Fifth Third Bancorp Boosts Stock Position in Wintrust Financial Corporation $WTFC

Key Points

• Fifth Third Bancorp increased its stake in Wintrust Financial by 150.3% in the first quarter, ending with 54,210 shares valued at about $7.53 million.
• Wintrust Financial reported strong quarterly results, with EPS of $3.22 beating estimates and revenue of $713.17 million topping expectations; revenue rose 10.9% year over year.
• Analysts remain upbeat on WTFC, with 10 Buy ratings and a consensus Moderate Buy rating; the average price target is $174.92, above the stock’s recent trading level.

Fifth Third Bancorp lifted its stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 150.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,210 shares of the bank's stock after acquiring an additional 32,555 shares during the quarter. Fifth Third Bancorp owned approximately 0.08% of Wintrust Financial worth $7,532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WTFC. Polar Asset Management Partners Inc. bought a new stake in Wintrust Financial during the third quarter valued at about $14,094,000. F m Investments LLC boosted its stake in shares of Wintrust Financial by 61.6% in the fourth quarter. F m Investments LLC now owns 70,857 shares of the bank's stock worth $9,907,000 after acquiring an additional 27,013 shares during the period. Artemis Investment Management LLP bought a new position in shares of Wintrust Financial in the fourth quarter worth about $59,287,000. Westfield Capital Management Co. LP grew its position in shares of Wintrust Financial by 22.5% during the fourth quarter. Westfield Capital Management Co. LP now owns 559,762 shares of the bank's stock worth $78,266,000 after purchasing an additional 102,798 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Wintrust Financial by 132.1% during the fourth quarter. SG Americas Securities LLC now owns 51,637 shares of the bank's stock worth $7,220,000 after purchasing an additional 29,386 shares in the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

Wintrust Financial Trading Up 0.2%

Shares of WTFC stock opened at $162.62 on Thursday. The company has a market cap of $10.97 billion, a PE ratio of 13.63 and a beta of 0.84. Wintrust Financial Corporation has a 1 year low of $119.61 and a 1 year high of $164.07. The stock's 50 day simple moving average is $154.65 and its two-hundred day simple moving average is $148.58. 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 announced its earnings results on Monday, April 20th. The bank reported $3.22 EPS for the quarter, topping analysts' consensus estimates of $2.96 by $0.26. The firm had revenue of $713.17 million during the quarter, compared to analysts' expectations of $707.23 million. Wintrust Financial had a return on equity of 13.15% and a net margin of 20.11%.The company's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.69 EPS. Research analysts predict that Wintrust Financial Corporation will post 13.03 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Suzet M. Mckinney sold 500 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $148.96, for a total value of $74,480.00. Following the sale, the director owned 3,303 shares of the company's stock, valued at approximately $492,014.88. This represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David L. Stoehr sold 3,020 shares of the firm's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $150.45, for a total transaction of $454,359.00. Following the completion of the sale, the chief financial officer owned 13,213 shares of the company's stock, valued at $1,987,895.85. This trade represents a 18.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,099 shares of company stock worth $1,954,386 over the last three months. 1.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WTFC shares. Piper Sandler reissued an "overweight" rating and set a $188.00 target price (up from $184.00) on shares of Wintrust Financial in a research note on Wednesday, April 22nd. Truist Financial upped their price target on Wintrust Financial from $170.00 to $183.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Royal Bank Of Canada increased their price objective on shares of Wintrust Financial from $175.00 to $185.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. TD Cowen lifted their price objective on shares of Wintrust Financial from $173.00 to $176.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Finally, Citigroup boosted their target price on shares of Wintrust Financial from $178.00 to $182.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Wintrust Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.92.

Wintrust Financial 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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