Allspring Global Investments Holdings LLC Buys 8,794 Shares of Wintrust Financial Corporation $WTFC

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Wintrust Financial by 4.8%, purchasing an additional 8,794 shares, which brings its total holdings to 191,952 shares valued at approximately $24.5 million.
• Insider activity includes COO David A. Dykstra selling 14,942 shares while Edward J. Wehmer purchased 3,919 shares, reflecting differing management confidence in the company's future.
• Wintrust Financial reported strong earnings of $2.78 per share, exceeding expectations, along with a recent quarterly dividend announcement of $0.50 per share, signifying a strong financial position and shareholder returns.

Allspring Global Investments Holdings LLC lifted its stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 191,952 shares of the bank's stock after purchasing an additional 8,794 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.29% of Wintrust Financial worth $24,514,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Earnest Partners LLC raised its stake in shares of Wintrust Financial by 7.4% during the 1st quarter. Earnest Partners LLC now owns 1,410,773 shares of the bank's stock valued at $158,656,000 after purchasing an additional 97,587 shares during the period. Invesco Ltd. increased its stake in Wintrust Financial by 2.7% in the 1st quarter. Invesco Ltd. now owns 1,128,724 shares of the bank's stock worth $126,936,000 after acquiring an additional 30,018 shares during the last quarter. Northern Trust Corp increased its stake in Wintrust Financial by 20.2% in the 1st quarter. Northern Trust Corp now owns 852,583 shares of the bank's stock worth $95,881,000 after acquiring an additional 143,401 shares during the last quarter. Jennison Associates LLC increased its stake in Wintrust Financial by 53.3% in the 1st quarter. Jennison Associates LLC now owns 807,390 shares of the bank's stock worth $90,799,000 after acquiring an additional 280,568 shares during the last quarter. Finally, Reinhart Partners LLC. increased its stake in Wintrust Financial by 12.2% in the 2nd quarter. Reinhart Partners LLC. now owns 751,481 shares of the bank's stock worth $93,170,000 after acquiring an additional 81,763 shares during the last quarter. 93.48% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO David A. Dykstra sold 14,942 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $131.53, for a total transaction of $1,965,321.26. Following the completion of the sale, the chief operating officer directly owned 182,208 shares in the company, valued at $23,965,818.24. This represents a 7.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Edward J. Wehmer bought 3,919 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average price of $26.35 per share, with a total value of $103,265.65. Following the completion of the acquisition, the insider directly owned 3,919 shares in the company, valued at $103,265.65. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.01% of the company's stock.

Wintrust Financial Price Performance

Shares of Wintrust Financial stock opened at $120.24 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $8.05 billion, a PE ratio of 11.38 and a beta of 0.83. The business's 50-day moving average price is $132.43 and its 200-day moving average price is $123.62. Wintrust Financial Corporation has a 12 month low of $89.10 and a 12 month high of $142.04.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its earnings results on Monday, July 21st. The bank reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.19. The company had revenue of $670.78 million during the quarter, compared to analysts' expectations of $661.43 million. Wintrust Financial had a return on equity of 12.08% and a net margin of 18.06%.During the same period in the prior year, the business posted $2.32 EPS. Sell-side analysts forecast that Wintrust Financial Corporation will post 10.36 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, August 7th. This represents a $2.00 annualized dividend and a yield of 1.7%. Wintrust Financial's dividend payout ratio is currently 18.92%.

Analyst Ratings Changes

WTFC has been the topic of a number of research analyst reports. Royal Bank Of Canada upped their target price on Wintrust Financial from $137.00 to $158.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Cowen initiated coverage on Wintrust Financial in a research note on Wednesday, September 24th. They issued a "buy" rating on the stock. Barclays restated an "overweight" rating and issued a $175.00 target price on shares of Wintrust Financial in a research note on Wednesday, October 8th. DA Davidson upped their target price on Wintrust Financial from $135.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Wintrust Financial in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $149.57.

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.

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