California State Teachers Retirement System Raises Holdings in Wintrust Financial Corporation $WTFC

Key Points

• California State Teachers Retirement System dramatically increased its Wintrust Financial stake by 15,788.5% in the second quarter, acquiring 12.43 million additional shares. It now owns approximately 18.54% of WTFC, valued at about $2.01 billion.
• Wintrust reported strong quarterly results, with earnings of $3.30 per share versus the $3.15 consensus estimate and revenue of $738.63 million, up 10.1% year over year. The company also declared a quarterly dividend of $0.55 per share, representing a 1.4% yield.
• Analyst sentiment remains positive, with nine Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $177.77. WTFC recently traded at $152.16, while COO David Dykstra sold 13,515 shares at an average price of $162.77.

California State Teachers Retirement System raised its stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 15,788.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,508,355 shares of the bank's stock after purchasing an additional 12,429,629 shares during the quarter. California State Teachers Retirement System owned about 18.54% of Wintrust Financial worth $2,010,343,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of WTFC. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Wintrust Financial in the 2nd quarter valued at about $27,000. Advisors Asset Management Inc. purchased a new stake in shares of Wintrust Financial during the first quarter worth about $27,000. Elyxium Wealth LLC acquired a new position in shares of Wintrust Financial during the fourth quarter valued at approximately $31,000. Creative Financial Designs Inc. ADV lifted its holdings in Wintrust Financial by 231.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank's stock valued at $32,000 after purchasing an additional 160 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Wintrust Financial by 72.7% in the fourth quarter. Harbour Investments Inc. now owns 240 shares of the bank's stock worth $34,000 after buying an additional 101 shares in the last quarter. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

Wintrust Financial Trading Up 0.9%

Shares of WTFC opened at $152.16 on Friday. Wintrust Financial Corporation has a 1-year low of $119.61 and a 1-year high of $167.21. The firm has a 50 day simple moving average of $157.84 and a 200-day simple moving average of $150.99. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 12.22 and a beta of 0.84. 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 quarterly earnings results on Monday, July 20th. The bank reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.15. Wintrust Financial had a return on equity of 13.37% and a net margin of 20.72%.The company had revenue of $738.63 million during the quarter, compared to the consensus estimate of $735.36 million. During the same period in the previous year, the firm posted $2.78 EPS. Wintrust Financial's revenue was up 10.1% on a year-over-year basis. Equities analysts forecast that Wintrust Financial Corporation will post 13.04 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.55 per share. The ex-dividend date 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 other Wintrust Financial news, COO David Dykstra sold 13,515 shares of Wintrust Financial 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 transaction, the chief operating officer directly owned 166,449 shares of the company's stock, valued at $27,092,903.73. The trade was a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.24% of the company's stock.

Analyst Upgrades and Downgrades

WTFC has been the subject of several analyst reports. DA Davidson upped their target price on Wintrust Financial from $185.00 to $190.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Capital One Financial set a $170.00 price target on Wintrust Financial in a research note on Tuesday, July 21st. Truist Financial raised their price objective on shares of Wintrust Financial from $170.00 to $183.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Brean Capital cut Wintrust Financial from a "buy" rating to a "neutral" rating and set a $170.00 price objective for the company. in a research note on Tuesday, July 21st. Finally, Piper Sandler set a $186.00 price objective on shares of Wintrust Financial in a research report on Wednesday, July 22nd. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $177.77.

About Wintrust Financial

Wintrust Financial Corporation NASDAQ: WTFC is a financial services company and bank holding company headquartered in Rosemont, Illinois. Founded in 1991, the company operates a network of community banks that serve individuals, families, businesses and institutions.

Wintrust's banking operations provide deposit accounts, commercial and consumer lending, mortgage financing, treasury management, payment services and other traditional banking products. Through specialized subsidiaries and affiliated businesses, the company also offers wealth management, investment services, insurance premium financing, equipment leasing and related financial solutions.

The company primarily serves communities in the greater Chicago metropolitan area and has expanded its banking presence into surrounding Midwestern markets, including parts of Wisconsin and Indiana.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.