Fisher Asset Management LLC Increases Position in Wintrust Financial Co. (NASDAQ:WTFC)

Fisher Asset Management LLC raised its stake in shares of Wintrust Financial Co. (NASDAQ:WTFC - Free Report) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 437,028 shares of the bank's stock after purchasing an additional 11,752 shares during the period. Fisher Asset Management LLC owned 0.66% of Wintrust Financial worth $47,431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Choreo LLC bought a new position in shares of Wintrust Financial in the 2nd quarter valued at about $1,115,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Wintrust Financial by 7.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,285 shares of the bank's stock worth $22,063,000 after purchasing an additional 14,699 shares during the last quarter. LMR Partners LLP purchased a new stake in Wintrust Financial during the third quarter valued at approximately $499,000. Raymond James & Associates boosted its stake in Wintrust Financial by 2.7% in the 2nd quarter. Raymond James & Associates now owns 207,944 shares of the bank's stock worth $20,495,000 after purchasing an additional 5,563 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in Wintrust Financial by 25.2% during the 2nd quarter. Natixis Advisors LLC now owns 40,908 shares of the bank's stock valued at $4,032,000 after purchasing an additional 8,238 shares during the last quarter. Institutional investors own 93.48% of the company's stock.

Wintrust Financial Price Performance

Shares of NASDAQ:WTFC traded up $0.54 during midday trading on Wednesday, reaching $138.43. 158,669 shares of the company's stock traded hands, compared to its average volume of 386,775. Wintrust Financial Co. has a 1 year low of $82.90 and a 1 year high of $142.04. The company has a market cap of $9.20 billion, a P/E ratio of 14.59 and a beta of 1.15. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.01 and a current ratio of 1.02. The company has a fifty day simple moving average of $117.33 and a two-hundred day simple moving average of $106.79.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its earnings results on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.50 by ($0.03). Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. The business had revenue of $615.73 million for the quarter, compared to analysts' expectations of $623.45 million. During the same quarter last year, the business earned $2.53 EPS. The company's quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts predict that Wintrust Financial Co. will post 10.12 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 1.30%. Wintrust Financial's payout ratio is currently 18.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WTFC shares. Raymond James raised 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 report on Wednesday, October 23rd. Wedbush restated an "outperform" rating and set a $130.00 target price on shares of Wintrust Financial in a research report on Tuesday, October 22nd. Truist Financial increased their price target on Wintrust Financial from $123.00 to $127.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Citigroup boosted their price objective on Wintrust Financial from $126.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, DA Davidson lifted their price target on Wintrust Financial from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Three investment 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $123.00.

Insider Buying and Selling at Wintrust Financial

In other news, CFO David L. Stoehr sold 1,607 shares of Wintrust Financial stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $113.46, for a total transaction of $182,330.22. Following the sale, the chief financial officer now owns 14,874 shares of the company's stock, valued at approximately $1,687,604.04. The trade was a 9.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard B. Murphy sold 4,099 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $115.63, for a total value of $473,967.37. Following the completion of the transaction, the insider now owns 42,311 shares of the company's stock, valued at $4,892,420.93. The trade was a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,198 shares of company stock worth $2,445,314. Corporate insiders own 1.47% 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.