Royal Bank of Canada Reduces Position in Wintrust Financial Corporation $WTFC

Key Points

• Royal Bank of Canada cut its Wintrust Financial position by 19.3% in the first quarter, selling 21,557 shares and retaining 90,131 shares valued at approximately $12.5 million. Institutional investors collectively own 93.48% of the company.
• Wintrust Financial reported quarterly EPS of $3.30, exceeding estimates of $3.15, while revenue rose 10.1% year over year to $738.63 million. The stock opened at $158.75 and trades at a consensus “Moderate Buy” rating with an average price target of $177.77.
• The company declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 1.4% yield. Analysts remain broadly positive, with nine Buy ratings and four Hold ratings.

Royal Bank of Canada decreased its holdings in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 19.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 90,131 shares of the bank's stock after selling 21,557 shares during the period. Royal Bank of Canada owned approximately 0.13% of Wintrust Financial worth $12,523,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. First Trust Advisors LP increased its holdings in shares of Wintrust Financial by 26.6% in the first quarter. First Trust Advisors LP now owns 1,830,268 shares of the bank's stock valued at $254,297,000 after purchasing an additional 385,069 shares during the last quarter. Geode Capital Management LLC boosted its stake in Wintrust Financial by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,273,042 shares of the bank's stock worth $178,038,000 after buying an additional 16,997 shares during the last quarter. Bank of America Corp DE grew its holdings in Wintrust Financial by 1.4% in the 3rd quarter. Bank of America Corp DE now owns 1,071,763 shares of the bank's stock valued at $141,944,000 after buying an additional 15,044 shares in the last quarter. Wellington Management Group LLP grew its holdings in Wintrust Financial by 22.2% in the 4th quarter. Wellington Management Group LLP now owns 832,352 shares of the bank's stock valued at $116,379,000 after buying an additional 151,385 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Wintrust Financial in the 4th quarter worth $111,924,000. 93.48% of the stock is owned by hedge funds and other institutional investors.

Wintrust Financial Stock Performance

NASDAQ WTFC opened at $158.75 on Friday. The stock has a market cap of $10.71 billion, a PE ratio of 12.75 and a beta of 0.85. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. Wintrust Financial Corporation has a twelve month low of $119.61 and a twelve month high of $167.21. The stock has a fifty day simple moving average of $158.58 and a 200-day simple moving average of $150.52.

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

Wintrust Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, August 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.4%. Wintrust Financial's dividend payout ratio (DPR) is currently 17.67%.

Wall Street Analysts Forecast Growth

WTFC has been the topic of several recent research reports. Capital One Financial set a $170.00 price target on shares of Wintrust Financial in a research report on Tuesday, July 21st. Citigroup cut shares of Wintrust Financial from a "buy" rating to a "hold" rating in a research report on Tuesday, July 21st. Weiss Ratings reiterated a "buy (b)" rating on shares of Wintrust Financial in a report on Monday, June 29th. Raymond James Financial started coverage on shares of Wintrust Financial in a research note on Tuesday, July 7th. They issued an "outperform" rating and a $180.00 price target for the company. Finally, Royal Bank Of Canada raised their price target on shares of Wintrust Financial from $175.00 to $185.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $177.77.

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.

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