Nuveen LLC Invests $47.77 Million in Wintrust Financial Corporation (NASDAQ:WTFC)

Key Points

• Nuveen LLC invested approximately $47.77 million in Wintrust Financial, acquiring 424,768 shares of the bank's stock, which represents around 0.63% ownership.
• Wintrust Financial reported a Q2 earnings per share (EPS) of $2.78, exceeding analyst expectations, and had a revenue of $670.78 million for the quarter.
• The company recently announced a quarterly dividend of $0.50, resulting in an annualized yield of 1.6% and a payout ratio of 18.92%.

Nuveen LLC purchased a new position in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 424,768 shares of the bank's stock, valued at approximately $47,769,000. Nuveen LLC owned about 0.63% of Wintrust Financial as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Earnest Partners LLC purchased a new stake in shares of Wintrust Financial during the 4th quarter worth approximately $163,767,000. First Trust Advisors LP grew its stake in Wintrust Financial by 36.5% in the 4th quarter. First Trust Advisors LP now owns 1,263,837 shares of the bank's stock valued at $157,613,000 after buying an additional 337,763 shares in the last quarter. Invesco Ltd. grew its stake in Wintrust Financial by 2.7% in the 1st quarter. Invesco Ltd. now owns 1,128,724 shares of the bank's stock valued at $126,936,000 after buying an additional 30,018 shares in the last quarter. Bank of America Corp DE grew its stake in Wintrust Financial by 55.6% in the 4th quarter. Bank of America Corp DE now owns 897,932 shares of the bank's stock valued at $111,981,000 after buying an additional 320,954 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Wintrust Financial by 53.3% in the 1st quarter. Jennison Associates LLC now owns 807,390 shares of the bank's stock valued at $90,799,000 after buying an additional 280,568 shares in the last quarter. Hedge funds and other institutional investors own 93.48% of the company's stock.

Wintrust Financial Stock Performance

NASDAQ WTFC opened at $127.88 on Friday. Wintrust Financial Corporation has a 52-week low of $89.10 and a 52-week high of $142.04. The company has a fifty day moving average of $126.81 and a 200-day moving average of $119.97. The company has a market capitalization of $8.56 billion, a P/E ratio of 12.10 and a beta of 0.85. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its earnings results on Monday, July 21st. The bank reported $2.78 earnings per share (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 analyst estimates of $661.43 million. During the same period in the previous year, the business earned $2.32 earnings per share. As a group, equities research analysts predict that Wintrust Financial Corporation will post 10.36 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be given a $0.50 dividend. The ex-dividend date is Thursday, August 7th. This represents a $2.00 annualized dividend and a yield of 1.6%. Wintrust Financial's payout ratio is 18.92%.

Analyst Ratings Changes

A number of research analysts recently weighed in on WTFC shares. Truist Financial lifted their price objective on shares of Wintrust Financial from $137.00 to $151.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Hovde Group lifted their price objective on shares of Wintrust Financial from $107.00 to $115.00 and gave the company a "market perform" rating in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Wintrust Financial from $130.00 to $138.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Barclays reiterated an "overweight" rating and issued a $162.00 price objective (up from $145.00) on shares of Wintrust Financial in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada raised their price target on shares of Wintrust Financial from $137.00 to $158.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wintrust Financial currently has a consensus rating of "Moderate Buy" and an average price target of $145.77.

Insider Buying and Selling at Wintrust Financial

In related news, insider Edward J. Wehmer bought 3,919 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average cost of $26.35 per share, for a total transaction of $103,265.65. Following the completion of the transaction, the insider owned 3,919 shares of the company's stock, valued at approximately $103,265.65. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David A. Dykstra sold 14,942 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $131.53, for a total transaction of $1,965,321.26. Following the completion of the transaction, the chief operating officer owned 182,208 shares of the company's stock, valued at $23,965,818.24. This trade represents a 7.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

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.

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