Avantax Advisory Services Inc. Raises Stake in Wintrust Financial Corporation (NASDAQ:WTFC)

Avantax Advisory Services Inc. increased its stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 70.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,772 shares of the bank's stock after acquiring an additional 2,789 shares during the period. Avantax Advisory Services Inc.'s holdings in Wintrust Financial were worth $762,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of WTFC. Earnest Partners LLC acquired a new position in shares of Wintrust Financial during the 4th quarter worth about $163,767,000. Alyeska Investment Group L.P. acquired a new stake in Wintrust Financial in the 4th quarter worth about $51,754,000. First Trust Advisors LP boosted its holdings in Wintrust Financial by 36.5% in the 4th quarter. First Trust Advisors LP now owns 1,263,837 shares of the bank's stock valued at $157,613,000 after purchasing an additional 337,763 shares during the period. Raymond James Financial Inc. bought a new position in shares of Wintrust Financial during the fourth quarter worth approximately $40,562,000. Finally, Bank of America Corp DE raised its position in shares of Wintrust Financial by 55.6% in the fourth quarter. Bank of America Corp DE now owns 897,932 shares of the bank's stock valued at $111,981,000 after buying an additional 320,954 shares in the last quarter. 93.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Wintrust Financial

In other Wintrust Financial news, COO David A. Dykstra sold 14,942 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $131.53, for a total value of $1,965,321.26. Following the transaction, the chief operating officer owned 182,208 shares in the company, valued at approximately $23,965,818.24. This represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward J. Wehmer acquired 3,919 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were purchased at an average price of $26.35 per share, with a total value of $103,265.65. Following the acquisition, the insider owned 3,919 shares of the company's stock, valued at approximately $103,265.65. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.01% of the company's stock.

Wintrust Financial Trading Down 0.6%

NASDAQ:WTFC traded down $0.80 during trading hours on Wednesday, hitting $125.02. 372,415 shares of the company were exchanged, compared to its average volume of 449,592. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 11.83 and a beta of 0.85. The company has a fifty day simple moving average of $126.04 and a 200 day simple moving average of $120.26. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. Wintrust Financial Corporation has a one year low of $89.10 and a one year high of $142.04.

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

Wintrust Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, August 7th. Wintrust Financial's payout ratio is presently 18.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. DA Davidson lifted their price objective on Wintrust Financial from $135.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen raised Wintrust Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Royal Bank Of Canada raised their target price on shares of Wintrust Financial from $137.00 to $158.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Truist Financial boosted their target price on shares of Wintrust Financial from $137.00 to $151.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Stephens reduced their price target on shares of Wintrust Financial from $145.00 to $132.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Three research 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $145.77.

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.