Bank of America Corp DE Trims Holdings in Wintrust Financial Corporation $WTFC

Key Points

• Bank of America reduced its Wintrust Financial stake by 3.1% in the first quarter, selling 32,641 shares and retaining 1,018,578 shares valued at approximately $141.5 million. Institutional investors collectively own 93.48% of the company.
• Analyst sentiment remains positive, with nine Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $177.77.
• Wintrust exceeded quarterly expectations, reporting $3.30 EPS and $738.63 million in revenue, while revenue grew 10.1% year over year. The company also declared a quarterly dividend of $0.55 per share, representing a 1.4% yield.

Bank of America Corp DE lowered its stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,018,578 shares of the bank's stock after selling 32,641 shares during the quarter. Bank of America Corp DE owned approximately 1.51% of Wintrust Financial worth $141,521,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System raised its stake in Wintrust Financial by 24.1% during the first quarter. California State Teachers Retirement System now owns 78,726 shares of the bank's stock valued at $10,938,000 after buying an additional 15,309 shares in the last quarter. Empowered Funds LLC grew its position in shares of Wintrust Financial by 1,239.7% in the 1st quarter. Empowered Funds LLC now owns 18,796 shares of the bank's stock worth $2,612,000 after acquiring an additional 17,393 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Wintrust Financial by 68.8% in the 1st quarter. Quantinno Capital Management LP now owns 282,378 shares of the bank's stock valued at $39,234,000 after acquiring an additional 115,097 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in shares of Wintrust Financial in the 1st quarter valued at approximately $13,065,000. Finally, Gateway Wealth Partners LLC acquired a new stake in shares of Wintrust Financial during the 1st quarter valued at approximately $575,000. Institutional investors own 93.48% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on WTFC shares. Truist Financial lifted their target price on Wintrust Financial from $170.00 to $183.00 and gave the company a "buy" rating in a research note on Friday, July 10th. 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 report on Wednesday, July 22nd. UBS Group restated a "neutral" rating and issued a $170.00 price objective on shares of Wintrust Financial in a report on Tuesday, July 7th. Brean Capital lowered shares of Wintrust Financial from a "buy" rating to a "neutral" rating and set a $170.00 price objective for the company. in a research report on Tuesday, July 21st. Finally, Raymond James Financial assumed coverage on shares of Wintrust Financial in a report on Tuesday, July 7th. They issued an "outperform" rating and a $180.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $177.77.

Wintrust Financial Trading Down 0.9%

Wintrust Financial stock opened at $161.44 on Thursday. The company has a 50 day moving average price of $158.25 and a 200 day moving average price of $150.37. Wintrust Financial Corporation has a 52 week low of $119.61 and a 52 week high of $167.21. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 0.98. The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of 12.97 and a beta of 0.85.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its earnings results on Monday, July 20th. The bank reported $3.30 earnings per share (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 company had revenue of $738.63 million for the quarter, compared to the consensus estimate of $735.36 million. During the same period in the previous year, the business earned $2.78 EPS. The company's revenue was up 10.1% on a year-over-year basis. Research analysts forecast that Wintrust Financial Corporation will post 13.04 EPS for the current year.

Wintrust Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, August 6th. Wintrust Financial's dividend payout ratio is 17.67%.

Wintrust Financial Company 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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