Legal & General Group Plc Purchases Shares of 85,940 Wintrust Financial Corporation $WTFC

Key Points

• Legal & General Group acquired 85,940 Wintrust Financial shares worth approximately $13.8 million, representing a 0.13% stake. Institutional investors collectively own 93.48% of the company.
• Wintrust reported quarterly EPS of $3.30, exceeding estimates of $3.15, while revenue rose 10.1% year over year to $738.63 million. The bank also maintains a quarterly dividend of $0.55 per share, yielding about 1.4% annually.
• Analysts give Wintrust a consensus “Moderate Buy” rating with an average price target of $177.77, compared with shares recently opening at $152.95.

Legal & General Group Plc acquired a new stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 85,940 shares of the bank's stock, valued at approximately $13,812,000. Legal & General Group Plc owned 0.13% of Wintrust Financial at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in Wintrust Financial by 7.7% in the first quarter. Parallel Advisors LLC now owns 976 shares of the bank's stock worth $136,000 after acquiring an additional 70 shares in the last quarter. MeadowBrook Investment Advisors LLC increased its holdings in shares of Wintrust Financial by 3.0% during the first quarter. MeadowBrook Investment Advisors LLC now owns 2,545 shares of the bank's stock valued at $354,000 after acquiring an additional 75 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Wintrust Financial by 0.9% during the fourth quarter. Quadrant Capital Group LLC now owns 8,914 shares of the bank's stock valued at $1,246,000 after acquiring an additional 83 shares in the last quarter. Cresset Asset Management LLC raised its position in shares of Wintrust Financial by 2.4% during the third quarter. Cresset Asset Management LLC now owns 3,730 shares of the bank's stock worth $494,000 after purchasing an additional 88 shares during the period. Finally, Compound Planning Inc. raised its position in shares of Wintrust Financial by 5.3% during the first quarter. Compound Planning Inc. now owns 1,868 shares of the bank's stock worth $260,000 after purchasing an additional 94 shares during the period. Institutional investors own 93.48% of the company's stock.

Wintrust Financial Price Performance

Shares of NASDAQ WTFC opened at $152.95 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $10.32 billion, a PE ratio of 12.29 and a beta of 0.85. The stock's 50 day moving average price is $159.51 and its 200-day moving average price is $151.12. Wintrust Financial Corporation has a twelve month low of $119.61 and a twelve month high of $167.21.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings results on Monday, July 20th. The bank reported $3.30 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $735.36 million. During the same period last year, the company posted $2.78 earnings per share. Wintrust Financial's quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts anticipate that Wintrust Financial Corporation will post 13.04 EPS for the current year.

Wintrust Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Thursday, August 6th. Wintrust Financial's payout ratio is presently 17.67%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WTFC shares. UBS Group reissued a "neutral" rating and issued a $170.00 price target on shares of Wintrust Financial in a research report on Tuesday, July 7th. Citigroup downgraded shares of Wintrust Financial from a "buy" rating to a "hold" rating in a report on Tuesday, July 21st. Truist Financial raised their price objective on shares of Wintrust Financial from $170.00 to $183.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Capital One Financial set a $170.00 price objective on shares of Wintrust Financial in a report on Tuesday, July 21st. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Wintrust Financial in a research report on Monday, June 29th. Nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Wintrust Financial currently has an average rating of "Moderate Buy" and a consensus price target of $177.77.

Insider Activity at Wintrust Financial

In related news, COO David A. Dykstra sold 13,515 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $162.77, for a total value of $2,199,836.55. Following the transaction, the chief operating officer directly owned 166,449 shares of the company's stock, valued at approximately $27,092,903.73. The trade was a 7.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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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