Nicholas Investment Partners LP Increases Stake in Wintrust Financial Corporation $WTFC

Key Points

• Nicholas Investment Partners LP increased its Wintrust Financial stake by 6.2% in the fourth quarter, ending with 117,590 shares worth about $16.44 million.
• Wintrust Financial reported strong quarterly results, with EPS of $3.22 topping estimates and revenue of $713.17 million, up 10.9% year over year.
• The bank also paid a quarterly dividend of $0.55 per share and saw mixed analyst sentiment, with a consensus rating of “Moderate Buy” and a target price of $168.92.

Nicholas Investment Partners LP lifted its stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,590 shares of the bank's stock after acquiring an additional 6,917 shares during the period. Wintrust Financial accounts for about 1.2% of Nicholas Investment Partners LP's investment portfolio, making the stock its 15th largest position. Nicholas Investment Partners LP owned 0.18% of Wintrust Financial worth $16,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of WTFC. Norges Bank purchased a new position in Wintrust Financial in the fourth quarter valued at approximately $111,924,000. Wellington Management Group LLP purchased a new position in Wintrust Financial in the third quarter valued at approximately $90,187,000. Artemis Investment Management LLP purchased a new position in Wintrust Financial in the fourth quarter valued at approximately $59,287,000. Bank of Nova Scotia purchased a new position in Wintrust Financial in the fourth quarter valued at approximately $24,063,000. Finally, Meeder Asset Management Inc. purchased a new position in Wintrust Financial in the fourth quarter valued at approximately $21,669,000. Hedge funds and other institutional investors own 93.48% of the company's stock.

Insider Transactions at Wintrust Financial

In other news, Director Suzet M. Mckinney sold 500 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 3,303 shares of the company's stock, valued at approximately $492,014.88. This trade represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David A. Dykstra sold 9,579 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $148.82, for a total transaction of $1,425,546.78. Following the sale, the chief operating officer directly owned 179,810 shares of the company's stock, valued at $26,759,324.20. The trade was a 5.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 13,099 shares of company stock valued at $1,954,386. 1.24% of the stock is currently owned by corporate insiders.

Wintrust Financial Stock Up 2.2%

Shares of NASDAQ:WTFC opened at $159.26 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. Wintrust Financial Corporation has a 52-week low of $116.57 and a 52-week high of $162.96. The company has a 50 day moving average of $148.80 and a two-hundred day moving average of $145.18. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of 13.35 and a beta of 0.84.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings data on Monday, April 20th. The bank reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.96 by $0.26. Wintrust Financial had a net margin of 20.11% and a return on equity of 13.15%. The company had revenue of $713.17 million during the quarter, compared to the consensus estimate of $707.23 million. During the same quarter last year, the company earned $2.69 earnings per share. Wintrust Financial's revenue for the quarter was up 10.9% on a year-over-year basis. As a group, analysts forecast that Wintrust Financial Corporation will post 13.07 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 given 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 (DPR) is presently 18.44%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial cut their price target on shares of Wintrust Financial from $170.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, March 23rd. Piper Sandler restated an "overweight" rating and issued a $188.00 price target (up from $184.00) on shares of Wintrust Financial in a report on Wednesday, April 22nd. TD Cowen raised their price target on shares of Wintrust Financial from $173.00 to $176.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. DA Davidson reaffirmed a "buy" rating and issued a $165.00 price objective on shares of Wintrust Financial in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada increased 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Wintrust Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $168.92.

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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