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

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

Other equities research analysts also recently issued research reports about the stock. Barclays upped their target price on shares of Wintrust Financial from $130.00 to $151.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Raymond James upped their price objective on shares of Wintrust Financial from $125.00 to $135.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $130.00 target price on shares of Wintrust Financial in a report on Tuesday, October 22nd. DA Davidson increased their price target on Wintrust Financial from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup raised their price target on Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wintrust Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.00.

Wintrust Financial Trading Down 0.1 %

Shares of NASDAQ WTFC opened at $127.58 on Monday. The company’s 50 day simple moving average is $129.41 and its 200 day simple moving average is $113.82. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 1.01. Wintrust Financial has a fifty-two week low of $89.68 and a fifty-two week high of $142.04. The firm has a market capitalization of $8.48 billion, a P/E ratio of 13.36 and a beta of 1.20.

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

Insider Activity at Wintrust Financial

In other news, CFO David L. Stoehr sold 1,607 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $113.46, for a total value of $182,330.22. Following the sale, the chief financial officer now directly owns 14,874 shares of the company’s stock, valued at approximately $1,687,604.04. This represents a 9.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard B. Murphy sold 4,099 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $115.63, for a total value of $473,967.37. Following the transaction, the insider now directly owns 42,311 shares in the company, valued at approximately $4,892,420.93. This trade represents a 8.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,198 shares of company stock valued at $2,445,314. 1.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FMR LLC increased its holdings in shares of Wintrust Financial by 14.1% in the third quarter. FMR LLC now owns 5,153,999 shares of the bank’s stock valued at $559,364,000 after purchasing an additional 637,072 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Wintrust Financial by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock valued at $297,376,000 after buying an additional 146,090 shares during the last quarter. State Street Corp lifted its position in Wintrust Financial by 5.1% during the third quarter. State Street Corp now owns 2,627,561 shares of the bank’s stock worth $285,169,000 after acquiring an additional 126,724 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Wintrust Financial by 11.3% during the third quarter. Principal Financial Group Inc. now owns 1,308,254 shares of the bank’s stock worth $141,981,000 after acquiring an additional 133,311 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Wintrust Financial by 8.8% in the third quarter. Geode Capital Management LLC now owns 1,155,726 shares of the bank’s stock valued at $125,464,000 after purchasing an additional 92,995 shares during the last quarter. 93.48% of the stock is owned by institutional investors and hedge funds.

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.