 133,311 shares during the period. Finally, State Street Corp increased its stake in shares of Wintrust Financial by 5.1% during the 3rd quarter. State Street Corp now owns 2,627,561 shares of the bank’s stock valued at $285,169,000 after acquiring an additional 126,724 shares during 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.