Wintrust Financial (NASDAQ:WTFC) Hits New 52-Week High – Here’s Why

Wintrust Financial Co. (NASDAQ:WTFC)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $115.04 and last traded at $114.44, with a volume of 70200 shares trading hands. The stock had previously closed at $112.21.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Hovde Group restated a “market perform” rating and set a $100.00 price objective on shares of Wintrust Financial in a report on Friday, June 21st. Jefferies Financial Group lowered their price objective on Wintrust Financial from $118.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. DA Davidson increased their price target on Wintrust Financial from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods downgraded shares of Wintrust Financial from an “outperform” rating to a “market perform” rating and increased their target price for the company from $110.00 to $115.00 in a report on Friday, July 19th. Finally, Truist Financial boosted their price objective on Wintrust Financial from $118.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $118.23.

Wintrust Financial Stock Up 2.0 %

The stock has a fifty day moving average price of $105.86 and a 200 day moving average price of $101.78. The stock has a market capitalization of $7.78 billion, a P/E ratio of 12.18 and a beta of 1.16. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.99 and a quick ratio of 0.99.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings data on Wednesday, July 17th. The bank reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.10). Wintrust Financial had a return on equity of 12.71% and a net margin of 17.02%. The firm had revenue of $591.76 million during the quarter, compared to analysts’ expectations of $587.33 million. During the same quarter in the previous year, the company posted $2.38 earnings per share. Wintrust Financial’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts forecast that Wintrust Financial Co. will post 10.11 earnings per share for the current year.

Wintrust Financial Dividend Announcement

The business also recently declared 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 was Thursday, August 8th. This represents a $1.80 annualized dividend and a yield of 1.54%. Wintrust Financial’s payout ratio is 18.73%.

Institutional Trading of Wintrust Financial

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Wintrust Financial by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock valued at $673,603,000 after buying an additional 244,168 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Wintrust Financial by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock worth $297,376,000 after purchasing an additional 146,090 shares during the period. Capital International Investors grew its stake in shares of Wintrust Financial by 4.6% in the first quarter. Capital International Investors now owns 1,638,085 shares of the bank’s stock worth $171,000,000 after purchasing an additional 72,082 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Wintrust Financial by 54.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,330,263 shares of the bank’s stock valued at $138,866,000 after purchasing an additional 469,640 shares during the period. Finally, Federated Hermes Inc. raised its position in Wintrust Financial by 1.8% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 93.48% of the company’s stock.

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.