Wintrust Financial Co. (NASDAQ:WTFC) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama grew its stake in Wintrust Financial Co. (NASDAQ:WTFC - Free Report) by 6.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,782 shares of the bank's stock after acquiring an additional 4,562 shares during the period. Retirement Systems of Alabama owned 0.12% of Wintrust Financial worth $8,767,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in shares of Wintrust Financial during the third quarter valued at $35,000. UMB Bank n.a. increased its position in Wintrust Financial by 62.0% during the 3rd quarter. UMB Bank n.a. now owns 512 shares of the bank's stock valued at $56,000 after purchasing an additional 196 shares during the period. Brooklyn Investment Group purchased a new position in Wintrust Financial during the 3rd quarter valued at about $61,000. Covestor Ltd raised its holdings in shares of Wintrust Financial by 77.9% in the 3rd quarter. Covestor Ltd now owns 653 shares of the bank's stock valued at $71,000 after purchasing an additional 286 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Wintrust Financial by 11.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 866 shares of the bank's stock worth $85,000 after purchasing an additional 91 shares during the period. 93.48% of the stock is owned by hedge funds and other institutional investors.

Wintrust Financial Stock Performance

Shares of NASDAQ:WTFC traded down $5.60 on Wednesday, hitting $124.65. 819,437 shares of the company were exchanged, compared to its average volume of 388,947. 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's 50 day moving average price is $126.13 and its 200 day moving average price is $110.63. Wintrust Financial Co. has a 1-year low of $89.68 and a 1-year high of $142.04. The firm has a market capitalization of $8.29 billion, a P/E ratio of 13.05 and a beta of 1.18.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last posted its quarterly 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 for the quarter, compared to analysts' expectations of $623.45 million. During the same quarter in the previous year, the firm posted $2.53 EPS. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Wintrust Financial Co. will post 10.12 EPS for the current year.

Wintrust Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 7th were issued a $0.45 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.80 annualized dividend and a yield of 1.44%. Wintrust Financial's dividend payout ratio (DPR) is presently 18.85%.

Insiders Place Their Bets

In other news, COO David A. Dykstra sold 15,492 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 197,591 shares of the company's stock, valued at $22,817,808.68. The trade was a 7.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard B. Murphy sold 4,099 shares of the company'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 sale, the insider now owns 42,311 shares in the company, valued at $4,892,420.93. The trade was a 8.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,198 shares of company stock valued at $2,445,314. 1.47% of the stock is owned by insiders.

Analysts Set New Price Targets

WTFC has been the subject of a number of analyst reports. UBS Group began coverage on Wintrust Financial in a report on Tuesday. They set a "buy" rating and a $157.00 target price for the company. Citigroup upped their price objective on Wintrust Financial from $126.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. DA Davidson lifted their target price on Wintrust Financial from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Barclays increased their price target on shares of Wintrust Financial from $130.00 to $151.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Finally, Piper Sandler raised their price target on shares of Wintrust Financial from $131.00 to $136.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Three 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $128.00.

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.