AXQ Capital LP Takes $1.24 Million Position in Wintrust Financial Corporation $WTFC

Key Points

• AXQ Capital purchased 7,724 Wintrust Financial shares in the second quarter, valued at approximately $1.24 million. Institutional investors collectively own 93.48% of the company.
• Wall Street analysts maintain a generally positive view, with nine Buy ratings and four Holds. Wintrust has a “Moderate Buy” consensus rating and an average price target of $177.77.
• Wintrust exceeded quarterly expectations with earnings of $3.30 per share and revenue of $738.63 million, while revenue increased 10.1% year over year. The company also declared a quarterly dividend of $0.55 per share, representing a 1.4% yield.

AXQ Capital LP purchased a new position in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,724 shares of the bank's stock, valued at approximately $1,241,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WTFC. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Wintrust Financial during the 2nd quarter valued at $27,000. Advisors Asset Management Inc. purchased a new stake in Wintrust Financial during the first quarter valued at $27,000. Elyxium Wealth LLC bought a new position in Wintrust Financial in the fourth quarter valued at about $31,000. Creative Financial Designs Inc. ADV lifted its holdings 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 acquiring an additional 160 shares during the period. Finally, Harbour Investments Inc. boosted its position in Wintrust Financial by 72.7% in the fourth quarter. Harbour Investments Inc. now owns 240 shares of the bank's stock worth $34,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 93.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WTFC. Capital One Financial set a $170.00 price target on shares of Wintrust Financial in a research report on Tuesday, July 21st. Piper Sandler set a $186.00 price objective on shares of Wintrust Financial in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wintrust Financial in a report on Monday, June 29th. Barclays increased their price target on shares of Wintrust Financial from $190.00 to $192.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Finally, TD Cowen dropped their price target on shares of Wintrust Financial from $184.00 to $183.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $177.77.

Insider Buying and Selling

In other news, COO David Dykstra sold 13,515 shares of the business's stock in a transaction dated 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 transaction, the chief operating officer directly owned 166,449 shares in the company, valued at $27,092,903.73. The trade was a 7.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.24% of the stock is currently owned by corporate insiders.

Wintrust Financial Stock Performance

WTFC opened at $154.12 on Friday. The firm has a market cap of $10.40 billion, a P/E ratio of 12.38 and a beta of 0.84. Wintrust Financial Corporation has a 1-year low of $119.61 and a 1-year high of $167.21. The company has a 50 day simple moving average of $158.76 and a two-hundred day simple moving average of $151.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.98 and a quick ratio of 0.97.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its quarterly earnings data on Monday, July 20th. The bank reported $3.30 EPS for the quarter, beating the consensus estimate of $3.15 by $0.15. Wintrust Financial had a net margin of 20.72% and a return on equity of 13.37%. The firm had revenue of $738.63 million for the quarter, compared to the consensus estimate of $735.36 million. During the same period last year, the firm earned $2.78 EPS. The company's revenue was up 10.1% on a year-over-year basis. Equities analysts forecast that Wintrust Financial Corporation will post 13.04 earnings per share for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $2.20 dividend on an annualized basis and a yield of 1.4%. Wintrust Financial's dividend payout ratio (DPR) is currently 17.67%.

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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