Wintrust Financial (NASDAQ:WTFC) Cut to “Neutral” at Brean Capital

Brean Capital cut shares of Wintrust Financial (NASDAQ:WTFC) from a buy rating to a neutral rating in a research note released on Tuesday, MarketBeat reports. They currently have $170.00 price target on the bank’s stock.

Other equities research analysts have also issued research reports about the stock. Raymond James Financial started coverage on shares of Wintrust Financial in a research note on Tuesday, July 7th. They set an “outperform” rating and a $180.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Wintrust Financial in a report on Monday, June 29th. TD Cowen increased their price objective on Wintrust Financial from $173.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Citigroup raised their target price on Wintrust Financial from $178.00 to $182.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $188.00 price target (up from $184.00) on shares of Wintrust Financial in a research report on Wednesday, April 22nd. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $177.77.

Wintrust Financial Stock Performance

NASDAQ WTFC opened at $157.77 on Tuesday. Wintrust Financial has a 52-week low of $119.61 and a 52-week high of $167.21. The company has a 50-day simple moving average of $156.16 and a 200 day simple moving average of $149.43. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 0.98. The company has a market capitalization of $10.64 billion, a PE ratio of 12.67 and a beta of 0.84.

Wintrust Financial (NASDAQ:WTFC) last released its earnings results on Monday, July 20th. The bank reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.15. The firm had revenue of $738.63 million for the quarter, compared to analysts’ expectations of $735.36 million. Wintrust Financial had a net margin of 20.72% and a return on equity of 13.37%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.78 earnings per share. On average, research analysts predict that Wintrust Financial will post 13.03 EPS for the current year.

Insider Activity at Wintrust Financial

In related news, COO David A. Dykstra sold 9,579 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $148.82, for a total value of $1,425,546.78. Following the completion of the transaction, the chief operating officer directly owned 179,810 shares of the company’s stock, valued at approximately $26,759,324.20. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.24% of the company’s stock.

Institutional Investors Weigh In On Wintrust Financial

Several institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Wintrust Financial in the fourth quarter worth $111,924,000. Wellington Management Group LLP bought a new stake in shares of Wintrust Financial during the 3rd quarter valued at $90,187,000. Artemis Investment Management LLP bought a new stake in shares of Wintrust Financial during the 4th quarter valued at $59,287,000. First Trust Advisors LP lifted its holdings in Wintrust Financial by 26.6% during the 1st quarter. First Trust Advisors LP now owns 1,830,268 shares of the bank’s stock worth $254,297,000 after purchasing an additional 385,069 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in Wintrust Financial during the 1st quarter worth about $34,272,000. Hedge funds and other institutional investors own 93.48% of the company’s stock.

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.