Wintrust Financial (NASDAQ:WTFC) Given New $113.00 Price Target at Citigroup

Wintrust Financial (NASDAQ:WTFC) had its target price reduced by Citigroup from $115.00 to $113.00 in a research note issued to investors on Monday morning, Benzinga reports. Citigroup currently has a buy rating on the bank’s stock.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada raised their price objective on shares of Wintrust Financial from $109.00 to $116.00 and gave the company an outperform rating in a research report on Tuesday, April 9th. StockNews.com upgraded shares of Wintrust Financial from a sell rating to a hold rating in a research report on Thursday, April 18th. Barclays cut their price objective on shares of Wintrust Financial from $135.00 to $130.00 and set an overweight rating for the company in a research report on Friday. Wedbush restated an outperform rating and issued a $116.00 price objective on shares of Wintrust Financial in a research report on Thursday, April 18th. Finally, Truist Financial raised their price objective on shares of Wintrust Financial from $111.00 to $117.00 and gave the company a buy rating in a research report on Monday, April 1st. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Wintrust Financial currently has an average rating of Buy and an average target price of $112.33.

Wintrust Financial Price Performance

WTFC opened at $99.30 on Monday. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 10.27 and a beta of 1.21. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average price of $98.25 and a 200-day moving average price of $91.16. Wintrust Financial has a twelve month low of $58.12 and a twelve month high of $105.29.

Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Thursday, April 18th. The bank reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.47. The firm had revenue of $604.77 million during the quarter, compared to the consensus estimate of $577.80 million. Wintrust Financial had a net margin of 17.86% and a return on equity of 13.09%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $2.80 earnings per share. Equities analysts expect that Wintrust Financial will post 10.02 EPS for the current year.

Wintrust Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from Wintrust Financial’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, February 7th. Wintrust Financial’s payout ratio is presently 18.61%.

Insider Transactions at Wintrust Financial

In other news, EVP Jeffrey D. Hahnfeld sold 588 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $97.88, for a total value of $57,553.44. Following the completion of the sale, the executive vice president now directly 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 this hyperlink. In related news, EVP Jeffrey D. Hahnfeld sold 588 shares of Wintrust Financial stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $97.88, for a total value of $57,553.44. Following the transaction, the executive vice president now directly owns 3,410 shares of the company’s stock, valued at $333,770.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Edward J. Wehmer sold 9,500 shares of Wintrust Financial stock in a transaction on 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 directly owns 177,124 shares in the company, valued at $17,599,040.64. The disclosure for this sale can be found here. Company insiders own 1.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Treasurer of the State of North Carolina increased its stake in shares of Wintrust Financial by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 26,713 shares of the bank’s stock worth $2,017,000 after buying an additional 140 shares during the period. Signaturefd LLC increased its stake in shares of Wintrust Financial by 5.3% in the third quarter. Signaturefd LLC now owns 3,028 shares of the bank’s stock worth $229,000 after buying an additional 153 shares during the period. Oliver Luxxe Assets LLC increased its position in Wintrust Financial by 1.7% during the 1st quarter. Oliver Luxxe Assets LLC now owns 9,290 shares of the bank’s stock valued at $970,000 after purchasing an additional 157 shares during the period. Huntington National Bank raised its holdings in Wintrust Financial by 30.6% in the 3rd quarter. Huntington National Bank now owns 725 shares of the bank’s stock worth $55,000 after purchasing an additional 170 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Wintrust Financial by 21.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the bank’s stock worth $78,000 after purchasing an additional 183 shares during the period. 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.