Wintrust Financial (NASDAQ:WTFC) Receives Overweight Rating from Piper Sandler

Key Points

• Piper Sandler reaffirmed an "Overweight" rating and raised its price target to $188, implying roughly a 24.9% upside; the analyst consensus is a "Moderate Buy" with an average price target of $163.38.
• Wintrust beat estimates for the quarter with $3.22 EPS versus $2.96 expected and revenue of $713.2M (up 10.9% year-over-year), reporting a 20.11% net margin and 13.32% return on equity.

Wintrust Financial (NASDAQ:WTFC - Get Free Report)'s stock had its "overweight" rating reaffirmed by equities research analysts at Piper Sandler in a research note issued on Wednesday,Benzinga reports. They presently have a $188.00 price target on the bank's stock, up from their previous price target of $184.00. Piper Sandler's price target points to a potential upside of 24.89% from the company's previous close.

Several other research firms have also issued reports on WTFC. Citigroup boosted their price target on shares of Wintrust Financial from $167.00 to $178.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. UBS Group reaffirmed a "buy" rating and issued a $176.00 price objective on shares of Wintrust Financial in a report on Wednesday, February 4th. DA Davidson reiterated a "buy" rating and issued a $165.00 price objective on shares of Wintrust Financial in a research note on Tuesday. Barclays boosted their target price on shares of Wintrust Financial from $178.00 to $185.00 and gave the company an "overweight" rating in a report on Thursday, January 22nd. Finally, Truist Financial cut their price target on Wintrust Financial from $170.00 to $150.00 and set a "buy" rating for the company in a report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $163.38.

Wintrust Financial Trading Up 0.2%

Shares of WTFC opened at $150.54 on Wednesday. Wintrust Financial has a fifty-two week low of $106.82 and a fifty-two week high of $162.96. The business has a 50-day moving average of $142.83 and a 200 day moving average of $139.77. The firm has a market cap of $10.15 billion, a P/E ratio of 12.67 and a beta of 0.86. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.99 and a current ratio of 1.00.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last released its quarterly earnings data on Monday, April 20th. The bank reported $3.22 EPS for the quarter, beating the consensus estimate of $2.96 by $0.26. The business had revenue of $713.17 million for the quarter, compared to the consensus estimate of $707.23 million. Wintrust Financial had a net margin of 20.11% and a return on equity of 13.32%. The company's revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.69 earnings per share. As a group, research analysts forecast that Wintrust Financial will post 12.38 EPS for the current year.

Insider Transactions at Wintrust Financial

In related news, insider Richard B. Murphy sold 3,291 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $146.05, for a total value of $480,650.55. Following the sale, the insider owned 46,049 shares in the company, valued at approximately $6,725,456.45. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David L. Stoehr sold 2,499 shares of Wintrust Financial stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $146.16, for a total value of $365,253.84. Following the sale, the chief financial officer directly owned 18,638 shares of the company's stock, valued at $2,724,130.08. This represents a 11.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 11,662 shares of company stock worth $1,705,730. 1.01% of the stock is owned by corporate insiders.

Institutional Trading of Wintrust Financial

Several institutional investors and hedge funds have recently modified their holdings of WTFC. Root Financial Partners LLC bought a new position in shares of Wintrust Financial in the third quarter worth approximately $27,000. Advisors Asset Management Inc. bought a new stake in Wintrust Financial during the first quarter valued at approximately $27,000. Elyxium Wealth LLC purchased a new position in Wintrust Financial in the 4th quarter worth approximately $31,000. Creative Financial Designs Inc. ADV increased its holdings in shares of Wintrust Financial by 231.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank's stock worth $32,000 after buying an additional 160 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of Wintrust Financial by 72.7% in the 4th quarter. Harbour Investments Inc. now owns 240 shares of the bank's stock worth $34,000 after buying an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 93.48% of the company's stock.

About Wintrust Financial

Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.

The firm's core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.