Advisors Capital Management LLC acquired a new stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 20,654 shares of the bank's stock, valued at approximately $3,320,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Wintrust Financial in the second quarter valued at approximately $1,058,088,000. First Trust Advisors LP raised its holdings in shares of Wintrust Financial by 26.6% during the first quarter. First Trust Advisors LP now owns 1,830,268 shares of the bank's stock worth $254,297,000 after acquiring an additional 385,069 shares during the period. Geode Capital Management LLC lifted its position in Wintrust Financial by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,273,042 shares of the bank's stock valued at $178,038,000 after acquiring an additional 16,997 shares in the last quarter. Bank of America Corp DE lifted its position in Wintrust Financial by 1.4% in the 3rd quarter. Bank of America Corp DE now owns 1,071,763 shares of the bank's stock valued at $141,944,000 after acquiring an additional 15,044 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Wintrust Financial by 22.2% in the 4th quarter. Wellington Management Group LLP now owns 832,352 shares of the bank's stock worth $116,379,000 after purchasing an additional 151,385 shares during the period. 93.48% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have issued reports on WTFC shares. Barclays lifted their price target on Wintrust Financial from $190.00 to $192.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. DA Davidson increased their price objective on Wintrust Financial from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. UBS Group reissued a "neutral" rating and issued a $170.00 target price on shares of Wintrust Financial in a research report on Tuesday, July 7th. TD Cowen cut their target price on Wintrust Financial from $184.00 to $183.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Finally, Brean Capital downgraded Wintrust Financial from a "buy" rating to a "neutral" rating and set a $170.00 price target for the company. in a research report on Tuesday, July 21st. Nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $177.77.
Check Out Our Latest Analysis on WTFC
Insider Transactions at Wintrust Financial
In other Wintrust Financial news, COO David A. Dykstra sold 13,515 shares of Wintrust Financial stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $162.77, for a total value of $2,199,836.55. Following the completion of the transaction, the chief operating officer directly owned 166,449 shares of the company's stock, valued at $27,092,903.73. The trade was a 7.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.24% of the stock is owned by corporate insiders.
Wintrust Financial Price Performance
Shares of NASDAQ WTFC opened at $152.67 on Friday. The firm has a market cap of $10.30 billion, a P/E ratio of 12.26 and a beta of 0.85. The business's 50 day moving average is $159.79 and its 200-day moving average is $151.32. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. Wintrust Financial Corporation has a 1-year low of $119.61 and a 1-year high of $167.21.
Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The bank reported $3.30 EPS for the quarter, beating analysts' consensus estimates of $3.15 by $0.15. The firm had revenue of $738.63 million for the quarter, compared to analyst estimates of $735.36 million. Wintrust Financial had a return on equity of 13.37% and a net margin of 20.72%.The company's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.78 EPS. Equities research analysts predict that Wintrust Financial Corporation will post 13.04 earnings per share for the current year.
Wintrust Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Thursday, August 6th. Wintrust Financial's payout ratio is 17.67%.
About Wintrust Financial
(
Free Report)
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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