Comerica Bank boosted its stake in Wintrust Financial Co. (NASDAQ:WTFC – Get Rating) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,625 shares of the bank’s stock after acquiring an additional 1,085 shares during the period. Comerica Bank’s holdings in Wintrust Financial were worth $2,536,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Pinebridge Investments L.P. raised its position in Wintrust Financial by 307.0% in the second quarter. Pinebridge Investments L.P. now owns 407 shares of the bank’s stock worth $33,000 after acquiring an additional 307 shares during the period. Private Trust Co. NA raised its position in shares of Wintrust Financial by 48.9% in the third quarter. Private Trust Co. NA now owns 411 shares of the bank’s stock valued at $34,000 after purchasing an additional 135 shares during the period. CoreCap Advisors LLC bought a new stake in shares of Wintrust Financial in the second quarter valued at approximately $76,000. Trust Co. of Vermont bought a new stake in shares of Wintrust Financial in the second quarter valued at approximately $80,000. Finally, Wipfli Financial Advisors LLC bought a new stake in shares of Wintrust Financial in the third quarter valued at approximately $84,000. Institutional investors own 89.47% of the company’s stock.
Insider Transactions at Wintrust Financial
In other news, CFO David L. Stoehr sold 2,215 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $92.45, for a total value of $204,776.75. Following the completion of the sale, the chief financial officer now directly owns 11,266 shares in the company, valued at approximately $1,041,541.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.41% of the company’s stock.
Wintrust Financial Price Performance
Wintrust Financial (NASDAQ:WTFC – Get Rating) last released its quarterly earnings results on Tuesday, October 18th. The bank reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.10. The business had revenue of $502.93 million during the quarter, compared to analysts’ expectations of $497.95 million. Wintrust Financial had a net margin of 23.23% and a return on equity of 11.10%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.77 EPS. On average, analysts predict that Wintrust Financial Co. will post 8.41 EPS for the current fiscal year.
Wintrust Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Stockholders of record on Thursday, November 10th were issued a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.57%. Wintrust Financial’s payout ratio is 18.50%.
Analyst Ratings Changes
Several research firms have recently issued reports on WTFC. StockNews.com lowered shares of Wintrust Financial from a “buy” rating to a “hold” rating in a research report on Saturday, November 19th. Piper Sandler boosted their price objective on shares of Wintrust Financial from $107.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, October 20th. UBS Group boosted their price objective on shares of Wintrust Financial to $100.00 in a research note on Wednesday, November 16th. Raymond James boosted their price objective on shares of Wintrust Financial from $111.00 to $118.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 20th. Finally, Royal Bank of Canada boosted their price objective on shares of Wintrust Financial from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, October 20th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Wintrust Financial currently has a consensus rating of “Moderate Buy” and an average price target of $109.63.
About Wintrust Financial
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.
- Get a free copy of the StockNews.com research report on Wintrust Financial (WTFC)
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