Wintrust Financial (NASDAQ:WTFC) Raised to Strong-Buy at Truist Financial

Wintrust Financial (NASDAQ:WTFC) was upgraded by research analysts at Truist Financial to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Barclays boosted their price target on Wintrust Financial from $130.00 to $151.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Citigroup increased their price target on shares of Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson upped their target price on Wintrust Financial from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Wintrust Financial in a report on Tuesday, October 22nd. Finally, UBS Group initiated coverage on Wintrust Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $157.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Wintrust Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.00.

Wintrust Financial Stock Performance

NASDAQ WTFC opened at $127.58 on Monday. The firm has a 50-day moving average price of $129.41 and a two-hundred day moving average price of $113.82. Wintrust Financial has a 12-month low of $89.68 and a 12-month high of $142.04. The company has a market capitalization of $8.48 billion, a P/E ratio of 13.36 and a beta of 1.20. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.73.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings results on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.03). The company had revenue of $615.73 million for the quarter, compared to analyst estimates of $623.45 million. Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.53 EPS. Analysts anticipate that Wintrust Financial will post 10.12 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Richard B. Murphy sold 4,099 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $115.63, for a total transaction of $473,967.37. Following the completion of the sale, the insider now directly owns 42,311 shares in the company, valued at $4,892,420.93. This represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David L. Stoehr sold 1,607 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $113.46, for a total transaction of $182,330.22. Following the completion of the transaction, the chief financial officer now owns 14,874 shares in the company, valued at approximately $1,687,604.04. The trade was a 9.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,198 shares of company stock valued at $2,445,314 in the last three months. 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 business. International Assets Investment Management LLC bought a new stake in Wintrust Financial in the third quarter worth approximately $35,000. UMB Bank n.a. lifted its position in shares of Wintrust Financial by 62.0% during the 3rd quarter. UMB Bank n.a. now owns 512 shares of the bank’s stock valued at $56,000 after acquiring an additional 196 shares during the period. Versant Capital Management Inc boosted its stake in Wintrust Financial by 32.1% during the fourth quarter. Versant Capital Management Inc now owns 539 shares of the bank’s stock worth $67,000 after acquiring an additional 131 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Wintrust Financial in the third quarter worth $61,000. Finally, Covestor Ltd increased its stake in Wintrust Financial by 77.9% in the third quarter. Covestor Ltd now owns 653 shares of the bank’s stock valued at $71,000 after purchasing an additional 286 shares in the last quarter. 93.48% of the stock is owned by 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.