800,487 Shares in Wintrust Financial Corporation $WTFC Bought by Norges Bank

Key Points

• Norges Bank bought 800,487 shares of Wintrust Financial in the fourth quarter, a stake valued at about $111.9 million and representing roughly 1.20% of the company.
• Wintrust Financial’s latest quarterly results beat expectations, with EPS of $3.22 versus $2.96 expected and revenue of $713.17 million, up 10.9% from a year earlier.
• Analysts remain generally positive on WTFC, with a consensus rating of “Moderate Buy” and an average price target of $168.92, while the stock recently traded around $152.49.

Norges Bank purchased a new position in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 800,487 shares of the bank's stock, valued at approximately $111,924,000. Norges Bank owned approximately 1.20% of Wintrust Financial at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new position in Wintrust Financial in the first quarter valued at $27,000. Elyxium Wealth LLC acquired a new position in Wintrust Financial in the fourth quarter valued at $31,000. Creative Financial Designs Inc. ADV increased its stake in Wintrust Financial by 231.9% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank's stock valued at $32,000 after purchasing an additional 160 shares during the period. Harbour Investments Inc. increased its stake in Wintrust Financial by 72.7% in the fourth quarter. Harbour Investments Inc. now owns 240 shares of the bank's stock valued at $34,000 after purchasing an additional 101 shares during the period. Finally, State of Wyoming acquired a new position in Wintrust Financial in the second quarter valued at $41,000. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WTFC has been the topic of a number of recent research reports. Truist Financial dropped their price objective on shares of Wintrust Financial from $170.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, March 23rd. Stephens initiated coverage on shares of Wintrust Financial in a research note on Friday, March 27th. They issued an "equal weight" rating and a $160.00 price objective on the stock. TD Cowen lifted their price objective on shares of Wintrust Financial from $173.00 to $176.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Barclays lifted their price objective on shares of Wintrust Financial from $185.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. Finally, Piper Sandler restated an "overweight" rating and issued a $188.00 price objective (up from $184.00) on shares of Wintrust Financial in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $168.92.

Insider Transactions at Wintrust Financial

In other news, CFO David L. Stoehr sold 3,020 shares of the business's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $150.45, for a total transaction of $454,359.00. Following the transaction, the chief financial officer directly owned 13,213 shares in the company, valued at $1,987,895.85. The trade was a 18.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO David A. Dykstra sold 9,579 shares of the business's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $148.82, for a total transaction of $1,425,546.78. Following the transaction, the chief operating officer owned 179,810 shares in the company, valued at approximately $26,759,324.20. This trade represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,099 shares of company stock worth $1,954,386 over the last ninety days. 1.24% of the stock is currently owned by company insiders.

Wintrust Financial Trading Up 3.0%

Shares of Wintrust Financial stock opened at $152.49 on Friday. Wintrust Financial Corporation has a 52-week low of $116.57 and a 52-week high of $162.96. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. The company's 50-day simple moving average is $146.55 and its 200-day simple moving average is $144.13. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of 12.78 and a beta of 0.84.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings results on Monday, April 20th. The bank reported $3.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.96 by $0.26. Wintrust Financial had a net margin of 20.11% and a return on equity of 13.15%. The business had revenue of $713.17 million for the quarter, compared to analyst estimates of $707.23 million. During the same period in the previous year, the business posted $2.69 earnings per share. The business's revenue was up 10.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Wintrust Financial Corporation will post 13.07 earnings per share for the current year.

Wintrust Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Thursday, May 14th. Wintrust Financial's payout ratio is 18.44%.

About Wintrust Financial

Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.

The firm's core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.

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