Corient Private Wealth LP Makes New Investment in Wintrust Financial Corporation $WTFC

Key Points

• Corient Private Wealth LP purchased 57,513 shares of Wintrust Financial worth approximately $9.24 million, while institutional investors collectively own 93.48% of the bank’s outstanding stock.
• Wintrust reported stronger-than-expected quarterly results, with EPS of $3.30 versus the $3.15 consensus estimate and revenue up 10.1% year over year to $738.63 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $177.77, compared with the stock’s reported price of $152.95; the company also pays a quarterly dividend of $0.55 per share.

Corient Private Wealth LP purchased a new stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 57,513 shares of the bank's stock, valued at approximately $9,244,000. Corient Private Wealth LP owned 0.09% of Wintrust Financial as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Wintrust Financial during the 2nd quarter valued at about $1,058,088,000. Bank of America Corp DE acquired a new position in Wintrust Financial in the 2nd quarter worth about $168,021,000. Norges Bank acquired a new position in Wintrust Financial in the 4th quarter worth about $111,924,000. Wellington Management Group LLP purchased a new position in Wintrust Financial during the third quarter worth approximately $90,187,000. Finally, Jupiter Topco LLC purchased a new position in Wintrust Financial during the second quarter worth approximately $92,734,000. Hedge funds and other institutional investors own 93.48% of the company's stock.

Insiders Place Their Bets

In other news, COO David A. Dykstra sold 13,515 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief operating officer directly owned 166,449 shares in the company, valued at $27,092,903.73. This trade represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.24% of the company's stock.

Wintrust Financial Stock Performance

WTFC opened at $152.95 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.98 and a quick ratio of 0.97. The company's 50 day simple moving average is $159.51 and its two-hundred day simple moving average is $151.12. Wintrust Financial Corporation has a 1-year low of $119.61 and a 1-year high of $167.21. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 12.29 and a beta of 0.85.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last posted its quarterly earnings results on Monday, July 20th. The bank reported $3.30 EPS for the quarter, topping 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 business had revenue of $738.63 million for the quarter, compared to analyst estimates of $735.36 million. During the same quarter in the previous year, the firm earned $2.78 EPS. The company's quarterly revenue was up 10.1% compared to the same quarter last year. Analysts expect that Wintrust Financial Corporation will post 13.04 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.4%. Wintrust Financial's dividend payout ratio (DPR) is presently 17.67%.

Wall Street Analysts Forecast Growth

WTFC has been the subject of several recent analyst reports. Citigroup lowered shares of Wintrust Financial from a "buy" rating to a "hold" rating in a report on Tuesday, July 21st. Raymond James Financial initiated coverage on shares of Wintrust Financial in a report on Tuesday, July 7th. They set an "outperform" rating and a $180.00 price objective on the stock. DA Davidson boosted their target price on shares of Wintrust Financial from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Piper Sandler set a $186.00 price target on shares of Wintrust Financial in a research report on Wednesday, July 22nd. Finally, Brean Capital cut Wintrust Financial from a "buy" rating to a "neutral" rating and set a $170.00 price objective on the stock. in a report on Tuesday, July 21st. Nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $177.77.

Wintrust Financial Company Profile

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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