Wintrust Financial (NASDAQ:WTFC) Reaches New 1-Year High – Here’s Why

Wintrust Financial Co. (NASDAQ:WTFC) reached a new 52-week high on Tuesday . The stock traded as high as $115.04 and last traded at $114.44, with a volume of 70200 shares. The stock had previously closed at $112.21.

Analysts Set New Price Targets

WTFC has been the topic of several recent research reports. Piper Sandler raised their price objective on Wintrust Financial from $113.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Truist Financial upped their price objective on Wintrust Financial from $118.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, September 20th. DA Davidson increased their target price on Wintrust Financial from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods lowered shares of Wintrust Financial from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $110.00 to $115.00 in a report on Friday, July 19th. Finally, Royal Bank of Canada boosted their price objective on shares of Wintrust Financial from $116.00 to $117.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $118.23.

Wintrust Financial Price Performance

The stock has a 50-day simple moving average of $104.81 and a 200 day simple moving average of $101.53. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $6.96 billion, a P/E ratio of 11.60 and a beta of 1.16.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.10). The firm had revenue of $591.76 million during the quarter, compared to analyst estimates of $587.33 million. Wintrust Financial had a net margin of 17.02% and a return on equity of 12.71%. Wintrust Financial’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $2.38 EPS. On average, equities analysts expect that Wintrust Financial Co. will post 10.11 EPS for the current year.

Wintrust Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 1.60%. Wintrust Financial’s dividend payout ratio is currently 18.61%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Wintrust Financial by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock worth $673,603,000 after purchasing an additional 244,168 shares during the period. Dimensional Fund Advisors LP lifted its stake in Wintrust Financial by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock valued at $297,376,000 after acquiring an additional 146,090 shares during the period. Capital International Investors increased its holdings in Wintrust Financial by 4.6% during the first quarter. Capital International Investors now owns 1,638,085 shares of the bank’s stock valued at $171,000,000 after buying an additional 72,082 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Wintrust Financial by 54.6% in the first quarter. Principal Financial Group Inc. now owns 1,330,263 shares of the bank’s stock valued at $138,866,000 after acquiring an additional 469,640 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Wintrust Financial by 1.8% in the second quarter. Federated Hermes Inc. now owns 815,466 shares of the bank’s stock valued at $80,372,000 after purchasing an additional 14,087 shares in the last quarter. Hedge funds and other 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.