Channing Capital Management LLC Sells 92,278 Shares of Wintrust Financial Corporation $WTFC

Key Points

• Channing Capital Management LLC reduced its stake in Wintrust Financial Corporation by 11.6%, now holding 704,992 shares valued at approximately $79.28 million.
• Institutional investors collectively own 93.48% of Wintrust Financial's stock, indicating strong support from large investment firms.
• Wintrust Financial recently reported earnings of $2.78 per share, surpassing analysts' expectations, and announced a quarterly dividend of $0.50 per share, representing a 1.6% dividend yield.

Channing Capital Management LLC lessened its stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 704,992 shares of the bank's stock after selling 92,278 shares during the period. Wintrust Financial comprises 2.4% of Channing Capital Management LLC's investment portfolio, making the stock its 6th largest holding. Channing Capital Management LLC owned about 1.05% of Wintrust Financial worth $79,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of WTFC. CHICAGO TRUST Co NA raised its position in shares of Wintrust Financial by 0.5% during the first quarter. CHICAGO TRUST Co NA now owns 19,896 shares of the bank's stock worth $2,238,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Wintrust Financial by 0.5% during the first quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the bank's stock worth $2,092,000 after acquiring an additional 100 shares during the last quarter. Securian Asset Management Inc. raised its position in shares of Wintrust Financial by 2.0% during the first quarter. Securian Asset Management Inc. now owns 5,098 shares of the bank's stock worth $573,000 after acquiring an additional 100 shares during the last quarter. Blair William & Co. IL raised its position in shares of Wintrust Financial by 0.6% during the first quarter. Blair William & Co. IL now owns 19,055 shares of the bank's stock worth $2,143,000 after acquiring an additional 109 shares during the last quarter. Finally, Xponance Inc. raised its position in shares of Wintrust Financial by 1.6% during the first quarter. Xponance Inc. now owns 7,646 shares of the bank's stock worth $860,000 after acquiring an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 93.48% of the company's stock.

Insider Activity at Wintrust Financial

In other Wintrust Financial news, COO David A. Dykstra sold 14,942 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $131.53, for a total transaction of $1,965,321.26. Following the transaction, the chief operating officer owned 182,208 shares in the company, valued at $23,965,818.24. This trade represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward J. Wehmer acquired 3,919 shares of the stock in a transaction on Friday, July 25th. The shares were bought at an average price of $26.35 per share, for a total transaction of $103,265.65. Following the purchase, the insider owned 3,919 shares in the company, valued at approximately $103,265.65. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.01% of the stock is owned by corporate insiders.

Wintrust Financial Stock Up 4.1%

Shares of WTFC stock traded up $5.31 on Friday, hitting $134.02. 489,618 shares of the stock were exchanged, compared to its average volume of 364,002. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $8.97 billion, a P/E ratio of 12.68 and a beta of 0.85. The business has a 50-day moving average of $127.79 and a 200 day moving average of $119.84. Wintrust Financial Corporation has a fifty-two week low of $89.10 and a fifty-two week high of $142.04.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The bank reported $2.78 EPS for the quarter, beating the consensus estimate of $2.59 by $0.19. Wintrust Financial had a return on equity of 12.08% and a net margin of 18.06%.The firm had revenue of $670.78 million during the quarter, compared to analysts' expectations of $661.43 million. During the same period in the prior year, the firm posted $2.32 earnings per share. Equities analysts anticipate that Wintrust Financial Corporation will post 10.36 EPS for the current year.

Wintrust Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a $0.50 dividend. The ex-dividend date was Thursday, August 7th. This represents a $2.00 annualized dividend and a yield of 1.5%. Wintrust Financial's dividend payout ratio is currently 18.92%.

Analysts Set New Price Targets

A number of research firms recently commented on WTFC. Royal Bank Of Canada upped their price objective on Wintrust Financial from $137.00 to $158.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods upped their price objective on Wintrust Financial from $130.00 to $138.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. Barclays reissued an "overweight" rating and issued a $162.00 target price (up from $145.00) on shares of Wintrust Financial in a research note on Tuesday, July 8th. DA Davidson boosted their target price on Wintrust Financial from $135.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Jefferies Financial Group set a $145.00 target price on Wintrust Financial and gave the company a "buy" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $145.77.

Wintrust Financial Company Profile

Wintrust Financial Corporation operates as a financial holding company. It operates in three segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment offers non-interest bearing deposits, non-brokered interest-bearing transaction accounts, and savings and domestic time deposits; home equity, consumer, and real estate loans; safe deposit facilities; and automatic teller machine (ATM), online and mobile banking, and other services.