Hsbc Holdings PLC Takes Position in Wintrust Financial Corporation $WTFC

Key Points

• HSBC Holdings initiated a position in Wintrust Financial, buying 59,830 shares worth approximately $9.6 million, while institutional investors collectively own 93.48% of the stock.
• Analysts maintain a generally positive outlook, with nine Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $177.77.
• Wintrust exceeded quarterly earnings expectations, reporting $3.30 EPS and $738.63 million in revenue, up 10.1% year over year; it also pays a quarterly dividend of $0.55, yielding about 1.5%.

Hsbc Holdings PLC purchased a new position in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 59,830 shares of the bank's stock, valued at approximately $9,637,000. Hsbc Holdings PLC owned 0.09% of Wintrust Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of WTFC. Deutsche Bank AG bought a new stake in Wintrust Financial during the second quarter worth $8,320,000. Simplicity Wealth LLC bought a new position in shares of Wintrust Financial in the 2nd quarter valued at $866,000. GSA Capital Partners LLP acquired a new position in shares of Wintrust Financial during the 2nd quarter worth $1,437,000. Advisors Capital Management LLC acquired a new position in shares of Wintrust Financial during the 2nd quarter worth $3,320,000. Finally, Westfield Capital Management Co. LP lifted its position in shares of Wintrust Financial by 22.5% during the 4th quarter. Westfield Capital Management Co. LP now owns 559,762 shares of the bank's stock worth $78,266,000 after buying an additional 102,798 shares during the last quarter. Institutional investors own 93.48% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on WTFC shares. TD Cowen decreased their target price on Wintrust Financial from $184.00 to $183.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Brean Capital downgraded shares of Wintrust Financial from a "buy" rating to a "neutral" rating and set a $170.00 price target on the stock. in a research note on Tuesday, July 21st. UBS Group reaffirmed a "neutral" rating and set a $170.00 price target on shares of Wintrust Financial in a report on Tuesday, July 7th. Barclays increased their price objective on shares of Wintrust Financial from $190.00 to $192.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Finally, Raymond James Financial initiated coverage on shares of Wintrust Financial in a research report on Tuesday, July 7th. They issued an "outperform" rating and a $180.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Wintrust Financial currently has an average rating of "Moderate Buy" and an average target price of $177.77.

Wintrust Financial Stock Down 1.2%

Shares of NASDAQ WTFC opened at $150.55 on Thursday. The company has a 50 day simple moving average of $158.23 and a 200 day simple moving average of $151.02. The firm has a market cap of $10.16 billion, a PE ratio of 12.09 and a beta of 0.84. Wintrust Financial Corporation has a 1 year low of $119.61 and a 1 year high of $167.21. 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 posted its earnings results on Monday, July 20th. The bank reported $3.30 earnings per share for the quarter, topping analysts' consensus estimates of $3.15 by $0.15. Wintrust Financial had a net margin of 20.72% and a return on equity of 13.37%. The firm had revenue of $738.63 million for the quarter, compared to analyst estimates of $735.36 million. During the same period in the previous year, the firm posted $2.78 EPS. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts forecast that Wintrust Financial Corporation will post 13.04 EPS for the current year.

Wintrust Financial Announces Dividend

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

Insiders Place Their Bets

In related news, COO David Dykstra sold 13,515 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.24% of the stock is owned by insiders.

Wintrust Financial Company 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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