Burney Co. Buys 38,560 Shares of Wintrust Financial Corporation $WTFC

Key Points

• Burney Co. significantly increased its stake in Wintrust Financial, buying 38,560 additional shares in Q1 and lifting its holding to 41,144 shares worth about $5.7 million.
• Wintrust Financial reported strong quarterly results, with EPS of $3.22 beating estimates and revenue of $713.17 million, up 10.9% from a year earlier.
• Analysts remain broadly positive on WTFC, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating and average target price of $170.08.

Burney Co. grew its stake in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 1,492.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,144 shares of the bank's stock after acquiring an additional 38,560 shares during the quarter. Burney Co. owned about 0.06% of Wintrust Financial worth $5,717,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new position in Wintrust Financial in the first quarter valued at about $27,000. Elyxium Wealth LLC purchased a new stake in shares of Wintrust Financial during the fourth quarter valued at about $31,000. Creative Financial Designs Inc. ADV lifted its position in shares of Wintrust Financial by 231.9% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank's stock valued at $32,000 after buying an additional 160 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of Wintrust Financial by 72.7% in the 4th quarter. Harbour Investments Inc. now owns 240 shares of the bank's stock valued at $34,000 after buying an additional 101 shares in the last quarter. Finally, Strive Financial Group LLC purchased a new position in shares of Wintrust Financial in the 4th quarter worth approximately $39,000. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Wintrust Financial

In other Wintrust Financial news, Director Suzet M. Mckinney sold 500 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $148.96, for a total transaction of $74,480.00. Following the sale, the director owned 3,303 shares in the company, valued at approximately $492,014.88. The trade was a 13.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David L. Stoehr sold 3,020 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $150.45, for a total value of $454,359.00. Following the completion of the transaction, the chief financial officer directly owned 13,213 shares in the company, valued at $1,987,895.85. This represents a 18.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,099 shares of company stock valued at $1,954,386 in the last ninety days. Company insiders own 1.24% of the company's stock.

Wintrust Financial Stock Up 1.0%

NASDAQ:WTFC opened at $162.79 on Tuesday. The company has a market cap of $10.98 billion, a PE ratio of 13.65 and a beta of 0.84. Wintrust Financial Corporation has a twelve month low of $119.61 and a twelve month high of $164.00. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. The company's 50 day moving average is $153.06 and its two-hundred day moving average is $147.66.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings results on Monday, April 20th. The bank reported $3.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.96 by $0.26. Wintrust Financial had a net margin of 20.11% and a return on equity of 13.15%. The business had revenue of $713.17 million for the quarter, compared to analyst estimates of $707.23 million. During the same quarter in the prior year, the business posted $2.69 EPS. Wintrust Financial's revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts anticipate that Wintrust Financial Corporation will post 13.09 EPS for the current year.

Analyst Upgrades and Downgrades

WTFC has been the subject of several recent analyst reports. Royal Bank Of Canada boosted their price objective on shares of Wintrust Financial from $175.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Piper Sandler reaffirmed an "overweight" rating and issued a $188.00 price target (up from $184.00) on shares of Wintrust Financial in a report on Wednesday, April 22nd. TD Cowen upped their price target on Wintrust Financial from $173.00 to $176.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Barclays increased their price objective on Wintrust Financial from $185.00 to $190.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Finally, DA Davidson reissued a "buy" rating and issued a $185.00 price objective on shares of Wintrust Financial in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $170.08.

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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