Reinhart Partners LLC. Trims Position in Wintrust Financial Corporation $WTFC

Key Points

• Reinhart Partners LLC reduced its Wintrust Financial stake by 14.2% in the fourth quarter, selling 86,755 shares and leaving it with 524,571 shares valued at about $73.3 million.
• Wintrust Financial reported better-than-expected quarterly earnings of $3.22 per share, topping estimates and posting revenue of $713.17 million, up 10.9% from a year earlier.
• The bank also paid a quarterly dividend of $0.55 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $168.92.

Reinhart Partners LLC. lessened its holdings in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 524,571 shares of the bank's stock after selling 86,755 shares during the quarter. Wintrust Financial makes up about 2.2% of Reinhart Partners LLC.'s investment portfolio, making the stock its 24th biggest position. Reinhart Partners LLC. owned 0.78% of Wintrust Financial worth $73,348,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Choreo LLC lifted its stake in shares of Wintrust Financial by 3.4% during the 4th quarter. Choreo LLC now owns 2,121 shares of the bank's stock worth $299,000 after purchasing an additional 69 shares during the period. GAMMA Investing LLC raised its position in shares of Wintrust Financial by 4.6% in the 4th quarter. GAMMA Investing LLC now owns 1,755 shares of the bank's stock worth $245,000 after buying an additional 77 shares during the period. Cresset Asset Management LLC raised its position in shares of Wintrust Financial by 2.4% in the 3rd quarter. Cresset Asset Management LLC now owns 3,730 shares of the bank's stock worth $494,000 after buying an additional 88 shares during the period. Savant Capital LLC raised its position in shares of Wintrust Financial by 1.4% in the 4th quarter. Savant Capital LLC now owns 6,748 shares of the bank's stock worth $944,000 after buying an additional 95 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of Wintrust Financial by 20.6% in the 2nd quarter. NewEdge Advisors LLC now owns 586 shares of the bank's stock worth $73,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 93.48% of the company's stock.

Wintrust Financial Stock Up 2.1%

Shares of NASDAQ WTFC opened at $150.10 on Wednesday. Wintrust Financial Corporation has a 12-month low of $116.57 and a 12-month high of $162.96. The company has a market cap of $10.12 billion, a P/E ratio of 12.58 and a beta of 0.84. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average price of $145.60 and a 200 day moving average price of $143.68.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its quarterly earnings results 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 return on equity of 13.15% and a net margin of 20.11%.The firm had revenue of $713.17 million during the quarter, compared to the consensus estimate of $707.23 million. During the same period in the prior year, the firm earned $2.69 EPS. The firm's quarterly revenue was up 10.9% compared to the same quarter last year. Research analysts anticipate that Wintrust Financial Corporation will post 13.07 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.5%. The ex-dividend date was Thursday, May 14th. Wintrust Financial's dividend payout ratio is currently 18.44%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WTFC shares. Citigroup increased their target price on Wintrust Financial from $178.00 to $182.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada increased their target price on Wintrust Financial from $175.00 to $185.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Piper Sandler reaffirmed an "overweight" rating and issued a $188.00 target price (up from $184.00) on shares of Wintrust Financial in a research report on Wednesday, April 22nd. Barclays increased their target price on Wintrust Financial from $185.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. Finally, UBS Group reiterated a "buy" rating and issued a $176.00 price target on shares of Wintrust Financial in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $168.92.

Insider Activity at Wintrust Financial

In other news, COO David A. Dykstra sold 9,579 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 179,810 shares in the company, valued at $26,759,324.20. This trade represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Suzet M. Mckinney sold 500 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $148.96, for a total value of $74,480.00. Following the sale, the director owned 3,303 shares of the company's stock, valued at $492,014.88. This represents a 13.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 13,099 shares of company stock worth $1,954,386. Corporate insiders own 1.24% of the company's stock.

Wintrust Financial Profile

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.

Want to see what other hedge funds are holding WTFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wintrust Financial Corporation (NASDAQ:WTFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.