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Phocas Financial Corp. Trims Holdings in Wintrust Financial Co. (NASDAQ:WTFC)

Wintrust Financial logo with Finance background

Phocas Financial Corp. cut its position in shares of Wintrust Financial Co. (NASDAQ:WTFC - Free Report) by 5.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 129,241 shares of the bank's stock after selling 8,139 shares during the quarter. Wintrust Financial makes up about 0.1% of Phocas Financial Corp.'s holdings, making the stock its 27th biggest position. Phocas Financial Corp. owned approximately 0.19% of Wintrust Financial worth $14,027,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Wintrust Financial by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank's stock valued at $673,603,000 after acquiring an additional 244,168 shares during the period. Dimensional Fund Advisors LP increased its position in Wintrust Financial by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank's stock worth $297,376,000 after buying an additional 146,090 shares during the last quarter. Capital International Investors raised its stake in shares of Wintrust Financial by 4.6% in the first quarter. Capital International Investors now owns 1,638,085 shares of the bank's stock valued at $171,000,000 after buying an additional 72,082 shares during the period. Principal Financial Group Inc. grew its stake 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 worth $141,981,000 after acquiring an additional 133,311 shares during the period. Finally, Federated Hermes Inc. increased its holdings in Wintrust Financial by 1.8% in the 2nd quarter. Federated Hermes Inc. now owns 815,466 shares of the bank's stock worth $80,372,000 after acquiring an additional 14,087 shares during the last quarter. 93.48% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Wintrust Financial Stock Down 1.0 %

Shares of NASDAQ:WTFC traded down $1.31 during trading on Tuesday, hitting $130.94. The stock had a trading volume of 113,839 shares, compared to its average volume of 386,033. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.73. Wintrust Financial Co. has a 12 month low of $82.90 and a 12 month high of $136.08. The company has a market capitalization of $8.71 billion, a PE ratio of 13.71 and a beta of 1.15. The firm's fifty day moving average is $113.72 and its 200 day moving average is $105.35.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last released its 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 business had revenue of $615.73 million during the quarter, compared to analysts' expectations of $623.45 million. During the same period in the prior year, the company earned $2.53 earnings per share. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. Analysts anticipate that Wintrust Financial Co. will post 10.12 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 7th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, November 7th. Wintrust Financial's payout ratio is 18.85%.

Analyst Upgrades and Downgrades

WTFC has been the subject of a number of recent research reports. Raymond James lifted their price objective on shares of Wintrust Financial from $125.00 to $135.00 and gave the company a "strong-buy" rating in a research note on Wednesday, October 23rd. Wedbush reiterated an "outperform" rating and issued a $130.00 price target on shares of Wintrust Financial in a research report on Tuesday, October 22nd. Truist Financial boosted their target price on Wintrust Financial from $123.00 to $127.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. DA Davidson boosted their target price on Wintrust Financial from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler boosted their target price on Wintrust Financial from $131.00 to $136.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $123.00.

Get Our Latest Stock Report on WTFC

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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Institutional Ownership by Quarter for Wintrust Financial (NASDAQ:WTFC)

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