Freestone Grove Partners LP Takes Position in Wintrust Financial Co. (NASDAQ:WTFC)

Freestone Grove Partners LP bought a new stake in Wintrust Financial Co. (NASDAQ:WTFC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 285,878 shares of the bank's stock, valued at approximately $35,652,000. Freestone Grove Partners LP owned 0.43% of Wintrust Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Comerica Bank grew its holdings in shares of Wintrust Financial by 16.8% during the 4th quarter. Comerica Bank now owns 56,293 shares of the bank's stock worth $7,020,000 after purchasing an additional 8,098 shares in the last quarter. AQR Capital Management LLC increased its holdings in Wintrust Financial by 13.3% in the 4th quarter. AQR Capital Management LLC now owns 99,561 shares of the bank's stock valued at $12,416,000 after buying an additional 11,700 shares during the period. Northern Trust Corp raised its stake in shares of Wintrust Financial by 20.2% in the 4th quarter. Northern Trust Corp now owns 709,182 shares of the bank's stock valued at $88,442,000 after buying an additional 119,416 shares in the last quarter. Quarry LP bought a new position in shares of Wintrust Financial during the 4th quarter worth about $78,000. Finally, Earnest Partners LLC acquired a new position in Wintrust Financial in the fourth quarter worth about $163,767,000. 93.48% of the stock is owned by institutional investors and hedge funds.

Wintrust Financial Trading Down 0.8 %

Shares of WTFC traded down $0.96 during trading hours on Tuesday, hitting $114.20. 45,142 shares of the stock traded hands, compared to its average volume of 420,198. The business has a fifty day moving average of $109.30 and a 200-day moving average of $121.79. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $7.64 billion, a PE ratio of 11.09 and a beta of 0.81. Wintrust Financial Co. has a 1-year low of $89.10 and a 1-year high of $142.04.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The bank reported $2.69 earnings per share for the quarter, topping analysts' consensus estimates of $2.52 by $0.17. Wintrust Financial had a net margin of 17.52% and a return on equity of 12.60%. The business had revenue of $643.11 million during the quarter, compared to the consensus estimate of $643.11 million. During the same period in the previous year, the firm posted $2.89 earnings per share. Analysts expect that Wintrust Financial Co. will post 10.36 EPS for the current year.

Wintrust Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, May 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.75%. Wintrust Financial's dividend payout ratio (DPR) is presently 19.78%.

Analyst Ratings Changes

Several research firms have recently weighed in on WTFC. DA Davidson lowered their price objective on Wintrust Financial from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Stephens dropped their price objective on Wintrust Financial from $145.00 to $132.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Truist Financial reduced their target price on shares of Wintrust Financial from $150.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. StockNews.com upgraded shares of Wintrust Financial from a "sell" rating to a "hold" rating in a research report on Tuesday, April 29th. Finally, Piper Sandler reaffirmed an "above average" rating on shares of Wintrust Financial in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $133.54.

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.