Wintrust Financial (NASDAQ:WTFC) Reaches New 12-Month High Following Analyst Upgrade

Wintrust Financial Corporation (NASDAQ:WTFC) hit a new 52-week high on Wednesday after Raymond James Financial upgraded the stock to a moderate buy rating. The company traded as high as $164.00 and last traded at $161.45, with a volume of 693426 shares trading hands. The stock had previously closed at $162.79.

A number of other equities analysts have also recently commented on WTFC. TD Cowen raised their target price on Wintrust Financial from $173.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Citigroup boosted their price target on shares of Wintrust Financial from $178.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. DA Davidson reissued a “buy” rating and set a $185.00 price target on shares of Wintrust Financial in a research report on Tuesday, June 30th. Stephens began coverage on shares of Wintrust Financial in a research note on Friday, March 27th. They issued an “equal weight” rating and a $160.00 price objective for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wintrust Financial in a research note on Monday, June 29th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Wintrust Financial currently has an average rating of “Moderate Buy” and a consensus target price of $172.17.

Insider Activity

In related news, CFO David L. Stoehr sold 3,020 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $150.45, for a total value of $454,359.00. Following the sale, the chief financial officer owned 13,213 shares of the company’s stock, valued at $1,987,895.85. This trade represents a 18.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Suzet M. Mckinney sold 500 shares of Wintrust Financial stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $148.96, for a total transaction of $74,480.00. Following the completion of the transaction, the director owned 3,303 shares of the company’s stock, valued at $492,014.88. This represents a 13.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 13,099 shares of company stock worth $1,954,386. 1.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wintrust Financial

Several institutional investors have recently modified their holdings of the company. Reinhart Partners LLC. increased its holdings in Wintrust Financial by 0.5% in the second quarter. Reinhart Partners LLC. now owns 527,152 shares of the bank’s stock valued at $84,727,000 after buying an additional 2,592 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Wintrust Financial during the 2nd quarter worth about $49,000. GAMMA Investing LLC lifted its holdings in Wintrust Financial by 14.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,270 shares of the bank’s stock worth $365,000 after buying an additional 278 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Wintrust Financial by 8.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,348 shares of the bank’s stock worth $217,000 after acquiring an additional 110 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its position in shares of Wintrust Financial by 2.6% during the 1st quarter. Glenmede Trust Co. NA now owns 11,872 shares of the bank’s stock worth $1,649,000 after acquiring an additional 303 shares in the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

Wintrust Financial Trading Up 2.1%

The firm has a market cap of $10.91 billion, a PE ratio of 13.56 and a beta of 0.84. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average price of $153.74 and a 200 day moving average price of $148.06.

Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Monday, April 20th. The bank reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.96 by $0.26. The firm had revenue of $713.17 million during the quarter, compared to analysts’ expectations of $707.23 million. Wintrust Financial had a return on equity of 13.15% and a net margin of 20.11%.The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.69 earnings per share. Analysts forecast that Wintrust Financial Corporation will post 13.07 EPS for the current year.

Wintrust Financial Company Profile

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.