Royal Bank of Canada Increases Wintrust Financial (NASDAQ:WTFC) Price Target to $117.00

Wintrust Financial (NASDAQ:WTFC) had its target price raised by Royal Bank of Canada from $116.00 to $117.00 in a report released on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the bank’s stock.

A number of other research analysts have also weighed in on the stock. Hovde Group reissued a market perform rating and set a $100.00 price target on shares of Wintrust Financial in a research report on Friday, June 21st. Truist Financial dropped their price target on shares of Wintrust Financial from $112.00 to $107.00 and set a buy rating on the stock in a research report on Monday. Barclays dropped their price target on shares of Wintrust Financial from $135.00 to $130.00 and set an overweight rating on the stock in a research report on Friday, April 19th. Jefferies Financial Group dropped their price target on shares of Wintrust Financial from $118.00 to $116.00 and set a buy rating on the stock in a research report on Wednesday, July 3rd. Finally, Wedbush reissued an outperform rating and set a $116.00 price target on shares of Wintrust Financial in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $110.77.

Wintrust Financial Stock Up 3.6 %

Shares of NASDAQ WTFC opened at $103.81 on Tuesday. The stock has a market capitalization of $6.41 billion, a P/E ratio of 10.74 and a beta of 1.18. The company has a 50-day moving average price of $97.67 and a 200-day moving average price of $97.20. Wintrust Financial has a 1 year low of $71.86 and a 1 year high of $105.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.98 and a quick ratio of 0.97.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings data on Thursday, April 18th. The bank reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.47. The firm had revenue of $604.77 million during the quarter, compared to analysts’ expectations of $577.80 million. Wintrust Financial had a net margin of 17.86% and a return on equity of 13.09%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $2.80 earnings per share. On average, equities research analysts forecast that Wintrust Financial will post 10.11 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, May 8th. Wintrust Financial’s dividend payout ratio (DPR) is currently 18.61%.

Institutional Trading of Wintrust Financial

Several hedge funds and other institutional investors have recently modified their holdings of WTFC. Capital International Investors raised its position in shares of Wintrust Financial by 79.5% in the fourth quarter. Capital International Investors now owns 1,566,003 shares of the bank’s stock valued at $145,247,000 after purchasing an additional 693,452 shares during the period. Norges Bank bought a new stake in shares of Wintrust Financial in the fourth quarter valued at approximately $61,898,000. Principal Financial Group Inc. raised its position in shares of Wintrust Financial by 136.7% in the fourth quarter. Principal Financial Group Inc. now owns 860,623 shares of the bank’s stock valued at $79,823,000 after purchasing an additional 497,065 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of Wintrust Financial in the fourth quarter valued at approximately $31,267,000. Finally, Jennison Associates LLC raised its position in shares of Wintrust Financial by 102.2% in the fourth quarter. Jennison Associates LLC now owns 596,632 shares of the bank’s stock valued at $55,338,000 after purchasing an additional 301,528 shares during the period. Institutional investors own 93.48% of the company’s stock.

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.