Shares of Wintrust Financial Co. (NASDAQ:WTFC – Get Rating) gapped down before the market opened on Friday after Truist Financial lowered their price target on the stock from $104.00 to $87.00. The stock had previously closed at $69.65, but opened at $67.39. Truist Financial currently has a buy rating on the stock. Wintrust Financial shares last traded at $68.73, with a volume of 46,439 shares trading hands.
WTFC has been the topic of a number of other research reports. StockNews.com began coverage on Wintrust Financial in a report on Thursday, March 16th. They set a “hold” rating on the stock. Raymond James lowered their target price on Wintrust Financial from $118.00 to $110.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 20th. Hovde Group upgraded Wintrust Financial from a “market perform” rating to an “outperform” rating and set a $108.00 target price on the stock in a research note on Wednesday, February 1st. DA Davidson lowered their target price on Wintrust Financial from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, January 20th. Finally, Royal Bank of Canada lowered their target price on Wintrust Financial from $108.00 to $95.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 14th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Wintrust Financial has an average rating of “Moderate Buy” and a consensus target price of $105.20.
Insider Buying and Selling
In other Wintrust Financial news, Director H Patrick Hackett, Jr. acquired 7,100 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average price of $73.31 per share, with a total value of $520,501.00. Following the transaction, the director now owns 47,173 shares of the company’s stock, valued at $3,458,252.63. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.41% of the stock is owned by insiders.
Hedge Funds Weigh In On Wintrust Financial
Large investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Wintrust Financial in the 2nd quarter valued at approximately $1,074,000. Walleye Capital LLC raised its holdings in Wintrust Financial by 254.2% in the 2nd quarter. Walleye Capital LLC now owns 49,068 shares of the bank’s stock valued at $3,933,000 after acquiring an additional 35,215 shares in the last quarter. MQS Management LLC acquired a new position in Wintrust Financial in the 3rd quarter valued at approximately $220,000. Maven Securities LTD raised its holdings in Wintrust Financial by 171.4% in the 3rd quarter. Maven Securities LTD now owns 11,400 shares of the bank’s stock valued at $930,000 after acquiring an additional 7,200 shares in the last quarter. Finally, Intrust Bank NA raised its holdings in Wintrust Financial by 6.6% in the 2nd quarter. Intrust Bank NA now owns 5,073 shares of the bank’s stock valued at $407,000 after acquiring an additional 312 shares in the last quarter. Institutional investors and hedge funds own 89.47% of the company’s stock.
Wintrust Financial Stock Performance
The company has a market capitalization of $4.20 billion, a P/E ratio of 8.71, a price-to-earnings-growth ratio of 0.42 and a beta of 1.20. The firm has a 50 day moving average price of $87.73 and a two-hundred day moving average price of $87.37. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.98 and a current ratio of 0.99.
Wintrust Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 23rd. Stockholders of record on Thursday, February 9th were paid a $0.40 dividend. This is a positive change from Wintrust Financial’s previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Wednesday, February 8th. Wintrust Financial’s dividend payout ratio is currently 20.00%.
Wintrust Financial Company Profile
Wintrust Financial Corp. operates as holding company, which engages in the provision of banking and financial services. It operates through the following segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment provides community-oriented, personal, and commercial banking services to customers located in its market area.