Gabelli Funds LLC Makes New Investment in Wintrust Financial Corporation $WTFC

Gabelli Funds LLC bought a new position in shares of Wintrust Financial Corporation (NASDAQ:WTFC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 54,026 shares of the bank’s stock, valued at approximately $6,698,000. Gabelli Funds LLC owned 0.08% of Wintrust Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of WTFC. Gamco Investors INC. ET AL bought a new stake in shares of Wintrust Financial during the 2nd quarter valued at about $1,433,000. Kennedy Capital Management LLC increased its position in Wintrust Financial by 6.3% in the second quarter. Kennedy Capital Management LLC now owns 242,179 shares of the bank’s stock worth $30,025,000 after buying an additional 14,379 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Wintrust Financial by 400.0% in the second quarter. EverSource Wealth Advisors LLC now owns 400 shares of the bank’s stock valued at $50,000 after buying an additional 320 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Wintrust Financial by 9.0% during the second quarter. Invesco Ltd. now owns 1,229,858 shares of the bank’s stock valued at $152,478,000 after acquiring an additional 101,134 shares during the period. Finally, Fort Sheridan Advisors LLC acquired a new position in shares of Wintrust Financial during the second quarter valued at $206,000. 93.48% of the stock is currently owned by institutional investors.

Wintrust Financial Stock Down 1.0%

WTFC opened at $136.16 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $9.12 billion, a PE ratio of 12.51 and a beta of 0.90. The stock’s fifty day moving average is $130.36 and its 200-day moving average is $129.40. Wintrust Financial Corporation has a one year low of $89.10 and a one year high of $141.69.

Wintrust Financial (NASDAQ:WTFC) last released its earnings results on Thursday, November 6th. The bank reported $3.06 earnings per share (EPS) for the quarter. Wintrust Financial had a return on equity of 12.82% and a net margin of 18.85%.The firm had revenue of $1.26 billion for the quarter. On average, equities analysts predict that Wintrust Financial Corporation will post 10.36 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $2.00 annualized dividend and a yield of 1.5%. Wintrust Financial’s dividend payout ratio is currently 18.38%.

Wall Street Analysts Forecast Growth

WTFC has been the topic of several recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $161.00 price objective (up from $160.00) on shares of Wintrust Financial in a research report on Wednesday, October 22nd. Jefferies Financial Group reduced their price objective on Wintrust Financial from $165.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, October 21st. TD Cowen initiated coverage on Wintrust Financial in a research report on Thursday, September 25th. They issued a “buy” rating and a $166.00 target price on the stock. Truist Financial lifted their target price on Wintrust Financial from $151.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Wintrust Financial in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $152.92.

Wintrust Financial Company Profile

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.