Wintrust Financial (NASDAQ:WTFC) PT Raised to $123.00 at Truist Financial

Wintrust Financial (NASDAQ:WTFC) had its price objective boosted by investment analysts at Truist Financial from $118.00 to $123.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Truist Financial’s price objective points to a potential upside of 11.94% from the stock’s current price.

Several other brokerages have also recently issued reports on WTFC. DA Davidson upped their price objective on shares of Wintrust Financial from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Piper Sandler upped their price target on Wintrust Financial from $113.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Wedbush lifted their price objective on Wintrust Financial from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Royal Bank of Canada upped their target price on Wintrust Financial from $116.00 to $117.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Finally, Stephens reiterated an “overweight” rating and set a $115.00 price target on shares of Wintrust Financial in a report on Thursday, July 18th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.23.

Wintrust Financial Price Performance

Shares of WTFC stock traded down $0.32 during trading hours on Friday, hitting $109.88. 132,334 shares of the company’s stock were exchanged, compared to its average volume of 380,001. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average of $104.75 and a two-hundred day moving average of $100.52. The firm has a market cap of $6.79 billion, a P/E ratio of 11.32 and a beta of 1.16. Wintrust Financial has a fifty-two week low of $71.86 and a fifty-two week high of $113.68.

Wintrust Financial (NASDAQ:WTFC) last released its earnings results on Wednesday, July 17th. The bank reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.10). Wintrust Financial had a net margin of 17.02% and a return on equity of 12.71%. The firm had revenue of $591.76 million during the quarter, compared to analysts’ expectations of $587.33 million. During the same quarter last year, the business earned $2.38 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Sell-side analysts forecast that Wintrust Financial will post 10.11 EPS for the current year.

Hedge Funds Weigh In On Wintrust Financial

Several institutional investors have recently bought and sold shares of WTFC. Johnson Financial Group Inc. acquired a new position in Wintrust Financial during the 4th quarter worth $25,000. Concord Wealth Partners acquired a new stake in Wintrust Financial in the first quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new stake in Wintrust Financial during the 1st quarter worth about $27,000. Versant Capital Management Inc boosted its position in shares of Wintrust Financial by 825.0% during the 2nd quarter. Versant Capital Management Inc now owns 296 shares of the bank’s stock worth $29,000 after acquiring an additional 264 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. increased its holdings in shares of Wintrust Financial by 70.0% in the 1st quarter. DHJJ Financial Advisors Ltd. now owns 488 shares of the bank’s stock valued at $51,000 after acquiring an additional 201 shares during the last quarter. 93.48% of the stock is owned by institutional investors and hedge funds.

Wintrust Financial Company Profile

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.