Oak Thistle LLC acquired a new stake in Wintrust Financial Co. (NASDAQ:WTFC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,757 shares of the bank's stock, valued at approximately $344,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Jane Street Group LLC boosted its stake in shares of Wintrust Financial by 530.3% in the 3rd quarter. Jane Street Group LLC now owns 39,135 shares of the bank's stock valued at $4,247,000 after buying an additional 32,926 shares during the period. Retirement Systems of Alabama lifted its stake in Wintrust Financial by 6.0% in the third quarter. Retirement Systems of Alabama now owns 80,782 shares of the bank's stock worth $8,767,000 after acquiring an additional 4,562 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Wintrust Financial by 36.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 802,841 shares of the bank's stock worth $87,132,000 after acquiring an additional 213,559 shares in the last quarter. State Street Corp increased its position in shares of Wintrust Financial by 5.1% in the 3rd quarter. State Street Corp now owns 2,627,561 shares of the bank's stock valued at $285,169,000 after purchasing an additional 126,724 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Wintrust Financial by 7.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,285 shares of the bank's stock valued at $22,063,000 after purchasing an additional 14,699 shares in the last quarter. 93.48% of the stock is currently owned by institutional investors and hedge funds.
Wintrust Financial Stock Performance
Shares of Wintrust Financial stock traded up $1.60 during trading hours on Friday, hitting $135.05. 906,566 shares of the company were exchanged, compared to its average volume of 464,770. The business has a 50-day moving average of $130.81 and a 200-day moving average of $115.18. Wintrust Financial Co. has a 1 year low of $89.68 and a 1 year high of $142.04. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 14.14 and a beta of 1.20.
Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its earnings results on Monday, October 21st. The bank reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.03). Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. The firm had revenue of $615.73 million during the quarter, compared to analysts' expectations of $623.45 million. During the same period in the previous year, the firm earned $2.53 EPS. The firm's revenue was up 7.1% on a year-over-year basis. As a group, analysts expect that Wintrust Financial Co. will post 10.13 EPS for the current fiscal year.
Wintrust Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Thursday, November 7th. Wintrust Financial's dividend payout ratio (DPR) is currently 18.85%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on WTFC. Barclays raised their price target on Wintrust Financial from $130.00 to $151.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Piper Sandler upped their price target on Wintrust Financial from $131.00 to $136.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. StockNews.com raised shares of Wintrust Financial from a "sell" rating to a "hold" rating in a report on Tuesday. Raymond James upped their target price on shares of Wintrust Financial from $125.00 to $135.00 and gave the company a "strong-buy" rating in a report on Wednesday, October 23rd. Finally, Wedbush reaffirmed an "outperform" rating and set a $130.00 price objective on shares of Wintrust Financial in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $128.00.
View Our Latest Analysis on WTFC
Insider Transactions at Wintrust Financial
In related news, COO David A. Dykstra sold 15,492 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $115.48, for a total value of $1,789,016.16. Following the sale, the chief operating officer now owns 197,591 shares in the company, valued at $22,817,808.68. This represents a 7.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Richard B. Murphy sold 4,099 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 directly 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. Insiders have sold a total of 21,198 shares of company stock valued at $2,445,314 in the last ninety days. 1.47% of the stock is currently owned by company insiders.
About Wintrust Financial
(
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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