Bank of Montreal Can Takes $1.24 Million Position in Wintrust Financial Co. (NASDAQ:WTFC)

Bank of Montreal Can bought a new stake in Wintrust Financial Co. (NASDAQ:WTFC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,005 shares of the bank’s stock, valued at approximately $1,237,000.

Several other institutional investors also recently modified their holdings of WTFC. BlackRock Inc. grew its holdings in Wintrust Financial by 2.0% during the first quarter. BlackRock Inc. now owns 6,156,440 shares of the bank’s stock valued at $449,112,000 after purchasing an additional 119,790 shares during the period. Vanguard Group Inc. grew its holdings in Wintrust Financial by 1.9% during the third quarter. Vanguard Group Inc. now owns 5,928,458 shares of the bank’s stock valued at $483,466,000 after purchasing an additional 109,995 shares during the period. FMR LLC grew its holdings in Wintrust Financial by 0.3% during the first quarter. FMR LLC now owns 3,616,392 shares of the bank’s stock valued at $263,816,000 after purchasing an additional 11,279 shares during the period. State Street Corp grew its holdings in Wintrust Financial by 8.7% during the first quarter. State Street Corp now owns 2,726,337 shares of the bank’s stock valued at $253,358,000 after purchasing an additional 217,232 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Wintrust Financial by 4.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,598,362 shares of the bank’s stock valued at $189,549,000 after purchasing an additional 115,981 shares during the period. 92.00% of the stock is owned by institutional investors.

Wintrust Financial Trading Up 1.2 %

Shares of WTFC stock opened at $78.02 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.97 and a current ratio of 0.98. Wintrust Financial Co. has a 52-week low of $57.48 and a 52-week high of $95.97. The company has a market capitalization of $4.78 billion, a PE ratio of 7.85 and a beta of 1.20. The business’s fifty day moving average is $75.95 and its 200 day moving average is $74.16.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings data on Wednesday, October 18th. The bank reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.12. Wintrust Financial had a return on equity of 14.14% and a net margin of 20.73%. The company had revenue of $574.84 million for the quarter, compared to the consensus estimate of $570.01 million. During the same quarter last year, the business posted $2.21 earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts anticipate that Wintrust Financial Co. will post 10.19 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, November 9th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. Wintrust Financial’s payout ratio is 16.10%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WTFC shares. Stephens reissued an “overweight” rating and set a $90.00 price objective on shares of Wintrust Financial in a report on Thursday, July 20th. Royal Bank of Canada dropped their target price on Wintrust Financial from $100.00 to $94.00 in a research report on Tuesday, October 10th. StockNews.com started coverage on Wintrust Financial in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Raymond James dropped their target price on Wintrust Financial from $100.00 to $95.00 and set a “strong-buy” rating on the stock in a research report on Thursday, October 19th. Finally, Truist Financial increased their target price on Wintrust Financial from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $92.73.

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.