Polar Asset Management Partners Inc. Makes New $27.87 Million Investment in Wintrust Financial Corporation $WTFC

Key Points

• Polar Asset Management Partners initiated a $27.87 million position in Wintrust Financial during the second quarter, purchasing 173,415 shares and holding approximately 0.26% of the company. Institutional investors collectively own 93.48% of WTFC.
• Wintrust reported strong quarterly results, with earnings of $3.30 per share and revenue of $738.63 million, surpassing analyst estimates; revenue increased 10.1% year over year.
• Shares opened at $151.09, while analysts maintain a “Moderate Buy” consensus with an average price target of $177.77. The company also pays a quarterly dividend of $0.55, yielding approximately 1.5% annually.

Polar Asset Management Partners Inc. bought a new position in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 173,415 shares of the bank's stock, valued at approximately $27,871,000. Polar Asset Management Partners Inc. owned approximately 0.26% of Wintrust Financial at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Wintrust Financial in the 2nd quarter valued at $27,000. Advisors Asset Management Inc. bought a new stake in shares of Wintrust Financial during the first quarter worth $27,000. Elyxium Wealth LLC bought a new stake in shares of Wintrust Financial during the fourth quarter worth $31,000. Creative Financial Designs Inc. ADV lifted its stake in shares of Wintrust Financial by 231.9% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank's stock valued at $32,000 after acquiring an additional 160 shares during the period. Finally, Harbour Investments Inc. lifted its stake in shares of Wintrust Financial by 72.7% during the fourth quarter. Harbour Investments Inc. now owns 240 shares of the bank's stock valued at $34,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 93.48% of the company's stock.

Insider Buying and Selling at Wintrust Financial

In related news, COO David A. Dykstra sold 13,515 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $162.77, for a total value of $2,199,836.55. Following the sale, the chief operating officer directly owned 166,449 shares in the company, valued at $27,092,903.73. This trade represents a 7.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.24% of the stock is owned by corporate insiders.

Wintrust Financial Stock Down 0.6%

Shares of Wintrust Financial stock opened at $151.09 on Wednesday. The business has a fifty day simple moving average of $159.57 and a 200 day simple moving average of $151.26. The stock has a market cap of $10.19 billion, a PE ratio of 12.14 and a beta of 0.85. 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 12 month low of $119.61 and a 12 month high of $167.21.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last released its earnings results on Monday, July 20th. The bank reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.15. Wintrust Financial had a return on equity of 13.37% and a net margin of 20.72%.The firm had revenue of $738.63 million for the quarter, compared to analyst estimates of $735.36 million. During the same quarter in the prior year, the firm posted $2.78 earnings per share. The company's quarterly revenue was up 10.1% on a year-over-year basis. Research analysts predict that Wintrust Financial Corporation will post 13.04 EPS for the current year.

Wintrust Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. Wintrust Financial's dividend payout ratio is 17.67%.

Wall Street Analysts Forecast Growth

WTFC has been the subject of a number of research reports. DA Davidson lifted their price objective on Wintrust Financial from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Brean Capital downgraded shares of Wintrust Financial from a "buy" rating to a "neutral" rating and set a $170.00 target price on the stock. in a research report on Tuesday, July 21st. TD Cowen reduced their target price on shares of Wintrust Financial from $184.00 to $183.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Barclays lifted their price target on shares of Wintrust Financial from $190.00 to $192.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Finally, Raymond James Financial started coverage on shares of Wintrust Financial in a research note on Tuesday, July 7th. They set an "outperform" rating and a $180.00 price target for the company. Nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $177.77.

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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