Hsbc Holdings PLC Takes Position in Wintrust Financial Corporation $WTFC

Key Points

• HSBC Holdings PLC opened a new position in Wintrust Financial during the fourth quarter, buying 11,198 shares worth about $1.57 million.
• Institutional ownership remains very high, with hedge funds and other investors holding about 93.48% of Wintrust Financial shares. Several large investors also increased their stakes in recent quarters.
• Wintrust Financial reported strong quarterly earnings, posting EPS of $3.22 versus the $2.96 consensus and revenue of $713.17 million, while analysts have mostly maintained Buy/Overweight ratings with a consensus target price of $170.58.

Hsbc Holdings PLC acquired a new position in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 11,198 shares of the bank's stock, valued at approximately $1,570,000.

Other large investors have also made changes to their positions in the company. First Trust Advisors LP raised its holdings in shares of Wintrust Financial by 5.4% in the 3rd quarter. First Trust Advisors LP now owns 1,992,906 shares of the bank's stock worth $263,940,000 after purchasing an additional 102,833 shares during the period. Earnest Partners LLC raised its holdings in Wintrust Financial by 0.6% in the third quarter. Earnest Partners LLC now owns 1,442,018 shares of the bank's stock valued at $190,981,000 after buying an additional 8,048 shares during the period. Geode Capital Management LLC raised its holdings in Wintrust Financial by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,273,042 shares of the bank's stock valued at $178,038,000 after buying an additional 16,997 shares during the period. Bank of America Corp DE lifted its position in Wintrust Financial by 1.4% during the third quarter. Bank of America Corp DE now owns 1,071,763 shares of the bank's stock valued at $141,944,000 after buying an additional 15,044 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Wintrust Financial by 22.2% during the fourth quarter. Wellington Management Group LLP now owns 832,352 shares of the bank's stock valued at $116,379,000 after buying an additional 151,385 shares in the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WTFC has been the subject of several recent research reports. Barclays increased their price objective on shares of Wintrust Financial from $185.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. DA Davidson restated a "buy" rating and set a $185.00 target price on shares of Wintrust Financial in a report on Tuesday. Citigroup increased their price target on Wintrust Financial from $178.00 to $182.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Royal Bank Of Canada boosted their price objective on Wintrust Financial from $175.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $188.00 target price (up from $184.00) on shares of Wintrust Financial in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Wintrust Financial has an average rating of "Moderate Buy" and a consensus target price of $170.58.

Wintrust Financial Stock Performance

NASDAQ:WTFC opened at $160.72 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.98 and a quick ratio of 0.97. The firm has a 50-day moving average of $152.05 and a two-hundred day moving average of $147.08. The stock has a market cap of $10.84 billion, a P/E ratio of 13.47 and a beta of 0.84. Wintrust Financial Corporation has a 1-year low of $119.61 and a 1-year high of $163.36.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its earnings results on Monday, April 20th. The bank reported $3.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.96 by $0.26. Wintrust Financial had a return on equity of 13.15% and a net margin of 20.11%.The business had revenue of $713.17 million for the quarter, compared to analyst estimates of $707.23 million. During the same period in the previous year, the company earned $2.69 earnings per share. The company's revenue for the quarter was up 10.9% compared to the same quarter last year. On average, research analysts expect that Wintrust Financial Corporation will post 13.09 earnings per share for the current fiscal year.

Wintrust Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Thursday, May 14th. Wintrust Financial's dividend payout ratio (DPR) is 18.44%.

Insiders Place Their Bets

In other Wintrust Financial news, COO David A. Dykstra sold 9,579 shares of Wintrust Financial stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $148.82, for a total transaction of $1,425,546.78. Following the sale, the chief operating officer directly owned 179,810 shares in the company, valued at $26,759,324.20. The trade was a 5.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Suzet M. Mckinney sold 500 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 3,303 shares in the company, valued at approximately $492,014.88. The trade was a 13.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,099 shares of company stock worth $1,954,386 in the last three months. 1.24% of the stock is owned by insiders.

About Wintrust Financial

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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