First Citizens Bank & Trust Co. Purchases 7,046 Shares of Wintrust Financial Corporation $WTFC

Key Points

• First Citizens Bank & Trust Co. acquired 7,046 Wintrust Financial shares in the third quarter, valued at approximately $999,000. Institutional investors collectively own 93.48% of WTFC’s outstanding stock.
• Analysts maintain a generally positive outlook, with 10 Buy ratings and five Holds; the stock has a consensus rating of “Moderate Buy” and a $176.20 average price target.
• Wintrust reported quarterly earnings of $3.30 per share, exceeding estimates, while revenue rose 10.1% year over year to $738.63 million. The company also pays a quarterly dividend of $0.55 per share, yielding approximately 1.5%.

First Citizens Bank & Trust Co. purchased a new stake in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,046 shares of the bank's stock, valued at approximately $999,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Wintrust Financial in the 2nd quarter worth $1,058,088,000. First Trust Advisors LP lifted its position in shares of Wintrust Financial by 26.6% in the 1st quarter. First Trust Advisors LP now owns 1,830,268 shares of the bank's stock worth $254,297,000 after purchasing an additional 385,069 shares during the period. Bank of America Corp DE bought a new stake in shares of Wintrust Financial during the 2nd quarter valued at about $168,021,000. Jupiter Topco LLC bought a new stake in shares of Wintrust Financial during the 2nd quarter valued at about $92,734,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Wintrust Financial during the 2nd quarter valued at about $92,391,000. 93.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WTFC has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Wintrust Financial in a research report on Monday. They set a "buy" rating and a $175.00 price target on the stock. Truist Financial raised their price objective on shares of Wintrust Financial from $170.00 to $183.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Piper Sandler raised their price objective on shares of Wintrust Financial from $186.00 to $195.00 and gave the stock an "overweight" rating in a report on Monday, October 5th. Barclays cut their price objective on Wintrust Financial from $192.00 to $190.00 and set an "overweight" rating on the stock in a research report on Monday, October 5th. Finally, TD Cowen cut their price objective on Wintrust Financial from $183.00 to $173.00 and set a "buy" rating on the stock in a research report on Monday, October 5th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Wintrust Financial has a consensus rating of "Moderate Buy" and a consensus target price of $176.20.

Wintrust Financial Price Performance

WTFC opened at $143.54 on Friday. The stock has a fifty day simple moving average of $150.19 and a two-hundred day simple moving average of $152.15. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 11.53 and a beta of 0.89. Wintrust Financial Corporation has a 12-month low of $119.61 and a 12-month high of $167.21.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its quarterly earnings data on Monday, July 20th. The bank reported $3.30 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $735.36 million. During the same quarter last year, the firm posted $2.78 earnings per share. The company's revenue for the quarter was up 10.1% on a year-over-year basis. Research analysts predict that Wintrust Financial Corporation will post 13.16 earnings per share for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Thursday, August 6th. Wintrust Financial's dividend payout ratio (DPR) is presently 17.67%.

Insider Activity

In related news, COO David Dykstra sold 13,515 shares of Wintrust Financial stock in a transaction dated Thursday, August 13th. The shares were 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 of the company's stock, valued at $27,092,903.73. This trade represents a 7.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.24% of the stock is currently owned by insiders.

Wintrust Financial Company Profile

Wintrust Financial Corporation NASDAQ: WTFC is a financial holding company headquartered in Rosemont, Illinois. Founded in 1991, the company operates a network of community banks serving individuals, families and businesses primarily in the Chicago metropolitan area, southern Wisconsin and northwest Indiana.

Wintrust's banking subsidiaries provide deposit accounts, commercial and consumer lending, residential mortgages, treasury management, trust and investment services, and other traditional banking products.

Want to see what other hedge funds are holding WTFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wintrust Financial Corporation (NASDAQ:WTFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.