Meeder Asset Management Inc. Has $1.93 Million Stock Position in Wintrust Financial Corporation $WTFC

Key Points

• Meeder Asset Management slashed its Wintrust Financial stake by 91% in the first quarter, leaving it with 13,921 shares worth about $1.93 million.
• Wintrust Financial reported strong quarterly results, posting EPS of $3.30 versus estimates of $3.15 and revenue of $961.4 million versus expectations of $735.4 million.
• Analysts remain generally positive on WTFC, with 10 Buy ratings, 3 Hold ratings, and a consensus Moderate Buy target price of $174.92.

Meeder Asset Management Inc. lowered its position in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 91.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,921 shares of the bank's stock after selling 141,054 shares during the quarter. Meeder Asset Management Inc.'s holdings in Wintrust Financial were worth $1,934,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WTFC. Meeder Advisory Services Inc. acquired a new stake in Wintrust Financial in the first quarter worth about $283,000. Parallel Advisors LLC lifted its position in Wintrust Financial by 7.7% during the 1st quarter. Parallel Advisors LLC now owns 976 shares of the bank's stock valued at $136,000 after purchasing an additional 70 shares during the period. KBC Group NV boosted its stake in shares of Wintrust Financial by 2,145.7% in the 1st quarter. KBC Group NV now owns 45,072 shares of the bank's stock valued at $6,262,000 after purchasing an additional 43,065 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Wintrust Financial by 20.1% in the 1st quarter. California Public Employees Retirement System now owns 156,063 shares of the bank's stock valued at $21,683,000 after purchasing an additional 26,070 shares during the last quarter. Finally, Future Fund LLC grew its position in shares of Wintrust Financial by 26.8% during the 1st quarter. Future Fund LLC now owns 24,800 shares of the bank's stock worth $3,446,000 after buying an additional 5,248 shares during the period. Institutional investors own 93.48% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays lifted their target price on shares of Wintrust Financial from $190.00 to $192.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Truist Financial lifted their price objective on Wintrust Financial from $170.00 to $183.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Stephens initiated coverage on Wintrust Financial in a report on Friday, March 27th. They issued an "equal weight" rating and a $160.00 price objective for the company. TD Cowen increased their target price on Wintrust Financial from $173.00 to $176.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Wintrust Financial in a report on Monday, June 29th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $174.92.

Wintrust Financial Price Performance

Shares of NASDAQ WTFC opened at $163.66 on Tuesday. The company has a fifty day moving average price of $155.48 and a 200 day moving average price of $149.06. The firm has a market cap of $11.04 billion, a PE ratio of 13.72 and a beta of 0.84. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. Wintrust Financial Corporation has a 1-year low of $119.61 and a 1-year 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, beating analysts' consensus estimates of $3.15 by $0.15. The company had revenue of $961.41 million for the quarter, compared to analyst estimates of $735.36 million. Wintrust Financial had a return on equity of 13.15% and a net margin of 20.11%.During the same period in the previous year, the company posted $2.78 earnings per share. Research analysts predict that Wintrust Financial Corporation will post 13.03 earnings per share for the current fiscal year.

Insider Transactions at Wintrust Financial

In other news, COO David A. Dykstra sold 9,579 shares of Wintrust Financial stock in a transaction that occurred on 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 sale, the chief operating officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Suzet M. Mckinney sold 500 shares of the firm's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $148.96, for a total transaction of $74,480.00. Following the completion of the transaction, the director directly owned 3,303 shares of the company's stock, valued at approximately $492,014.88. This trade represents a 13.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 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 corporate 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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