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 cut its stake in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 11.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 704,992 shares of the bank's stock after selling 92,278 shares during the period. Wintrust Financial makes up approximately 2.4% of Channing Capital Management LLC's holdings, making the stock its 6th largest holding. Channing Capital Management LLC owned about 1.05% of Wintrust Financial worth $79,283,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Park Place Capital Corp grew its position in shares of Wintrust Financial by 1,264.7% in the first quarter. Park Place Capital Corp now owns 232 shares of the bank's stock valued at $26,000 after purchasing an additional 215 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Wintrust Financial in the first quarter valued at approximately $36,000. Opal Wealth Advisors LLC acquired a new stake in shares of Wintrust Financial in the first quarter valued at approximately $38,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Wintrust Financial in the first quarter valued at approximately $53,000. Finally, Parallel Advisors LLC grew its position in shares of Wintrust Financial by 33.9% in the first quarter. Parallel Advisors LLC now owns 593 shares of the bank's stock valued at $67,000 after purchasing an additional 150 shares during the last quarter. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Wintrust Financial Trading Up 1.7%

NASDAQ WTFC traded up $2.30 during mid-day trading on Tuesday, reaching $136.31. 141,110 shares of the stock were exchanged, compared to its average volume of 437,663. The stock has a market capitalization of $9.13 billion, a PE ratio of 12.86 and a beta of 0.85. The business's fifty day simple moving average is $128.11 and its 200 day simple moving average is $119.79. Wintrust Financial Corporation has a 1-year low of $89.10 and a 1-year high of $142.04. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The bank reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.19. The company had revenue of $670.78 million for the quarter, compared to analyst estimates of $661.43 million. Wintrust Financial had a net margin of 18.06% and a return on equity of 12.08%. During the same quarter last year, the business earned $2.32 EPS. On average, research analysts anticipate that Wintrust Financial Corporation will post 10.36 earnings per share for the current fiscal year.

Wintrust Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, August 7th. Wintrust Financial's dividend payout ratio (DPR) is 18.92%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WTFC. Royal Bank Of Canada increased their price target on shares of Wintrust Financial from $137.00 to $158.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. DA Davidson increased their price target on shares of Wintrust Financial from $135.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Raymond James Financial restated a "strong-buy" rating and set a $157.00 target price (up previously from $155.00) on shares of Wintrust Financial in a research report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Wintrust Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Piper Sandler restated an "overweight" rating and set a $160.00 target price (up previously from $141.00) on shares of Wintrust Financial in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $145.77.

Insiders Place Their Bets

In other Wintrust Financial news, COO David A. Dykstra sold 14,942 shares of Wintrust Financial stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $131.53, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Wehmer purchased 3,919 shares of the firm's stock in a transaction on Friday, July 25th. The stock was bought at an average price of $26.35 per share, for a total transaction of $103,265.65. Following the acquisition, the insider owned 3,919 shares in the company, valued at $103,265.65. The trade was 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 company insiders.

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.