Bank of New York Mellon Corp Sells 4,758 Shares of Wintrust Financial Co. (NASDAQ:WTFC)

Bank of New York Mellon Corp cut its position in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 0.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 673,637 shares of the bank’s stock after selling 4,758 shares during the quarter. Bank of New York Mellon Corp owned 1.09% of Wintrust Financial worth $66,394,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WTFC. Capital International Investors boosted its stake in shares of Wintrust Financial by 79.5% during the 4th quarter. Capital International Investors now owns 1,566,003 shares of the bank’s stock worth $145,247,000 after buying an additional 693,452 shares during the last quarter. Norges Bank bought a new stake in Wintrust Financial during the fourth quarter worth about $61,898,000. Principal Financial Group Inc. boosted its position in Wintrust Financial by 136.7% during the fourth quarter. Principal Financial Group Inc. now owns 860,623 shares of the bank’s stock valued at $79,823,000 after purchasing an additional 497,065 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Wintrust Financial in the fourth quarter valued at approximately $31,267,000. Finally, Vanguard Group Inc. increased its position in shares of Wintrust Financial by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock worth $673,603,000 after purchasing an additional 244,168 shares during the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Truist Financial lifted their price objective on shares of Wintrust Financial from $107.00 to $118.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Wedbush boosted their price target on Wintrust Financial from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Jefferies Financial Group cut their price objective on Wintrust Financial from $118.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Stephens restated an “overweight” rating and issued a $115.00 price target on shares of Wintrust Financial in a research note on Thursday, July 18th. Finally, DA Davidson lifted their price objective on shares of Wintrust Financial from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wintrust Financial presently has an average rating of “Moderate Buy” and an average target price of $117.85.

Wintrust Financial Price Performance

Shares of Wintrust Financial stock opened at $108.80 on Friday. The company has a 50-day simple moving average of $102.54 and a two-hundred day simple moving average of $99.59. Wintrust Financial Co. has a twelve month low of $71.86 and a twelve month high of $113.68. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 11.25 and a beta of 1.18. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.85.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings results on Wednesday, July 17th. The bank reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.10). The business had revenue of $591.76 million during the quarter, compared to analyst estimates of $587.33 million. Wintrust Financial had a net margin of 17.02% and a return on equity of 12.71%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.38 earnings per share. Analysts forecast that Wintrust Financial Co. will post 10.11 EPS for the current year.

Wintrust Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Thursday, August 8th. Wintrust Financial’s dividend payout ratio (DPR) is currently 18.61%.

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.