Wintrust Financial (NASDAQ:WTFC) Sets New 1-Year High – Here’s What Happened

Wintrust Financial Corporation (NASDAQ:WTFC)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $164.00 and last traded at $163.7290, with a volume of 160762 shares traded. The stock had previously closed at $162.36.

Wall Street Analysts Forecast Growth

WTFC has been the subject of several research reports. Barclays lifted their price target on shares of Wintrust Financial from $190.00 to $192.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Truist Financial lifted their price objective on shares of Wintrust Financial from $170.00 to $183.00 and gave the company a “buy” rating in a report on Friday, July 10th. Raymond James Financial started coverage on shares of Wintrust Financial in a research report on Tuesday, July 7th. They set an “outperform” rating and a $180.00 target price for the company. UBS Group restated a “neutral” rating and issued a $170.00 target price on shares of Wintrust Financial in a report on Tuesday, July 7th. Finally, Citigroup raised their price target on shares of Wintrust Financial from $178.00 to $182.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.92.

Wintrust Financial Trading Up 2.6%

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 0.98. The firm has a market capitalization of $11.26 billion, a P/E ratio of 13.99 and a beta of 0.84. The firm has a 50 day simple moving average of $154.97 and a two-hundred day simple moving average of $148.74.

Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Monday, April 20th. The bank reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.26. Wintrust Financial had a net margin of 20.11% and a return on equity of 13.15%. The firm had revenue of $713.17 million during the quarter, compared to analyst estimates of $707.23 million. During the same quarter in the prior year, the business posted $2.69 EPS. The business’s revenue was up 10.9% compared to the same quarter last year. Equities research analysts forecast that Wintrust Financial Corporation will post 13.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Suzet M. Mckinney sold 500 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $148.96, for a total value of $74,480.00. Following the completion of the transaction, the director directly owned 3,303 shares of the company’s stock, valued at $492,014.88. This represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO David A. Dykstra sold 9,579 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $148.82, for a total value of $1,425,546.78. Following the sale, the chief operating officer directly owned 179,810 shares of the company’s stock, valued at $26,759,324.20. The trade was a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,099 shares of company stock valued at $1,954,386 in the last 90 days. 1.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Polar Asset Management Partners Inc. purchased a new position in Wintrust Financial in the third quarter valued at about $14,094,000. F m Investments LLC grew its position in shares of Wintrust Financial by 61.6% during the 4th quarter. F m Investments LLC now owns 70,857 shares of the bank’s stock valued at $9,907,000 after acquiring an additional 27,013 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of Wintrust Financial during the 4th quarter worth approximately $59,287,000. Westfield Capital Management Co. LP increased its stake in shares of Wintrust Financial by 22.5% during the 4th quarter. Westfield Capital Management Co. LP now owns 559,762 shares of the bank’s stock worth $78,266,000 after purchasing an additional 102,798 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Wintrust Financial by 132.1% in the 4th quarter. SG Americas Securities LLC now owns 51,637 shares of the bank’s stock worth $7,220,000 after purchasing an additional 29,386 shares during the period. Hedge funds and other institutional investors own 93.48% of the company’s stock.

Wintrust Financial Company Profile

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.