BlackRock Inc. acquired a new position in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,583,424 shares of the bank's stock, valued at approximately $1,058,088,000. BlackRock Inc. owned approximately 9.76% of Wintrust Financial at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Wintrust Financial during the second quarter worth about $27,000. Elyxium Wealth LLC bought a new stake in shares of Wintrust Financial in the 4th quarter valued at approximately $31,000. Creative Financial Designs Inc. ADV raised its holdings in shares of Wintrust Financial by 231.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank's stock worth $32,000 after buying an additional 160 shares in the last quarter. Advisors Asset Management Inc. bought a new position in shares of Wintrust Financial during the 1st quarter worth approximately $27,000. Finally, Harbour Investments Inc. lifted its position in shares of Wintrust Financial by 72.7% during the 4th quarter. Harbour Investments Inc. now owns 240 shares of the bank's stock worth $34,000 after buying an additional 101 shares during the period. 93.48% of the stock is currently owned by institutional investors.
Wintrust Financial Trading Up 0.0%
Shares of NASDAQ WTFC opened at $152.67 on Friday. The company's 50 day simple moving average is $159.79 and its 200 day simple moving average is $151.32. Wintrust Financial Corporation has a fifty-two week low of $119.61 and a fifty-two week high of $167.21. The firm has a market capitalization of $10.30 billion, a P/E ratio of 12.26 and a beta of 0.85. 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 issued its 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 during the quarter, compared to analysts' expectations of $735.36 million. During the same quarter in the previous year, the company posted $2.78 EPS. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. On average, analysts predict that Wintrust Financial Corporation will post 13.04 EPS for the current year.
Wintrust Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, August 6th. Wintrust Financial's payout ratio is presently 17.67%.
Insider Transactions at Wintrust Financial
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 transaction, the chief operating officer owned 166,449 shares in the company, valued at $27,092,903.73. The trade was a 7.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.24% of the company's stock.
Analysts Set New Price Targets
A number of analysts have weighed in on the company. Barclays upped their price target on Wintrust Financial from $190.00 to $192.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. TD Cowen lowered their target price on shares of Wintrust Financial from $184.00 to $183.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Wintrust Financial in a research report on Monday, June 29th. Truist Financial lifted their price target on shares of Wintrust Financial from $170.00 to $183.00 and gave the company a "buy" rating in a report on Friday, July 10th. Finally, Raymond James Financial initiated coverage on shares of Wintrust Financial in a research report on Tuesday, July 7th. They issued an "outperform" rating and a $180.00 price target on the stock. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $177.77.
Check Out Our Latest Analysis on Wintrust Financial
Wintrust Financial Profile
(
Free Report)
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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