EFG Asset Management North America Corp. Buys New Stake in Wintrust Financial Corporation $WTFC

Key Points

• EFG Asset Management North America Corp. invested $1.86 million in Wintrust Financial Corporation by acquiring 16,542 shares in the 1st quarter.
• Wintrust Financial's recent earnings report revealed an EPS of $2.78, exceeding analysts' projections, along with a revenue of $670.78 million for the quarter.
• The company declared a quarterly dividend of $0.50 per share, representing a 1.4% dividend yield and a payout ratio of 18.92%.

EFG Asset Management North America Corp. acquired a new position in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,542 shares of the bank's stock, valued at approximately $1,860,000.

Several other hedge funds and other institutional investors have also modified their holdings of WTFC. Bank of America Corp DE boosted its position in shares of Wintrust Financial by 55.6% during the fourth quarter. Bank of America Corp DE now owns 897,932 shares of the bank's stock worth $111,981,000 after buying an additional 320,954 shares during the period. Brevan Howard Capital Management LP purchased a new position in shares of Wintrust Financial during the fourth quarter worth $1,076,000. Cetera Investment Advisers boosted its position in shares of Wintrust Financial by 15.6% during the fourth quarter. Cetera Investment Advisers now owns 15,790 shares of the bank's stock worth $1,969,000 after buying an additional 2,132 shares during the period. Deutsche Bank AG boosted its position in shares of Wintrust Financial by 3.0% during the fourth quarter. Deutsche Bank AG now owns 9,319 shares of the bank's stock worth $1,162,000 after buying an additional 273 shares during the period. Finally, Clark Capital Management Group Inc. raised its stake in shares of Wintrust Financial by 33.7% in the fourth quarter. Clark Capital Management Group Inc. now owns 63,172 shares of the bank's stock valued at $7,878,000 after acquiring an additional 15,930 shares in the last quarter. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

Wintrust Financial Stock Performance

WTFC traded down $0.80 during trading on Monday, hitting $138.73. 281,542 shares of the stock were exchanged, compared to its average volume of 364,089. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. Wintrust Financial Corporation has a 1-year low of $89.10 and a 1-year high of $142.04. The stock has a fifty day moving average price of $131.41 and a two-hundred day moving average price of $120.37. The firm has a market capitalization of $9.29 billion, a P/E ratio of 13.12 and a beta of 0.87.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The bank reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $661.43 million. During the same quarter last year, the company posted $2.32 earnings per share. As a group, sell-side analysts predict that Wintrust Financial Corporation will post 10.36 earnings per share 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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, August 7th. Wintrust Financial's payout ratio is currently 18.92%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WTFC. Piper Sandler reiterated an "overweight" rating and issued a $160.00 price objective (up from $141.00) on shares of Wintrust Financial in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Wintrust Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Royal Bank Of Canada raised their price target on Wintrust Financial from $137.00 to $158.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Jefferies Financial Group raised their price target on Wintrust Financial from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Finally, DA Davidson raised their price target on Wintrust Financial from $135.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.31.

Wintrust Financial 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.