Louisiana State Employees Retirement System Acquires Shares of 19,400 Wintrust Financial Corporation $WTFC

Key Points

• Louisiana State Employees Retirement System initiated a new position in Wintrust Financial, buying 19,400 shares worth about $2.7 million in the first quarter.
• Several insiders sold stock recently, including COO David A. Dykstra and CFO David L. Stoehr, with total insider sales over the last 90 days amounting to $1.95 million.
• Wintrust Financial reported strong quarterly results, posting EPS of $3.22 versus the $2.96 estimate and revenue of $713.17 million, while analysts maintain a Moderate Buy consensus with an average target price of $168.92.

Louisiana State Employees Retirement System bought a new stake in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 19,400 shares of the bank's stock, valued at approximately $2,695,000.

Several other hedge funds have also made changes to their positions in WTFC. Advisors Asset Management Inc. acquired a new position in Wintrust Financial in the 1st quarter valued at about $27,000. Elyxium Wealth LLC acquired a new stake in Wintrust Financial during the 4th quarter worth approximately $31,000. Creative Financial Designs Inc. ADV lifted its position in Wintrust Financial by 231.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank's stock worth $32,000 after acquiring an additional 160 shares during the period. Harbour Investments Inc. grew its stake in shares of Wintrust Financial by 72.7% in the 4th quarter. Harbour Investments Inc. now owns 240 shares of the bank's stock valued at $34,000 after purchasing an additional 101 shares during the last quarter. Finally, Strive Financial Group LLC purchased a new position in shares of Wintrust Financial in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 93.48% of the company's stock.

Insider Transactions at Wintrust Financial

In related news, COO David A. Dykstra sold 9,579 shares of the firm's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $148.82, for a total value of $1,425,546.78. Following the completion of the sale, the chief operating officer owned 179,810 shares in the company, valued at $26,759,324.20. This trade represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David L. Stoehr sold 3,020 shares of the business's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $150.45, for a total transaction of $454,359.00. Following the sale, the chief financial officer directly owned 13,213 shares in the company, valued at approximately $1,987,895.85. This represents a 18.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,099 shares of company stock valued at $1,954,386 in the last ninety days. 1.24% of the stock is currently owned by company insiders.

Wintrust Financial Price Performance

WTFC opened at $161.31 on Monday. 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 Corporation has a 12 month low of $119.61 and a 12 month high of $163.36. The stock has a market capitalization of $10.88 billion, a P/E ratio of 13.52 and a beta of 0.85. The business has a 50 day simple moving average of $151.50 and a 200-day simple moving average of $146.77.

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

Wintrust Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WTFC shares. Piper Sandler restated an "overweight" rating and set a $188.00 price target (up from $184.00) on shares of Wintrust Financial in a research note on Wednesday, April 22nd. Royal Bank Of Canada lifted their price objective on shares of Wintrust Financial from $175.00 to $185.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Citigroup upped their price objective on shares of Wintrust Financial from $178.00 to $182.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. TD Cowen raised their target price on shares of Wintrust Financial from $173.00 to $176.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Finally, Stephens started coverage on shares of Wintrust Financial in a report on Friday, March 27th. They issued an "equal weight" rating and a $160.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $168.92.

Wintrust Financial 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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