Wintrust Financial (NASDAQ:WTFC) PT Raised to $116.00 at Royal Bank of Canada

Wintrust Financial (NASDAQ:WTFC) had its price target increased by investment analysts at Royal Bank of Canada from $109.00 to $116.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the bank’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 18.09% from the company’s previous close.

Several other brokerages have also commented on WTFC. Citigroup raised their price objective on Wintrust Financial from $114.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Wintrust Financial in a research report on Thursday, January 18th. Jefferies Financial Group lifted their price target on Wintrust Financial from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group lifted their price target on Wintrust Financial from $105.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on Wintrust Financial from $103.00 to $106.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wintrust Financial has a consensus rating of “Moderate Buy” and a consensus price target of $111.17.

Wintrust Financial Price Performance

Shares of Wintrust Financial stock opened at $98.23 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.73. The company has a market cap of $6.06 billion, a PE ratio of 10.25 and a beta of 1.21. The business has a 50 day moving average of $97.72 and a 200 day moving average of $89.82. Wintrust Financial has a 52 week low of $58.12 and a 52 week high of $105.29.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $1.87 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.55). The firm had revenue of $570.80 million for the quarter, compared to analysts’ expectations of $578.89 million. Wintrust Financial had a net margin of 18.71% and a return on equity of 13.23%. During the same period in the prior year, the business posted $2.23 EPS. As a group, equities research analysts forecast that Wintrust Financial will post 9.93 earnings per share for the current year.

Insider Buying and Selling at Wintrust Financial

In other news, EVP Jeffrey D. Hahnfeld sold 588 shares of Wintrust Financial stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $97.88, for a total transaction of $57,553.44. Following the transaction, the executive vice president now directly owns 3,410 shares of the company’s stock, valued at approximately $333,770.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Edward J. Wehmer sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $99.36, for a total value of $943,920.00. Following the transaction, the insider now directly owns 177,124 shares of the company’s stock, valued at approximately $17,599,040.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $57,553.44. Following the sale, the executive vice president now directly owns 3,410 shares in the company, valued at $333,770.80. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

Institutional Trading of Wintrust Financial

Several hedge funds have recently modified their holdings of WTFC. UBS Group AG increased its position in shares of Wintrust Financial by 61.3% during the 3rd 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 position in shares of Wintrust Financial by 24.6% during the 3rd quarter. abrdn plc now owns 344,631 shares of the bank’s stock valued at $26,020,000 after purchasing an additional 68,042 shares during the last quarter. Boston Partners increased its position in shares of Wintrust Financial by 13.4% during 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 last quarter. Virginia Retirement Systems ET AL bought a new position in Wintrust Financial in the 2nd quarter valued at $1,133,000. Finally, Oliver Luxxe Assets LLC bought a new position in Wintrust Financial in the 3rd quarter valued at $476,000. 93.48% of the stock is owned by hedge funds and other institutional investors.

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.