Wintrust Financial (NASDAQ:WTFC) Hits New 52-Week High at $102.32

Wintrust Financial Co. (NASDAQ:WTFC) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $102.32 and last traded at $101.65, with a volume of 21315 shares changing hands. The stock had previously closed at $100.92.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Wintrust Financial from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Truist Financial raised their target price on Wintrust Financial from $105.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Citigroup raised their price target on shares of Wintrust Financial from $114.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. UBS Group increased their target price on Wintrust Financial from $105.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, Barclays assumed coverage on Wintrust Financial in a research report on Friday, March 8th. They issued an “overweight” rating and a $135.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $107.17.

Wintrust Financial Stock Performance

The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 10.90 and a beta of 1.20. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $97.29 and a 200-day simple moving average of $88.18.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings results on Thursday, January 18th. The bank reported $1.87 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.55). Wintrust Financial had a return on equity of 13.23% and a net margin of 18.71%. The business had revenue of $570.80 million for the quarter, compared to analyst estimates of $578.89 million. During the same quarter in the prior year, the firm earned $2.23 EPS. Analysts forecast that Wintrust Financial Co. will post 9.95 EPS for the current fiscal year.

Wintrust Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.80 dividend on an annualized basis and a yield of 1.72%. This is a boost from Wintrust Financial’s previous quarterly dividend of $0.40. Wintrust Financial’s dividend payout ratio (DPR) is 18.79%.

Insider Buying and Selling

In other Wintrust Financial news, insider Edward J. Wehmer sold 9,500 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $99.36, for a total transaction of $943,920.00. Following the completion of the transaction, the insider now owns 177,124 shares in the company, valued at approximately $17,599,040.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Jeffrey D. Hahnfeld sold 588 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $97.88, for a total transaction of $57,553.44. Following the sale, the executive vice president now owns 3,410 shares in the company, valued at approximately $333,770.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Edward J. Wehmer sold 9,500 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $99.36, for a total transaction of $943,920.00. Following the transaction, the insider now owns 177,124 shares in the company, valued at $17,599,040.64. The disclosure for this sale can be found here. 1.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Wintrust Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of WTFC. Sei Investments Co. boosted its holdings in shares of Wintrust Financial by 77.4% during the 2nd quarter. Sei Investments Co. now owns 110,545 shares of the bank’s stock worth $8,028,000 after buying an additional 48,214 shares during the period. UBS Group AG grew its position in shares of Wintrust Financial by 61.3% in the third quarter. UBS Group AG now owns 32,210 shares of the bank’s stock valued at $2,432,000 after purchasing an additional 12,243 shares during the last quarter. abrdn plc increased its stake in shares of Wintrust Financial by 24.6% during the third quarter. abrdn plc now owns 344,631 shares of the bank’s stock worth $26,020,000 after purchasing an additional 68,042 shares during the period. Northern Trust Corp lifted its holdings in Wintrust Financial by 25.6% during the 2nd quarter. Northern Trust Corp now owns 576,427 shares of the bank’s stock worth $41,860,000 after purchasing an additional 117,659 shares during the last quarter. Finally, Boston Partners boosted its stake in Wintrust Financial by 13.4% in the 3rd quarter. Boston Partners now owns 644,050 shares of the bank’s stock valued at $48,549,000 after purchasing an additional 75,994 shares during the period. Institutional investors own 93.48% of the company’s stock.

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.