Millennium Management LLC Increases Stake in Wintrust Financial Corporation $WTFC

Millennium Management LLC lifted its holdings in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 539.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 594,711 shares of the bank's stock after buying an additional 501,669 shares during the period. Millennium Management LLC owned approximately 0.89% of Wintrust Financial worth $66,881,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of WTFC. Nuveen LLC purchased a new position in shares of Wintrust Financial in the first quarter worth about $47,769,000. Bank of America Corp DE lifted its stake in shares of Wintrust Financial by 55.6% in the fourth quarter. Bank of America Corp DE now owns 897,932 shares of the bank's stock worth $111,981,000 after buying an additional 320,954 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Wintrust Financial by 53.3% in the first quarter. Jennison Associates LLC now owns 807,390 shares of the bank's stock worth $90,799,000 after buying an additional 280,568 shares in the last quarter. GAMMA Investing LLC raised its stake in Wintrust Financial by 21,245.9% during the first quarter. GAMMA Investing LLC now owns 268,105 shares of the bank's stock worth $30,151,000 after purchasing an additional 266,849 shares during the period. Finally, Northern Trust Corp raised its stake in Wintrust Financial by 20.2% during the first quarter. Northern Trust Corp now owns 852,583 shares of the bank's stock worth $95,881,000 after purchasing an additional 143,401 shares during the period. 93.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wintrust Financial

In other news, COO David A. Dykstra sold 14,942 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $131.53, for a total value of $1,965,321.26. Following the completion of the transaction, the chief operating officer owned 182,208 shares in the company, valued at approximately $23,965,818.24. This represents a 7.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Edward J. Wehmer purchased 3,919 shares of Wintrust Financial stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average price of $26.35 per share, with a total value of $103,265.65. Following the transaction, the insider owned 3,919 shares in the company, valued at $103,265.65. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Wintrust Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Raymond James Financial reissued a "strong-buy" rating and issued a $157.00 price target (up from $155.00) on shares of Wintrust Financial in a research note on Wednesday, July 23rd. DA Davidson boosted their price target on shares of Wintrust Financial from $135.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada boosted their price target on shares of Wintrust Financial from $137.00 to $158.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Piper Sandler restated an "overweight" rating and issued a $160.00 price objective (up previously from $141.00) on shares of Wintrust Financial in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Wintrust Financial presently has an average rating of "Moderate Buy" and a consensus target price of $147.31.

Wintrust Financial Stock Down 0.4%

NASDAQ WTFC traded down $0.51 on Friday, hitting $135.58. 292,841 shares of the stock were exchanged, compared to its average volume of 367,155. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. Wintrust Financial Corporation has a fifty-two week low of $89.10 and a fifty-two week high of $142.04. The company has a market cap of $9.08 billion, a PE ratio of 12.83 and a beta of 0.87. The company has a 50-day moving average price of $131.91 and a 200-day moving average price of $120.76.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The bank reported $2.78 EPS for the quarter, topping the consensus estimate of $2.59 by $0.19. Wintrust Financial had a net margin of 18.06% and a return on equity of 12.08%. The company had revenue of $670.78 million during the quarter, compared to analysts' expectations of $661.43 million. During the same quarter in the previous year, the business posted $2.32 EPS. Sell-side analysts anticipate that Wintrust Financial Corporation will post 10.36 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a $0.50 dividend. The ex-dividend date was Thursday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. Wintrust Financial's dividend payout ratio is presently 18.92%.

Wintrust Financial Profile

Wintrust Financial Corporation operates as a financial holding company. It operates in three segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment offers non-interest bearing deposits, non-brokered interest-bearing transaction accounts, and savings and domestic time deposits; home equity, consumer, and real estate loans; safe deposit facilities; and automatic teller machine (ATM), online and mobile banking, and other services.