DA Davidson Trims Wintrust Financial (NASDAQ:WTFC) Target Price to $110.00

Wintrust Financial (NASDAQ:WTFC – Get Rating) had its price objective lowered by research analysts at DA Davidson from $120.00 to $110.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has a “buy” rating on the bank’s stock. DA Davidson’s target price points to a potential upside of 26.10% from the stock’s current price. DA Davidson also issued estimates for Wintrust Financial’s Q1 2023 earnings at $2.60 EPS and FY2023 earnings at $11.60 EPS.

Other equities research analysts have also issued research reports about the stock. Piper Sandler raised their target price on shares of Wintrust Financial from $107.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 20th. Raymond James raised their target price on shares of Wintrust Financial from $111.00 to $118.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 20th. Royal Bank of Canada raised their price target on shares of Wintrust Financial from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, October 20th. StockNews.com downgraded shares of Wintrust Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 19th. Finally, Wedbush raised their target price on shares of Wintrust Financial from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, October 19th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $108.78.

Wintrust Financial Price Performance

WTFC stock opened at $87.23 on Friday. Wintrust Financial has a 52 week low of $76.13 and a 52 week high of $105.56. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.82. The company has a fifty day simple moving average of $86.00 and a two-hundred day simple moving average of $86.53. The firm has a market capitalization of $5.30 billion, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 0.48 and a beta of 1.19.

Insider Transactions at Wintrust Financial

In related news, CFO David L. Stoehr sold 2,215 shares of Wintrust Financial stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $92.45, for a total value of $204,776.75. Following the completion of the sale, the chief financial officer now directly owns 11,266 shares in the company, valued at approximately $1,041,541.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.41% of the company’s stock.

Institutional Trading of Wintrust Financial

Institutional investors have recently bought and sold shares of the stock. Cibc World Market Inc. boosted its stake in Wintrust Financial by 8.5% in the 2nd quarter. Cibc World Market Inc. now owns 28,514 shares of the bank’s stock worth $2,285,000 after purchasing an additional 2,231 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Wintrust Financial during the 2nd quarter valued at approximately $1,074,000. Walleye Capital LLC lifted its stake in Wintrust Financial by 254.2% during the 2nd quarter. Walleye Capital LLC now owns 49,068 shares of the bank’s stock valued at $3,933,000 after acquiring an additional 35,215 shares during the period. Treasurer of the State of North Carolina lifted its stake in Wintrust Financial by 21.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 25,343 shares of the bank’s stock valued at $2,031,000 after acquiring an additional 4,471 shares during the period. Finally, Intrust Bank NA lifted its stake in Wintrust Financial by 6.6% during the 2nd quarter. Intrust Bank NA now owns 5,073 shares of the bank’s stock valued at $407,000 after acquiring an additional 312 shares during the period. 89.47% of the stock is currently owned by institutional investors and hedge funds.

About Wintrust Financial

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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.