Principal Financial Group Inc. Purchases 133,311 Shares of Wintrust Financial Co. (NASDAQ:WTFC)

Principal Financial Group Inc. boosted its position in Wintrust Financial Co. (NASDAQ:WTFC - Free Report) by 11.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,308,254 shares of the bank's stock after purchasing an additional 133,311 shares during the period. Principal Financial Group Inc. owned about 1.97% of Wintrust Financial worth $141,981,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vestor Capital LLC boosted its stake in Wintrust Financial by 7.2% in the third quarter. Vestor Capital LLC now owns 19,506 shares of the bank's stock valued at $2,117,000 after acquiring an additional 1,303 shares during the last quarter. Forum Financial Management LP boosted its stake in Wintrust Financial by 2.8% in the third quarter. Forum Financial Management LP now owns 6,065 shares of the bank's stock valued at $658,000 after acquiring an additional 166 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Wintrust Financial by 93.7% in the third quarter. Harbor Capital Advisors Inc. now owns 81,012 shares of the bank's stock valued at $8,792,000 after acquiring an additional 39,181 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Wintrust Financial by 8.1% in the third quarter. Janney Montgomery Scott LLC now owns 10,539 shares of the bank's stock valued at $1,144,000 after acquiring an additional 790 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. boosted its stake in Wintrust Financial by 1.2% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 37,309 shares of the bank's stock valued at $4,049,000 after acquiring an additional 460 shares during the last quarter. 93.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Wintrust Financial

In other news, COO David A. Dykstra sold 15,492 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $115.48, for a total value of $1,789,016.16. Following the completion of the sale, the chief operating officer now directly owns 197,591 shares of the company's stock, valued at approximately $22,817,808.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO David A. Dykstra sold 15,492 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $115.48, for a total value of $1,789,016.16. Following the completion of the sale, the chief operating officer now directly owns 197,591 shares of the company's stock, valued at approximately $22,817,808.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David L. Stoehr sold 1,607 shares of the firm's stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $113.46, for a total transaction of $182,330.22. Following the completion of the sale, the chief financial officer now directly owns 14,874 shares of the company's stock, valued at approximately $1,687,604.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,198 shares of company stock valued at $2,445,314 in the last quarter. Company insiders own 1.47% of the company's stock.

Wall Street Analysts Forecast Growth

WTFC has been the topic of a number of recent research reports. Piper Sandler upped their price target on shares of Wintrust Financial from $131.00 to $136.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Citigroup upped their price target on shares of Wintrust Financial from $126.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Raymond James upped their price target 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. Truist Financial upped their price target on shares of Wintrust Financial from $123.00 to $127.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Stephens restated an "overweight" rating and set a $115.00 price target on shares of Wintrust Financial in a research note on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.

Wintrust Financial Trading Up 1.2 %

Shares of WTFC stock traded up $1.47 on Friday, hitting $128.60. 382,754 shares of the company's stock traded hands, compared to its average volume of 387,050. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.01 and a current ratio of 1.02. Wintrust Financial Co. has a one year low of $76.67 and a one year high of $131.66. The company's fifty day simple moving average is $110.58 and its 200 day simple moving average is $103.87. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 13.47 and a beta of 1.15.

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

Wintrust Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.80 annualized dividend and a yield of 1.40%. Wintrust Financial's payout ratio is currently 18.85%.

Wintrust Financial Company 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.