KLP Kapitalforvaltning AS Acquires New Position in Wintrust Financial Co. (NASDAQ:WTFC)

KLP Kapitalforvaltning AS acquired a new position in shares of Wintrust Financial Co. (NASDAQ:WTFC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 13,500 shares of the bank's stock, valued at approximately $1,684,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Millstone Evans Group LLC purchased a new position in shares of Wintrust Financial during the 4th quarter worth about $43,000. Global Retirement Partners LLC raised its stake in Wintrust Financial by 63.5% during the fourth quarter. Global Retirement Partners LLC now owns 376 shares of the bank's stock worth $47,000 after purchasing an additional 146 shares during the period. Brooklyn Investment Group acquired a new position in shares of Wintrust Financial in the 3rd quarter valued at $61,000. Versant Capital Management Inc grew its stake in shares of Wintrust Financial by 32.1% during the 4th quarter. Versant Capital Management Inc now owns 539 shares of the bank's stock valued at $67,000 after buying an additional 131 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Wintrust Financial by 32.2% during the 4th quarter. UMB Bank n.a. now owns 677 shares of the bank's stock worth $84,000 after buying an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 93.48% of the company's stock.

Analysts Set New Price Targets

WTFC has been the subject of a number of research reports. Barclays boosted their price target on Wintrust Financial from $151.00 to $155.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. UBS Group began coverage on Wintrust Financial in a report on Tuesday, December 17th. They set a "buy" rating and a $157.00 target price for the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $152.00 price target on shares of Wintrust Financial in a research report on Thursday, January 23rd. Piper Sandler increased their price objective on shares of Wintrust Financial from $151.00 to $156.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Finally, Truist Financial raised shares of Wintrust Financial to a "strong-buy" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Wintrust Financial currently has an average rating of "Moderate Buy" and a consensus target price of $133.69.

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Wintrust Financial Stock Up 1.9 %

Shares of Wintrust Financial stock traded up $2.11 during trading hours on Wednesday, hitting $114.57. 431,961 shares of the company's stock traded hands, compared to its average volume of 399,842. Wintrust Financial Co. has a twelve month low of $91.38 and a twelve month high of $142.04. The company has a market cap of $7.64 billion, a PE ratio of 11.11 and a beta of 1.16. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $121.69 and a 200-day simple moving average of $122.48.

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

Wintrust Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.75%. This is an increase from Wintrust Financial's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, February 6th. Wintrust Financial's dividend payout ratio is 19.40%.

Insiders Place Their Bets

In other news, CFO David L. Stoehr sold 2,363 shares of the stock in a transaction dated Tuesday, January 28th. The shares were 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 of the company's stock, valued at approximately $2,607,752.56. This trade represents a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 value of $553,209.03. Following the completion of the sale, the chief operating officer now directly owns 206,294 shares of the company's stock, valued at approximately $27,088,465.14. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,178 shares of company stock valued at $1,336,315 in the last ninety days. Corporate insiders own 1.47% of the company's stock.

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.