Raymond James Financial Inc. Has $42.44 Million Stock Position in Wintrust Financial Corporation $WTFC

Key Points

• Raymond James Financial Inc. increased its stake in Wintrust Financial Corporation by 16.0%, acquiring 52,154 shares in the first quarter, bringing its total holdings to approximately $42.4 million.
• Insider Edward J. Wehmer bought 3,919 shares at an average price of $26.35, while COO David A. Dykstra sold 14,942 shares, representing a 7.58% decrease in his ownership.
• Wintrust Financial recently reported earnings of $2.78 per share, surpassing analyst expectations, and also declared a quarterly dividend of $0.50 per share, yielding 1.5%.

Raymond James Financial Inc. boosted its holdings in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 377,405 shares of the bank's stock after acquiring an additional 52,154 shares during the quarter. Raymond James Financial Inc. owned about 0.56% of Wintrust Financial worth $42,443,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of WTFC. Earnest Partners LLC acquired a new position in shares of Wintrust Financial in the 4th quarter worth approximately $163,767,000. Nuveen LLC bought a new stake in shares of Wintrust Financial in the 1st quarter worth approximately $47,769,000. Alyeska Investment Group L.P. bought a new position in shares of Wintrust Financial in the fourth quarter valued at $51,754,000. Bank of America Corp DE increased its holdings 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 valued at $111,981,000 after buying an additional 320,954 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of Wintrust Financial during the 4th quarter valued at $35,652,000. 93.48% of the stock is owned by institutional investors and hedge funds.

Wintrust Financial Stock Down 0.1%

Shares of NASDAQ:WTFC traded down $0.18 during midday trading on Thursday, hitting $137.53. 95,065 shares of the stock were exchanged, compared to its average volume of 438,104. The company has a market capitalization of $9.21 billion, a PE ratio of 13.01 and a beta of 0.85. Wintrust Financial Corporation has a 52-week low of $89.10 and a 52-week high of $142.04. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01. The business's fifty day simple moving average is $128.87 and its two-hundred day simple moving average is $120.03.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $670.78 million for the quarter, compared to analyst estimates 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 last year, the firm earned $2.32 earnings per share. As a group, research analysts predict that Wintrust Financial Corporation will post 10.36 earnings per share for the current fiscal year.

Wintrust Financial Dividend Announcement

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

Analyst Ratings Changes

WTFC has been the topic of several recent analyst reports. Truist Financial boosted their price objective on Wintrust Financial from $137.00 to $151.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Wall Street Zen upgraded shares of Wintrust Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Barclays reaffirmed an "overweight" rating and issued a $162.00 price objective (up previously from $145.00) on shares of Wintrust Financial in a research note on Tuesday, July 8th. DA Davidson boosted their target price 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. Finally, Piper Sandler restated an "overweight" rating and issued a $160.00 target price (up previously from $141.00) on shares of Wintrust Financial in a report on Wednesday, July 23rd. One equities research 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's 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 Transactions at Wintrust Financial

In other news, COO David A. Dykstra sold 14,942 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were 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 approximately $23,965,818.24. This represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward J. Wehmer acquired 3,919 shares of Wintrust Financial stock in a transaction on Friday, July 25th. The stock was purchased at an average price of $26.35 per share, with a total value of $103,265.65. Following the transaction, the insider directly owned 3,919 shares in the company, valued at approximately $103,265.65. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.01% of the stock is owned by corporate 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.