Bank of New York Mellon Corp Acquires New Stake in Wintrust Financial Corporation $WTFC

Key Points

• Bank of New York Mellon acquired 574,854 Wintrust Financial shares worth approximately $92.4 million, representing about 0.85% of the company. Institutional investors and hedge funds collectively own 93.48% of WTFC.
• Analysts maintain a generally positive outlook, with nine Buy ratings and four Holds, resulting in a “Moderate Buy” consensus and an average price target of $177.77.
• Wintrust reported quarterly EPS of $3.30, beating estimates of $3.15, while revenue rose 10.1% year over year to $738.63 million. The company also pays a quarterly dividend of $0.55 per share, a 1.4% annualized yield.

Bank of New York Mellon Corp bought a new position in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 574,854 shares of the bank's stock, valued at approximately $92,391,000. Bank of New York Mellon Corp owned approximately 0.85% of Wintrust Financial at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in shares of Wintrust Financial during the 2nd quarter worth approximately $1,437,000. Handelsbanken Fonder AB increased its holdings in shares of Wintrust Financial by 7.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 16,723 shares of the bank's stock worth $2,688,000 after buying an additional 1,100 shares during the last quarter. Reinhart Partners LLC. grew its holdings in shares of Wintrust Financial by 0.5% during the 2nd quarter. Reinhart Partners LLC. now owns 527,152 shares of the bank's stock worth $84,727,000 after purchasing an additional 2,592 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Wintrust Financial in the second quarter worth $49,000. Finally, GAMMA Investing LLC lifted its position in Wintrust Financial by 14.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,270 shares of the bank's stock worth $365,000 after acquiring an additional 278 shares in the last quarter. 93.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WTFC shares. UBS Group reissued a "neutral" rating and issued a $170.00 price target on shares of Wintrust Financial in a report on Tuesday, July 7th. Citigroup downgraded Wintrust Financial from a "buy" rating to a "hold" rating in a report on Tuesday, July 21st. Piper Sandler set a $186.00 price target on Wintrust Financial in a report on Wednesday, July 22nd. DA Davidson increased their price objective on Wintrust Financial from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Finally, Capital One Financial set a $170.00 price objective on shares of Wintrust Financial in a research note on Tuesday, July 21st. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $177.77.

Wintrust Financial Trading Down 0.4%

Shares of Wintrust Financial stock opened at $151.99 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 firm has a market cap of $10.25 billion, a price-to-earnings ratio of 12.21 and a beta of 0.85. The business has a fifty day simple moving average of $159.70 and a 200-day simple moving average of $151.30. Wintrust Financial Corporation has a fifty-two week low of $119.61 and a fifty-two week high of $167.21.

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

Wintrust Financial Announces Dividend

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

Insider Buying and Selling

In related news, COO David A. Dykstra sold 13,515 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $162.77, for a total transaction of $2,199,836.55. Following the completion of the sale, the chief operating officer directly owned 166,449 shares in the company, valued at approximately $27,092,903.73. This trade represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.24% of the stock is currently owned by corporate 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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