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

Wintrust Financial (NASDAQ:WTFC) had its price objective boosted by Royal Bank of Canada from $116.00 to $117.00 in a report released on Tuesday, Benzinga reports. They currently have an outperform rating on the bank’s stock.

WTFC has been the topic of several other reports. StockNews.com upgraded Wintrust Financial from a sell rating to a hold rating in a research note on Thursday, April 18th. Hovde Group restated a market perform rating and set a $100.00 price target on shares of Wintrust Financial in a research report on Friday, June 21st. Barclays decreased their price target on Wintrust Financial from $135.00 to $130.00 and set an overweight rating on the stock in a research report on Friday, April 19th. Wedbush reaffirmed an outperform rating and set a $116.00 price objective on shares of Wintrust Financial in a report on Thursday, April 18th. Finally, Jefferies Financial Group reduced their price objective on Wintrust Financial from $118.00 to $116.00 and set a buy rating on the stock in a report on Wednesday, July 3rd. Two 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 company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $110.77.

Wintrust Financial Trading Up 0.2 %

Shares of WTFC opened at $104.06 on Tuesday. Wintrust Financial has a 12-month low of $71.86 and a 12-month high of $105.29. 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 capitalization of $6.43 billion, a price-to-earnings ratio of 10.76 and a beta of 1.18. The stock’s 50-day moving average price is $97.74 and its 200 day moving average price is $97.28.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.47. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. The firm had revenue of $604.77 million for the quarter, compared to analyst estimates of $577.80 million. During the same period in the previous year, the company posted $2.80 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts predict that Wintrust Financial will post 10.11 earnings per share for the current year.

Wintrust Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Wednesday, May 8th. Wintrust Financial’s dividend payout ratio is currently 18.61%.

Hedge Funds Weigh In On Wintrust Financial

A number of large investors have recently added to or reduced their stakes in the company. OLD National Bancorp IN increased its holdings in Wintrust Financial by 8.9% during the 2nd quarter. OLD National Bancorp IN now owns 2,619 shares of the bank’s stock worth $258,000 after purchasing an additional 215 shares in the last quarter. Simplicity Wealth LLC bought a new position in Wintrust Financial during the 2nd quarter worth about $493,000. Park Avenue Securities LLC grew its holdings in shares of Wintrust Financial by 5.6% in the 2nd quarter. Park Avenue Securities LLC now owns 6,994 shares of the bank’s stock valued at $689,000 after acquiring an additional 374 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Wintrust Financial by 271.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 41,831 shares of the bank’s stock valued at $4,123,000 after acquiring an additional 30,562 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Wintrust Financial by 825.0% in the 2nd quarter. Versant Capital Management Inc now owns 296 shares of the bank’s stock valued at $29,000 after acquiring an additional 264 shares in the last quarter. Institutional investors own 93.48% of the company’s stock.

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.