Harbor Capital Advisors Inc. Boosts Stock Holdings in Wintrust Financial Corporation $WTFC

Key Points

• Harbor Capital Advisors Inc. increased its holdings in Wintrust Financial Corporation by 6.8%, now owning approximately $11.89 million worth of shares as of the recent SEC filing.
• Wintrust Financial reported earnings per share of $2.78 for the last quarter, surpassing analysts' expectations of $2.59 and showing a significant year-over-year increase from $2.32 EPS.
• The company recently announced a quarterly dividend of $0.50, reflecting an annualized yield of 1.5% and a payout ratio of 18.92%.

Harbor Capital Advisors Inc. grew its holdings in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 6.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,903 shares of the bank's stock after buying an additional 6,088 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.14% of Wintrust Financial worth $11,890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Millennium Management LLC raised its holdings in Wintrust Financial by 539.2% during the first quarter. Millennium Management LLC now owns 594,711 shares of the bank's stock worth $66,881,000 after purchasing an additional 501,669 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Wintrust Financial during the 1st quarter valued at about $47,769,000. Jennison Associates LLC boosted its stake in Wintrust Financial by 53.3% in the 1st quarter. Jennison Associates LLC now owns 807,390 shares of the bank's stock valued at $90,799,000 after buying an additional 280,568 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Wintrust Financial by 21,245.9% during the first 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 period. Finally, Northern Trust Corp lifted its holdings in Wintrust Financial by 20.2% during the 1st quarter. Northern Trust Corp now owns 852,583 shares of the bank's stock worth $95,881,000 after purchasing an additional 143,401 shares during the last quarter. Institutional investors own 93.48% of the company's stock.

Insiders Place Their Bets

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

Wintrust Financial Trading Down 1.2%

NASDAQ WTFC traded down $1.66 on Friday, hitting $135.08. The company's stock had a trading volume of 879,986 shares, compared to its average volume of 387,426. The company's 50-day simple moving average is $132.13 and its 200 day simple moving average is $121.22. The firm has a market cap of $9.04 billion, a P/E ratio of 12.78 and a beta of 0.87. Wintrust Financial Corporation has a 52-week low of $89.10 and a 52-week high of $142.04. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The bank reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.19. The company had revenue of $670.78 million during the quarter, compared to analyst estimates of $661.43 million. Wintrust Financial had a return on equity of 12.08% and a net margin of 18.06%.During the same period in the prior year, the company earned $2.32 earnings per share. Research analysts predict that Wintrust Financial Corporation will post 10.36 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, August 7th. Wintrust Financial's payout ratio is presently 18.92%.

Analysts Set New Price Targets

WTFC has been the topic of several research analyst reports. DA Davidson upped their price objective on Wintrust Financial from $135.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Wintrust Financial from $130.00 to $138.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. Piper Sandler restated an "overweight" rating and issued a $160.00 price objective (up from $141.00) on shares of Wintrust Financial in a report on Wednesday, July 23rd. Raymond James Financial restated a "strong-buy" rating and issued a $157.00 target price (up previously from $155.00) on shares of Wintrust Financial in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada lifted their price target on shares of Wintrust Financial from $137.00 to $158.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $147.31.

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.