Truist Financial Cuts Wintrust Financial (NASDAQ:WTFC) Price Target to $150.00

Wintrust Financial (NASDAQ:WTFC) had its target price reduced by Truist Financial from $170.00 to $150.00 in a report published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the bank’s stock.

Other equities analysts have also issued research reports about the stock. Barclays raised their price objective on shares of Wintrust Financial from $178.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, January 22nd. Piper Sandler increased their target price on Wintrust Financial from $161.00 to $184.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. Citigroup raised their target price on Wintrust Financial from $167.00 to $178.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. TD Cowen lifted their price target on Wintrust Financial from $170.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, DA Davidson upped their price target on Wintrust Financial from $165.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $163.77.

Wintrust Financial Price Performance

WTFC stock opened at $136.93 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.66. Wintrust Financial has a one year low of $89.10 and a one year high of $162.96. The firm has a market capitalization of $9.21 billion, a PE ratio of 12.01 and a beta of 0.85. The firm has a 50-day moving average of $145.89 and a two-hundred day moving average of $138.59.

Wintrust Financial (NASDAQ:WTFC) last released its earnings results on Tuesday, January 20th. The bank reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.22. Wintrust Financial had a net margin of 19.48% and a return on equity of 12.95%. The business had revenue of $714.26 million for the quarter, compared to the consensus estimate of $700.85 million. During the same period last year, the firm posted $2.63 earnings per share. On average, analysts forecast that Wintrust Financial will post 10.36 earnings per share for the current year.

Wintrust Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. This is an increase from Wintrust Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, February 5th. Wintrust Financial’s dividend payout ratio is presently 19.30%.

Insider Buying and Selling

In other news, insider Richard B. Murphy sold 3,291 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $146.05, for a total transaction of $480,650.55. Following the completion of the sale, the insider directly owned 46,049 shares of the company’s stock, valued at $6,725,456.45. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kathleen M. Boege sold 5,000 shares of Wintrust Financial stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $146.38, for a total value of $731,900.00. Following the sale, the executive vice president owned 22,883 shares of the company’s stock, valued at approximately $3,349,613.54. This represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 11,662 shares of company stock worth $1,705,730. Insiders own 1.01% of the company’s stock.

Institutional Trading of Wintrust Financial

Institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new position in shares of Wintrust Financial during the 3rd quarter worth $27,000. Advisors Asset Management Inc. bought a new position in shares of Wintrust Financial during the 1st quarter valued at $27,000. Elyxium Wealth LLC acquired a new stake in shares of Wintrust Financial in the 4th quarter valued at $31,000. Creative Financial Designs Inc. ADV lifted its stake in shares of Wintrust Financial by 231.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank’s stock valued at $32,000 after purchasing an additional 160 shares during the last quarter. Finally, Harbour Investments Inc. boosted its holdings in Wintrust Financial by 72.7% in the fourth quarter. Harbour Investments Inc. now owns 240 shares of the bank’s stock worth $34,000 after purchasing an additional 101 shares in the last quarter. 93.48% of the stock is currently owned by institutional investors and hedge funds.

About Wintrust Financial

Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.

The firm’s core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.