Granite Investment Partners LLC reduced its position in shares of Wintrust Financial Co. (NASDAQ:WTFC - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 282,551 shares of the bank's stock after selling 6,048 shares during the quarter. Wintrust Financial comprises 1.5% of Granite Investment Partners LLC's portfolio, making the stock its 10th largest holding. Granite Investment Partners LLC owned about 0.42% of Wintrust Financial worth $35,237,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Wintrust Financial by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 6,911,488 shares of the bank's stock worth $861,932,000 after buying an additional 58,162 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Wintrust Financial by 11.3% in 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of Wintrust Financial by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,165,898 shares of the bank's stock valued at $145,443,000 after purchasing an additional 10,172 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Wintrust Financial by 2.8% during the fourth quarter. Invesco Ltd. now owns 1,098,706 shares of the bank's stock valued at $137,020,000 after purchasing an additional 29,967 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Wintrust Financial by 41.3% in the 4th quarter. Clearbridge Investments LLC now owns 865,409 shares of the bank's stock valued at $107,925,000 after purchasing an additional 253,050 shares during the period. 93.48% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. StockNews.com cut shares of Wintrust Financial from a "hold" rating to a "sell" rating in a report on Saturday, February 15th. Truist Financial upgraded shares of Wintrust Financial to a "strong-buy" rating in a report on Monday, January 6th. Barclays decreased their target price on Wintrust Financial from $155.00 to $138.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Piper Sandler raised their price objective on shares of Wintrust Financial from $151.00 to $156.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $152.00 price target on shares of Wintrust Financial in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Wintrust Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $132.38.
Check Out Our Latest Research Report on WTFC
Insider Buying and Selling
In other Wintrust Financial news, insider Richard B. Murphy sold 3,186 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $131.30, for a total value of $418,321.80. Following the completion of the sale, the insider now owns 48,814 shares in the company, valued at approximately $6,409,278.20. This trade represents a 6.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David L. Stoehr sold 2,363 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $131.32, for a total transaction of $310,309.16. Following the transaction, the chief financial officer now owns 19,858 shares in the company, valued at $2,607,752.56. The trade was a 10.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,178 shares of company stock worth $1,336,315 in the last three months. Insiders own 1.47% of the company's stock.
Wintrust Financial Price Performance
Shares of Wintrust Financial stock traded up $0.90 during midday trading on Friday, hitting $102.51. 653,968 shares of the company were exchanged, compared to its average volume of 414,319. The firm has a 50 day simple moving average of $113.61 and a 200-day simple moving average of $121.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.00. The firm has a market cap of $6.86 billion, a P/E ratio of 9.94 and a beta of 0.94. Wintrust Financial Co. has a 52 week low of $89.10 and a 52 week high of $142.04.
Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its earnings results on Tuesday, January 21st. The bank reported $2.63 EPS 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 period in the prior year, the firm posted $1.87 EPS. Research analysts forecast that Wintrust Financial Co. will post 10.36 earnings per share for the current year.
Wintrust Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, May 8th. Wintrust Financial's payout ratio is currently 19.40%.
Wintrust Financial Company 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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