Wintrust Financial (NASDAQ:WTFC) Price Target Raised to $117.00 at Royal Bank of Canada

Wintrust Financial (NASDAQ:WTFC) had its price target raised by Royal Bank of Canada from $116.00 to $117.00 in a report released on Tuesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the bank’s stock.

A number of other research firms also recently commented on WTFC. Truist Financial cut their target price on shares of Wintrust Financial from $112.00 to $107.00 and set a buy rating on the stock in a research report on Monday, July 8th. Stephens reaffirmed an overweight rating and issued a $110.00 price objective on shares of Wintrust Financial in a research report on Tuesday, April 16th. Wedbush reaffirmed an outperform rating and issued a $116.00 price objective on shares of Wintrust Financial in a research report on Thursday, April 18th. StockNews.com raised shares of Wintrust Financial from a sell rating to a hold rating in a research report on Thursday, April 18th. Finally, Hovde Group reaffirmed a market perform rating and issued a $100.00 price objective on shares of Wintrust Financial in a research report on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $110.77.

Wintrust Financial Trading Up 0.2 %

NASDAQ WTFC opened at $104.06 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.97 and a current ratio of 0.98. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 10.76 and a beta of 1.18. The company’s 50-day simple moving average is $97.74 and its two-hundred day simple moving average is $97.28. Wintrust Financial has a one year low of $71.86 and a one year high of $105.29.

Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Thursday, April 18th. The bank reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.47. The business had revenue of $604.77 million for 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 for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.80 EPS. Equities analysts forecast that Wintrust Financial will post 10.11 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.73%. The ex-dividend date was Wednesday, May 8th. Wintrust Financial’s dividend payout ratio is presently 18.61%.

Institutional Trading of Wintrust Financial

Several institutional investors and hedge funds have recently bought and sold shares of the business. OLD National Bancorp IN lifted its stake in Wintrust Financial by 8.9% during the 2nd quarter. OLD National Bancorp IN now owns 2,619 shares of the bank’s stock valued at $258,000 after acquiring an additional 215 shares during the period. Simplicity Wealth LLC acquired a new stake in Wintrust Financial during the 2nd quarter valued at approximately $493,000. Park Avenue Securities LLC lifted its stake in Wintrust Financial by 5.6% during the 2nd quarter. Park Avenue Securities LLC now owns 6,994 shares of the bank’s stock valued at $689,000 after acquiring an additional 374 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Wintrust Financial by 271.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 41,831 shares of the bank’s stock valued at $4,123,000 after acquiring an additional 30,562 shares during the period. Finally, Versant Capital Management Inc lifted its stake in Wintrust Financial by 825.0% during the 2nd quarter. Versant Capital Management Inc now owns 296 shares of the bank’s stock valued at $29,000 after acquiring an additional 264 shares during the period. 93.48% of the stock is currently owned by institutional investors and hedge funds.

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.