Bank of Nova Scotia Invests $16.78 Million in Wintrust Financial Corporation $WTFC

Bank of Nova Scotia purchased a new stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 104,401 shares of the bank's stock, valued at approximately $16,779,000. Bank of Nova Scotia owned 0.15% of Wintrust Financial as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its stake in shares of Wintrust Financial by 7.7% in the 1st quarter. Parallel Advisors LLC now owns 976 shares of the bank's stock valued at $136,000 after acquiring an additional 70 shares during the period. MeadowBrook Investment Advisors LLC raised its position in Wintrust Financial by 3.0% in the first quarter. MeadowBrook Investment Advisors LLC now owns 2,545 shares of the bank's stock valued at $354,000 after purchasing an additional 75 shares during the period. Quadrant Capital Group LLC lifted its stake in Wintrust Financial by 0.9% during the fourth quarter. Quadrant Capital Group LLC now owns 8,914 shares of the bank's stock worth $1,246,000 after purchasing an additional 83 shares in the last quarter. Cresset Asset Management LLC boosted its position in shares of Wintrust Financial by 2.4% during the third quarter. Cresset Asset Management LLC now owns 3,730 shares of the bank's stock worth $494,000 after buying an additional 88 shares during the period. Finally, Compound Planning Inc. boosted its position in shares of Wintrust Financial by 5.3% during the first quarter. Compound Planning Inc. now owns 1,868 shares of the bank's stock worth $260,000 after buying an additional 94 shares during the period. Hedge funds and other institutional investors own 93.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WTFC shares. Raymond James Financial started coverage on Wintrust Financial in a report on Tuesday, July 7th. They issued an "outperform" rating and a $180.00 price objective on the stock. DA Davidson increased their price target on shares of Wintrust Financial from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Piper Sandler set a $186.00 price objective on shares of Wintrust Financial in a research note on Wednesday, July 22nd. UBS Group reissued a "neutral" rating and issued a $170.00 price target on shares of Wintrust Financial in a research report on Tuesday, July 7th. Finally, Capital One Financial set a $170.00 price target on shares of Wintrust Financial in a research note on Tuesday, July 21st. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Wintrust Financial has a consensus rating of "Moderate Buy" and an average target price of $177.77.

Wintrust Financial Price Performance

WTFC stock opened at $151.99 on Tuesday. The business has a 50 day moving average price of $159.70 and a 200 day moving average price of $151.30. 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 stock has a market cap of $10.25 billion, a price-to-earnings ratio of 12.21 and a beta of 0.85. 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 announced its quarterly earnings results 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 company had revenue of $738.63 million for the quarter, compared to analyst estimates of $735.36 million. During the same period in the prior year, the firm posted $2.78 earnings per share. The firm's revenue was up 10.1% on a year-over-year basis. Equities research analysts anticipate that Wintrust Financial Corporation will post 13.04 earnings per share for the current fiscal year.

Wintrust Financial Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.4%. Wintrust Financial's dividend payout ratio (DPR) is presently 17.67%.

Insider Activity

In other news, COO David A. Dykstra sold 13,515 shares of Wintrust Financial stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $162.77, for a total transaction of $2,199,836.55. Following the sale, the chief operating officer owned 166,449 shares in the company, valued at approximately $27,092,903.73. The trade was a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.24% of the company's stock.

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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