Park Avenue Securities LLC Makes New $2.12 Million Investment in Wintrust Financial Corporation $WTFC

Key Points

• Park Avenue Securities LLC made a new investment of $2.12 million in Wintrust Financial Corporation, acquiring 17,079 shares during the second quarter.
• Wintrust Financial reported a quarterly earnings per share of $2.78, exceeding estimates of $2.59, along with a total revenue of $670.78 million for the quarter.
• The company's dividend payout ratio is 18.92%, with recent quarterly dividends of $0.50 per share yielding a 1.5% annualized rate.

Park Avenue Securities LLC acquired a new stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 17,079 shares of the bank's stock, valued at approximately $2,117,000.

A number of other institutional investors and hedge funds have also modified their holdings of WTFC. CHICAGO TRUST Co NA lifted its stake in Wintrust Financial by 0.5% in the 1st quarter. CHICAGO TRUST Co NA now owns 19,896 shares of the bank's stock valued at $2,238,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Wintrust Financial by 0.5% during the first quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the bank's stock valued at $2,092,000 after acquiring an additional 100 shares during the last quarter. Securian Asset Management Inc. lifted its position in shares of Wintrust Financial by 2.0% in the first quarter. Securian Asset Management Inc. now owns 5,098 shares of the bank's stock valued at $573,000 after acquiring an additional 100 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Wintrust Financial by 52.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 289 shares of the bank's stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Wintrust Financial by 20.4% during the second quarter. Farther Finance Advisors LLC now owns 601 shares of the bank's stock worth $74,000 after purchasing an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 93.48% of the company's stock.

Wintrust Financial Price Performance

Wintrust Financial stock opened at $131.73 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $132.27 and a 200 day moving average price of $121.61. Wintrust Financial Corporation has a 12-month low of $89.10 and a 12-month high of $142.04. The stock has a market cap of $8.82 billion, a P/E ratio of 12.46 and a beta of 0.87.

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

Wintrust Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.00 annualized dividend and a yield of 1.5%. Wintrust Financial's dividend payout ratio (DPR) is 18.92%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Wintrust Financial from $130.00 to $138.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada raised their price target on shares of Wintrust Financial from $137.00 to $158.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of Wintrust Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Jefferies Financial Group increased their price objective on shares of Wintrust Financial from $150.00 to $165.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Truist Financial raised their target price on shares of Wintrust Financial from $137.00 to $151.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $147.31.

Insiders Place Their Bets

In related news, insider Edward J. Wehmer acquired 3,919 shares of Wintrust Financial stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average cost of $26.35 per share, for a total transaction of $103,265.65. Following the acquisition, the insider owned 3,919 shares in the company, valued at approximately $103,265.65. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO David A. Dykstra sold 14,942 shares of the stock in a transaction dated 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 transaction, the chief operating officer directly owned 182,208 shares of the company's stock, valued at approximately $23,965,818.24. This trade represents a 7.58% decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.

Wintrust Financial Company 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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