Wintrust Financial (NASDAQ:WTFC) Upgraded by Truist Financial to Strong-Buy Rating

Wintrust Financial (NASDAQ:WTFC - Get Free Report) was upgraded by equities researchers at Truist Financial to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts have also recently commented on the stock. Wedbush reaffirmed an "outperform" rating and set a $130.00 price target on shares of Wintrust Financial in a research note on Tuesday, October 22nd. Piper Sandler upped their target price on Wintrust Financial from $131.00 to $136.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Citigroup increased their price target on Wintrust Financial from $126.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. DA Davidson boosted their price objective on Wintrust Financial from $125.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Barclays increased their target price on Wintrust Financial from $130.00 to $151.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $128.00.

Wintrust Financial Price Performance

Shares of NASDAQ:WTFC traded up $0.68 during mid-day trading on Monday, reaching $128.26. The stock had a trading volume of 477,084 shares, compared to its average volume of 395,556. The business's 50 day moving average price is $129.41 and its 200 day moving average price is $113.82. Wintrust Financial has a 1 year low of $89.68 and a 1 year high of $142.04. The company has a market cap of $8.53 billion, a P/E ratio of 13.43 and a beta of 1.20. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.73.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The bank reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.03). Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The business had revenue of $615.73 million during the quarter, compared to the consensus estimate of $623.45 million. During the same quarter in the prior year, the firm posted $2.53 EPS. The company's revenue for the quarter was up 7.1% on a year-over-year basis. Research analysts expect that Wintrust Financial will post 10.12 EPS for the current fiscal year.

Insider Activity

In other Wintrust Financial news, CFO David L. Stoehr sold 1,607 shares of Wintrust Financial stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $113.46, for a total value of $182,330.22. Following the completion of the transaction, the chief financial officer now owns 14,874 shares of the company's stock, valued at approximately $1,687,604.04. The trade was a 9.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO David A. Dykstra sold 15,492 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $115.48, for a total transaction of $1,789,016.16. Following the sale, the chief operating officer now directly owns 197,591 shares in the company, valued at approximately $22,817,808.68. The trade was a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,198 shares of company stock valued at $2,445,314 in the last ninety days. Insiders own 1.47% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its stake in Wintrust Financial by 14.1% during the 3rd quarter. FMR LLC now owns 5,153,999 shares of the bank's stock worth $559,364,000 after buying an additional 637,072 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Wintrust Financial by 36.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 802,841 shares of the bank's stock worth $87,132,000 after purchasing an additional 213,559 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Wintrust Financial by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank's stock valued at $297,376,000 after purchasing an additional 146,090 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Wintrust Financial by 11.3% in the third quarter. Principal Financial Group Inc. now owns 1,308,254 shares of the bank's stock worth $141,981,000 after buying an additional 133,311 shares in the last quarter. Finally, State Street Corp lifted its stake in Wintrust Financial by 5.1% in the 3rd quarter. State Street Corp now owns 2,627,561 shares of the bank's stock worth $285,169,000 after purchasing an additional 126,724 shares in the last quarter. Hedge funds and other 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.