First Trust Advisors LP raised its stake in Wintrust Financial Corp (NASDAQ:WTFC) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,602 shares of the bank’s stock after purchasing an additional 16,434 shares during the period. First Trust Advisors LP’s holdings in Wintrust Financial were worth $12,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of WTFC. AdvisorNet Financial Inc purchased a new position in shares of Wintrust Financial in the 3rd quarter valued at about $71,000. First Mercantile Trust Co. purchased a new position in shares of Wintrust Financial in the 4th quarter valued at about $116,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Wintrust Financial by 31.9% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,237 shares of the bank’s stock valued at $164,000 after acquiring an additional 541 shares during the last quarter. Meristem Family Wealth LLC purchased a new position in shares of Wintrust Financial in the 4th quarter valued at about $207,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Wintrust Financial by 9.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,466 shares of the bank’s stock valued at $224,000 after acquiring an additional 307 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on WTFC shares. TheStreet downgraded Wintrust Financial from a “b-” rating to a “c+” rating in a report on Thursday, February 6th. Piper Sandler reiterated a “neutral” rating and issued a $72.00 price objective on shares of Wintrust Financial in a report on Tuesday, January 14th. Royal Bank of Canada set a $75.00 price objective on Wintrust Financial and gave the company a “buy” rating in a report on Friday, October 18th. DA Davidson reiterated a “buy” rating on shares of Wintrust Financial in a report on Monday, November 18th. Finally, Stephens dropped their price objective on Wintrust Financial from $78.00 to $74.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $74.90.
Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.14). The firm had revenue of $374.10 million for the quarter, compared to analysts’ expectations of $375.76 million. Wintrust Financial had a return on equity of 10.50% and a net margin of 19.85%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.35 EPS. As a group, sell-side analysts anticipate that Wintrust Financial Corp will post 5.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Wintrust Financial’s previous quarterly dividend of $0.25. Wintrust Financial’s dividend payout ratio (DPR) is currently 18.57%.
In related news, EVP Thomas P. Zidar sold 2,948 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $63.60, for a total transaction of $187,492.80. Following the transaction, the executive vice president now owns 33,141 shares in the company, valued at approximately $2,107,767.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary D. Sweeney purchased 470 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average price of $63.23 per share, for a total transaction of $29,718.10. Following the purchase, the director now directly owns 5,648 shares in the company, valued at $357,123.04. The disclosure for this purchase can be found here. Company insiders own 1.58% of the company’s stock.
Wintrust Financial Profile
Wintrust Financial Corporation operates as a financial holding company in the Chicago metropolitan area, southern Wisconsin, and northwest Indiana. 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), Internet banking, and other services.
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