Wintrust Financial (NASDAQ:WTFC) Earns Buy Rating from Analysts at TD Cowen

Key Points

• TD Cowen has initiated coverage on Wintrust Financial (NASDAQ: WTFC) with a "buy" rating and a price target of $166.00, indicating potential upside of 26.02% from the current price.
• Other analysts have also issued positive ratings, with Piper Sandler raising their target to $160.00 and DA Davidson to $155.00, contributing to a consensus price target of $148.64.
• Wintrust Financial reported a quarterly EPS of $2.78, exceeding estimates, with revenue of $670.78 million, reflecting a solid financial performance in the recent quarter.

Analysts at TD Cowen assumed coverage on shares of Wintrust Financial (NASDAQ:WTFC - Get Free Report) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $166.00 price target on the bank's stock. TD Cowen's target price points to a potential upside of 26.02% from the company's current price.

Other equities analysts have also issued research reports about the company. Piper Sandler restated an "overweight" rating and issued a $160.00 target price (up previously from $141.00) on shares of Wintrust Financial in a research note on Wednesday, July 23rd. DA Davidson raised their target price on Wintrust Financial from $135.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada increased their price target on Wintrust Financial from $137.00 to $158.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Truist Financial increased their price target on Wintrust Financial from $137.00 to $151.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $157.00 price target (up from $155.00) on shares of Wintrust Financial in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Wintrust Financial has an average rating of "Moderate Buy" and a consensus price target of $148.64.

Wintrust Financial Stock Performance

Shares of WTFC stock opened at $131.73 on Thursday. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 12.46 and a beta of 0.87. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day moving average of $132.27 and a 200 day moving average of $121.61. Wintrust Financial has a 1 year low of $89.10 and a 1 year high of $142.04.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its earnings results on Monday, July 21st. The bank reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.19. The company had revenue of $670.78 million during the quarter, compared to analyst estimates of $661.43 million. Wintrust Financial had a return on equity of 12.08% and a net margin of 18.06%.During the same quarter last year, the business posted $2.32 EPS. As a group, research analysts expect that Wintrust Financial will post 10.36 earnings per share for the current year.

Insider Activity

In other Wintrust Financial news, COO David A. Dykstra sold 14,942 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $131.53, for a total transaction of $1,965,321.26. Following the completion of the sale, the chief operating officer directly owned 182,208 shares in the company, valued at approximately $23,965,818.24. The trade was a 7.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward J. Wehmer acquired 3,919 shares of the business's stock in a transaction on Friday, July 25th. The shares were purchased at an average price of $26.35 per share, with a total value of $103,265.65. Following the completion of the purchase, the insider owned 3,919 shares in the company, valued at $103,265.65. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Wintrust Financial

Several large investors have recently bought and sold shares of WTFC. Norges Bank acquired a new position in shares of Wintrust Financial during the 2nd quarter worth approximately $87,418,000. Millennium Management LLC boosted its holdings in shares of Wintrust Financial by 539.2% during the 1st quarter. Millennium Management LLC now owns 594,711 shares of the bank's stock worth $66,881,000 after purchasing an additional 501,669 shares during the last quarter. Nuveen LLC acquired a new position in shares of Wintrust Financial during the 1st quarter worth approximately $47,769,000. Azora Capital LP acquired a new position in shares of Wintrust Financial during the 2nd quarter worth approximately $44,085,000. Finally, Jennison Associates LLC boosted its holdings in shares of Wintrust Financial by 53.3% during the 1st quarter. Jennison Associates LLC now owns 807,390 shares of the bank's stock worth $90,799,000 after purchasing an additional 280,568 shares during the last quarter. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

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.

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