Raymond James Financial Inc. acquired a new position in shares of Wintrust Financial Co. (NASDAQ:WTFC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 325,251 shares of the bank's stock, valued at approximately $40,562,000. Raymond James Financial Inc. owned approximately 0.49% of Wintrust Financial as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in Wintrust Financial by 8.1% in the third quarter. Janney Montgomery Scott LLC now owns 10,539 shares of the bank's stock worth $1,144,000 after acquiring an additional 790 shares during the period. Assetmark Inc. raised its holdings in shares of Wintrust Financial by 11.3% in the 3rd quarter. Assetmark Inc. now owns 16,713 shares of the bank's stock worth $1,814,000 after purchasing an additional 1,693 shares during the period. Atria Investments Inc lifted its stake in Wintrust Financial by 5.2% in the third quarter. Atria Investments Inc now owns 8,122 shares of the bank's stock valued at $881,000 after purchasing an additional 402 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new position in Wintrust Financial during the third quarter valued at $273,000. Finally, Covestor Ltd increased its position in Wintrust Financial by 77.9% in the third quarter. Covestor Ltd now owns 653 shares of the bank's stock worth $71,000 after buying an additional 286 shares during the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.
Wintrust Financial Price Performance
Shares of NASDAQ WTFC traded down $2.01 during midday trading on Thursday, hitting $107.76. 405,638 shares of the company's stock were exchanged, compared to its average volume of 444,134. The business's fifty day moving average price is $126.75 and its two-hundred day moving average price is $121.70. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 10.45 and a beta of 1.16. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. Wintrust Financial Co. has a 12-month low of $91.38 and a 12-month high of $142.04.
Wintrust Financial (NASDAQ:WTFC - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.11. Wintrust Financial had a net margin of 17.52% and a return on equity of 12.60%. During the same quarter in the previous year, the company posted $1.87 EPS. As a group, research analysts forecast that Wintrust Financial Co. will post 10.36 EPS for the current fiscal year.
Wintrust Financial Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.50 dividend. The ex-dividend date was Thursday, February 6th. This represents a $2.00 annualized dividend and a yield of 1.86%. This is a positive change from Wintrust Financial's previous quarterly dividend of $0.45. Wintrust Financial's dividend payout ratio is currently 19.40%.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Raymond James reaffirmed a "strong-buy" rating and set a $150.00 price target (up previously from $135.00) on shares of Wintrust Financial in a research report on Thursday, January 23rd. Truist Financial raised shares of Wintrust Financial to a "strong-buy" rating in a research report on Monday, January 6th. UBS Group assumed coverage on shares of Wintrust Financial in a report on Tuesday, December 17th. They issued a "buy" rating and a $157.00 price objective for the company. Royal Bank of Canada reissued an "outperform" rating and set a $152.00 target price on shares of Wintrust Financial in a report on Thursday, January 23rd. Finally, Barclays increased their target price on Wintrust Financial from $151.00 to $155.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $133.69.
Read Our Latest Analysis on WTFC
Insider Buying and Selling at Wintrust Financial
In other news, COO David A. Dykstra sold 4,213 shares of the firm's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $131.31, for a total transaction of $553,209.03. Following the transaction, the chief operating officer now directly owns 206,294 shares of the company's stock, valued at approximately $27,088,465.14. This trade represents a 2.00 % decrease in their ownership of the stock. 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 2,363 shares of the business's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $131.32, for a total value of $310,309.16. Following the completion of the sale, the chief financial officer now directly 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 position. The disclosure for this sale can be found here. Insiders have sold 10,178 shares of company stock worth $1,336,315 over the last ninety days. Insiders own 1.47% of the company's stock.
Wintrust Financial Profile
(
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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