Fulton Bank N.A. Acquires New Position in Wintrust Financial Co. (NASDAQ:WTFC)

Fulton Bank N.A. bought a new stake in shares of Wintrust Financial Co. (NASDAQ:WTFC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,318 shares of the bank's stock, valued at approximately $261,000.

A number of other hedge funds have also recently modified their holdings of WTFC. Merit Financial Group LLC raised its position in shares of Wintrust Financial by 8.9% in the 1st quarter. Merit Financial Group LLC now owns 2,295 shares of the bank's stock worth $258,000 after purchasing an additional 187 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Wintrust Financial by 33.9% in the 1st quarter. Parallel Advisors LLC now owns 593 shares of the bank's stock worth $67,000 after purchasing an additional 150 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Wintrust Financial by 21,245.9% in the 1st quarter. GAMMA Investing LLC now owns 268,105 shares of the bank's stock worth $30,151,000 after purchasing an additional 266,849 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Wintrust Financial in the 4th quarter worth about $516,000. Finally, GTS Securities LLC purchased a new position in shares of Wintrust Financial in the 4th quarter worth about $334,000. Institutional investors own 93.48% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WTFC. Royal Bank of Canada lowered their price target on Wintrust Financial from $152.00 to $135.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. DA Davidson decreased their target price on Wintrust Financial from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen raised Wintrust Financial from a "sell" rating to a "hold" rating in a research report on Tuesday, April 29th. Truist Financial decreased their target price on Wintrust Financial from $150.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Stephens decreased their target price on Wintrust Financial from $145.00 to $132.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Wintrust Financial currently has an average rating of "Moderate Buy" and an average target price of $135.77.

Wintrust Financial Stock Performance

Shares of NASDAQ WTFC traded up $2.83 during midday trading on Friday, hitting $121.72. 263,812 shares of the company's stock traded hands, compared to its average volume of 428,477. Wintrust Financial Co. has a 1 year low of $89.10 and a 1 year high of $142.04. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 11.81 and a beta of 0.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.01. The firm has a fifty day moving average of $112.04 and a 200 day moving average of $121.37.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The bank reported $2.69 EPS for the quarter, beating the consensus estimate of $2.52 by $0.17. Wintrust Financial had a net margin of 17.52% and a return on equity of 12.60%. The firm had revenue of $643.11 million during the quarter, compared to analyst estimates of $643.11 million. During the same quarter in the prior year, the firm earned $2.89 EPS. On average, analysts forecast that Wintrust Financial Co. will post 10.36 earnings per share for the current year.

Wintrust Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Thursday, May 8th. Wintrust Financial's payout ratio is currently 19.78%.

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.