Allspring Global Investments Holdings LLC Lowers Position in Wintrust Financial Corporation $WTFC

Key Points

• Allspring Global Investments cut its Wintrust Financial stake by 22.8% in the first quarter, selling 43,401 shares and ending with 147,086 shares valued at about $20.6 million.
• Wintrust Financial’s latest quarterly results beat expectations, with EPS of $3.30 versus the $3.15 estimate and revenue of $961.4 million versus $735.4 million expected.
• Despite some insider selling, Wall Street remains mostly positive on WTFC: analysts currently rate it a Moderate Buy with an average price target of $174.92.

Allspring Global Investments Holdings LLC lessened its holdings in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 22.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,086 shares of the bank's stock after selling 43,401 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.22% of Wintrust Financial worth $20,601,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WTFC. Norges Bank bought a new stake in Wintrust Financial during the fourth quarter valued at approximately $111,924,000. Wellington Management Group LLP bought a new position in shares of Wintrust Financial in the 3rd quarter worth $90,187,000. Artemis Investment Management LLP bought a new position in shares of Wintrust Financial in the 4th quarter worth $59,287,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Wintrust Financial during the 1st quarter valued at $34,272,000. Finally, Balyasny Asset Management L.P. raised its position in shares of Wintrust Financial by 491.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 254,329 shares of the bank's stock valued at $35,560,000 after buying an additional 211,338 shares in the last quarter. Hedge funds and other institutional investors own 93.48% of the company's stock.

Wintrust Financial Stock Performance

Wintrust Financial stock opened at $163.66 on Tuesday. 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 has a market capitalization of $11.04 billion, a PE ratio of 13.72 and a beta of 0.84. The firm has a fifty day simple moving average of $155.48 and a two-hundred day simple moving average of $149.06. Wintrust Financial Corporation has a twelve month low of $119.61 and a twelve month high of $167.21.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its quarterly earnings data on Monday, July 20th. The bank reported $3.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.15 by $0.15. The firm had revenue of $961.41 million for the quarter, compared to analysts' expectations of $735.36 million. Wintrust Financial had a return on equity of 13.15% and a net margin of 20.11%.During the same period last year, the firm earned $2.78 earnings per share. Research analysts expect that Wintrust Financial Corporation will post 13.03 EPS for the current year.

Wall Street Analyst Weigh In

WTFC has been the subject of several research reports. Piper Sandler reiterated an "overweight" rating and issued a $188.00 target price (up from $184.00) on shares of Wintrust Financial in a research report on Wednesday, April 22nd. Weiss Ratings restated a "buy (b)" rating on shares of Wintrust Financial in a research report on Monday, June 29th. TD Cowen lifted their price target on Wintrust Financial from $173.00 to $176.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. DA Davidson reiterated a "buy" rating and issued a $185.00 price objective on shares of Wintrust Financial in a report on Tuesday, June 30th. Finally, UBS Group reiterated a "neutral" rating and set a $170.00 price objective on shares of Wintrust Financial in a research report on Tuesday, July 7th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $174.92.

Insider Buying and Selling

In related news, CFO David L. Stoehr sold 3,020 shares of the company's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $150.45, for a total transaction of $454,359.00. Following the completion of the sale, the chief financial officer directly owned 13,213 shares in the company, valued at $1,987,895.85. This represents a 18.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Suzet M. Mckinney sold 500 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $148.96, for a total transaction of $74,480.00. Following the sale, the director directly owned 3,303 shares of the company's stock, valued at $492,014.88. The trade was a 13.15% decrease in their position. 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 in the last ninety days. 1.24% of the stock is owned by insiders.

Wintrust Financial Profile

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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