Wintrust Financial (NASDAQ:WTFC) PT Raised to $117.00 at Royal Bank of Canada

Wintrust Financial (NASDAQ:WTFC) had its target price hoisted by analysts at Royal Bank of Canada from $116.00 to $117.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Royal Bank of Canada’s target price suggests a potential upside of 16.81% from the stock’s current price.

Several other analysts have also commented on the company. Truist Financial dropped their target price on Wintrust Financial from $112.00 to $107.00 and set a “buy” rating on the stock in a 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. Hovde Group reissued a “market perform” rating and set a $100.00 target price on shares of Wintrust Financial in a research note on Friday, June 21st. StockNews.com upgraded Wintrust Financial from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Finally, Stephens reiterated an “overweight” rating and set a $110.00 price target on shares of Wintrust Financial in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.77.

Wintrust Financial Stock Performance

Shares of WTFC stock opened at $100.16 on Tuesday. The company’s 50 day moving average is $97.60 and its 200 day moving average is $97.16. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.78. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 10.36 and a beta of 1.18. Wintrust Financial has a 52-week low of $71.86 and a 52-week high of $105.29.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.47. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. The company had revenue of $604.77 million during the quarter, compared to analysts’ expectations of $577.80 million. During the same quarter in the previous year, the firm posted $2.80 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Wintrust Financial will post 10.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Wintrust Financial

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its stake in Wintrust Financial by 2,131.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 73,913 shares of the bank’s stock valued at $6,855,000 after buying an additional 70,601 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Wintrust Financial by 5.9% in the 4th quarter. Clearbridge Investments LLC now owns 258,610 shares of the bank’s stock valued at $23,986,000 after acquiring an additional 14,409 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Wintrust Financial by 13.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 538,489 shares of the bank’s stock valued at $49,945,000 after acquiring an additional 65,179 shares in the last quarter. Access Investment Management LLC bought a new position in Wintrust Financial during the fourth quarter worth $1,624,000. Finally, Alberta Investment Management Corp boosted its holdings in Wintrust Financial by 61.0% in the fourth quarter. Alberta Investment Management Corp now owns 32,113 shares of the bank’s stock worth $2,978,000 after purchasing an additional 12,165 shares during the period. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

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.