Edgestream Partners L.P. bought a new stake in Wintrust Financial Co. (NASDAQ:WTFC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,627 shares of the bank's stock, valued at approximately $2,564,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Versant Capital Management Inc grew its position in Wintrust Financial by 825.0% in the second quarter. Versant Capital Management Inc now owns 296 shares of the bank's stock worth $29,000 after acquiring an additional 264 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Wintrust Financial during the 3rd quarter worth $35,000. UMB Bank n.a. increased its position in shares of Wintrust Financial by 62.0% during the 3rd quarter. UMB Bank n.a. now owns 512 shares of the bank's stock worth $56,000 after purchasing an additional 196 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Wintrust Financial in the 3rd quarter valued at about $61,000. Finally, Covestor Ltd lifted its position in Wintrust Financial by 77.9% in the third quarter. Covestor Ltd now owns 653 shares of the bank's stock valued at $71,000 after buying an additional 286 shares during the last quarter. 93.48% of the stock is owned by institutional investors and hedge funds.
Wintrust Financial Stock Performance
NASDAQ:WTFC traded down $1.02 during mid-day trading on Tuesday, reaching $136.27. The stock had a trading volume of 747,058 shares, compared to its average volume of 389,078. Wintrust Financial Co. has a twelve month low of $88.31 and a twelve month high of $142.04. The business has a 50 day simple moving average of $119.68 and a 200 day simple moving average of $107.79. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 14.26 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.01 and a current ratio of 1.02.
Wintrust Financial (NASDAQ:WTFC - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The bank reported $2.47 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($0.03). Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The company had revenue of $615.73 million for the quarter, compared to analyst estimates of $623.45 million. During the same period last year, the company earned $2.53 earnings per share. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts expect that Wintrust Financial Co. will post 10.12 earnings per share for the current fiscal year.
Wintrust Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, November 7th. Wintrust Financial's dividend payout ratio (DPR) is presently 18.85%.
Insider Buying and Selling
In related news, COO David A. Dykstra sold 15,492 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $115.48, for a total transaction of $1,789,016.16. Following the sale, the chief operating officer now owns 197,591 shares of the company's stock, valued at $22,817,808.68. This trade represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David L. Stoehr sold 1,607 shares of the company's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $113.46, for a total transaction of $182,330.22. Following the completion of the transaction, the chief financial officer now owns 14,874 shares in the company, valued at approximately $1,687,604.04. This trade represents a 9.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,198 shares of company stock worth $2,445,314 in the last three months. Corporate insiders own 1.47% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Wintrust Financial from $131.00 to $136.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Raymond James boosted their price target on shares of Wintrust Financial from $125.00 to $135.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, October 23rd. Wedbush reissued an "outperform" rating and issued a $130.00 price objective on shares of Wintrust Financial in a research note on Tuesday, October 22nd. DA Davidson upped their target price on shares of Wintrust Financial from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Truist Financial raised their price target on shares of Wintrust Financial from $123.00 to $127.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.
View Our Latest Stock Analysis on Wintrust Financial
Wintrust Financial Company Profile
(
Free Report)
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.
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