Corebridge Financial Inc. Trims Stake in Wintrust Financial Co. (NASDAQ:WTFC)

Corebridge Financial Inc. trimmed its holdings in Wintrust Financial Co. (NASDAQ:WTFC - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,226 shares of the bank's stock after selling 3,401 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Wintrust Financial worth $9,381,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WTFC. Vanguard Group Inc. boosted its stake in shares of Wintrust Financial by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 6,911,488 shares of the bank's stock worth $861,932,000 after buying an additional 58,162 shares during the last quarter. FMR LLC boosted its position in Wintrust Financial by 14.1% in the 3rd quarter. FMR LLC now owns 5,153,999 shares of the bank's stock worth $559,364,000 after purchasing an additional 637,072 shares in the last quarter. State Street Corp grew its stake in shares of Wintrust Financial by 5.1% during the 3rd quarter. State Street Corp now owns 2,627,561 shares of the bank's stock worth $285,169,000 after purchasing an additional 126,724 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Wintrust Financial by 11.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,308,254 shares of the bank's stock valued at $141,981,000 after purchasing an additional 133,311 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Wintrust Financial by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,155,726 shares of the bank's stock valued at $125,464,000 after purchasing an additional 92,995 shares during the period. 93.48% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler raised their price target on shares of Wintrust Financial from $151.00 to $156.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Royal Bank of Canada restated an "outperform" rating and set a $152.00 target price on shares of Wintrust Financial in a research report on Thursday, January 23rd. Truist Financial raised Wintrust Financial to a "strong-buy" rating in a report on Monday, January 6th. Raymond James reiterated a "strong-buy" rating and set a $150.00 price target (up previously from $135.00) on shares of Wintrust Financial in a research report on Thursday, January 23rd. Finally, Barclays boosted their price objective on Wintrust Financial from $151.00 to $155.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Wintrust Financial currently has a consensus rating of "Moderate Buy" and an average price target of $133.69.

Wintrust Financial Price Performance

WTFC traded up $0.34 on Monday, hitting $112.46. 454,974 shares of the company's stock were exchanged, compared to its average volume of 399,195. The firm has a 50-day moving average price of $122.56 and a 200-day moving average price of $122.48. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 10.91 and a beta of 1.16. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. Wintrust Financial Co. has a fifty-two week low of $91.38 and a fifty-two week high of $142.04.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.11. Wintrust Financial had a net margin of 17.52% and a return on equity of 12.60%. During the same quarter in the previous year, the firm posted $1.87 earnings per share. As a group, equities analysts anticipate that Wintrust Financial Co. will post 10.36 earnings per share for the current year.

Wintrust Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Thursday, February 6th. This is a boost from Wintrust Financial's previous quarterly dividend of $0.45. Wintrust Financial's dividend payout ratio (DPR) is currently 19.40%.

Insider Buying and Selling

In other news, CFO David L. Stoehr sold 2,363 shares of Wintrust Financial stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $131.32, for a total transaction of $310,309.16. Following the transaction, the chief financial officer now owns 19,858 shares in the company, valued at $2,607,752.56. The trade was a 10.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David A. Dykstra sold 4,213 shares of the business's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $131.31, for a total transaction of $553,209.03. Following the transaction, the chief operating officer now directly owns 206,294 shares in the company, valued at approximately $27,088,465.14. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,178 shares of company stock worth $1,336,315. 1.47% of the stock is owned by corporate insiders.

Wintrust Financial 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.