Wintrust Financial (NASDAQ:WTFC) Price Target Cut to $173.00 by Analysts at TD Cowen

Key Points

• TD Cowen lowered Wintrust Financial’s price target to $173 from $183 while maintaining a “buy” rating, implying 18.5% upside from the prior close.
• Analyst sentiment remains positive overall, with nine “buy” ratings and five “hold” ratings producing a consensus “Moderate Buy” rating and an average target of $176.29.
• Wintrust reported quarterly EPS of $3.30, beating estimates by $0.15, while revenue rose 10.1% year over year to $738.63 million; the stock was recently trading near $145.99.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) had its price target reduced by equities researchers at TD Cowen from $183.00 to $173.00 in a report released on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the bank's stock. TD Cowen's target price would indicate a potential upside of 18.50% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler lifted their price objective on shares of Wintrust Financial from $186.00 to $195.00 and gave the stock an "overweight" rating in a research report on Monday. Raymond James Financial assumed coverage on Wintrust Financial in a report on Tuesday, July 7th. They issued an "outperform" rating and a $180.00 target price on the stock. Wall Street Zen upgraded Wintrust Financial from a "sell" rating to a "hold" rating in a research note on Saturday, September 26th. DA Davidson lifted their price target on Wintrust Financial from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Finally, Truist Financial lifted their price target on Wintrust Financial from $170.00 to $183.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $176.29.

Wintrust Financial Stock Up 0.7%

NASDAQ:WTFC traded up $0.97 during mid-day trading on Monday, hitting $145.99. The stock had a trading volume of 85,840 shares, compared to its average volume of 506,640. Wintrust Financial has a twelve month low of $119.61 and a twelve month high of $167.21. The stock has a 50-day simple moving average of $153.24 and a two-hundred day simple moving average of $151.53. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $9.85 billion, a PE ratio of 11.73 and a beta of 0.89.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last posted its quarterly earnings results on Monday, July 20th. The bank reported $3.30 EPS for the quarter, topping the consensus estimate of $3.15 by $0.15. Wintrust Financial had a net margin of 20.72% and a return on equity of 13.37%. The company had revenue of $738.63 million during the quarter, compared to analysts' expectations of $735.36 million. During the same quarter in the previous year, the business posted $2.78 EPS. The firm's revenue was up 10.1% on a year-over-year basis. On average, equities research analysts anticipate that Wintrust Financial will post 13.07 EPS for the current year.

Insider Activity

In other news, COO David Dykstra sold 13,515 shares of the company's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $162.77, for a total value of $2,199,836.55. Following the completion of the transaction, the chief operating officer owned 166,449 shares in the company, valued at approximately $27,092,903.73. This represents a 7.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.24% of the company's stock.

Institutional Investors Weigh In On Wintrust Financial

Several hedge funds and other institutional investors have recently bought and sold shares of WTFC. BlackRock Inc. purchased a new position in shares of Wintrust Financial during the second quarter worth about $1,058,088,000. First Trust Advisors LP increased its position in shares of Wintrust Financial by 26.6% during the first quarter. First Trust Advisors LP now owns 1,830,268 shares of the bank's stock worth $254,297,000 after purchasing an additional 385,069 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Wintrust Financial in the 2nd quarter valued at about $168,021,000. Bank of New York Mellon Corp lifted its holdings in shares of Wintrust Financial by 13.2% in the 1st quarter. Bank of New York Mellon Corp now owns 595,830 shares of the bank's stock valued at $82,785,000 after purchasing an additional 69,444 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted its position in shares of Wintrust Financial by 3.0% in the 4th quarter. Clark Capital Management Group Inc. now owns 589,731 shares of the bank's stock valued at $82,456,000 after purchasing an additional 16,915 shares during the period. 93.48% of the stock is currently owned by institutional investors and hedge funds.

About Wintrust Financial

Wintrust Financial Corporation NASDAQ: WTFC is a financial holding company headquartered in Rosemont, Illinois. Founded in 1991, the company operates a network of community banks serving individuals, families and businesses primarily in the Chicago metropolitan area, southern Wisconsin and northwest Indiana.

Wintrust's banking subsidiaries provide deposit accounts, commercial and consumer lending, residential mortgages, treasury management, trust and investment services, and other traditional banking products.

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