Strs Ohio Cuts Stock Position in Wintrust Financial Corporation $WTFC

Key Points

• Strs Ohio reduced its stake in Wintrust Financial by 22.6% in the first quarter, selling 17,702 shares and leaving it with 60,579 shares valued at about $8.4 million.
• Wintrust Financial posted solid quarterly results, with EPS of $3.22 beating estimates and revenue rising 10.9% year over year to $713.17 million.
• Analysts remain generally positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $170.58, even as some recent insider sales were disclosed.

Strs Ohio decreased its holdings in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 22.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,579 shares of the bank's stock after selling 17,702 shares during the quarter. Strs Ohio owned about 0.09% of Wintrust Financial worth $8,417,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Wintrust Financial in the 4th quarter worth about $111,924,000. Wellington Management Group LLP bought a new position in shares of Wintrust Financial in the 3rd quarter valued at about $90,187,000. Artemis Investment Management LLP purchased a new position in Wintrust Financial in the fourth quarter worth about $59,287,000. Vaughan Nelson Investment Management L.P. bought a new stake in Wintrust Financial during the first quarter worth approximately $34,272,000. Finally, Balyasny Asset Management L.P. increased its stake in Wintrust Financial by 491.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 254,329 shares of the bank's stock worth $35,560,000 after acquiring an additional 211,338 shares during the last quarter. Institutional investors own 93.48% of the company's stock.

Wintrust Financial Stock Performance

WTFC opened at $161.19 on Monday. The stock has a market cap of $10.87 billion, a price-to-earnings ratio of 13.51 and a beta of 0.84. The stock's 50 day moving average price is $152.82 and its 200-day moving average price is $147.51. Wintrust Financial Corporation has a one year low of $119.61 and a one year high of $164.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 0.98.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings results on Monday, April 20th. The bank reported $3.22 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $707.23 million. During the same period in the prior year, the business posted $2.69 earnings per share. The company's revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities analysts forecast that Wintrust Financial Corporation will post 13.09 EPS for the current year.

Wintrust Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were paid a $0.55 dividend. The ex-dividend date was Thursday, May 14th. This represents a $2.20 dividend on an annualized basis and a yield of 1.4%. Wintrust Financial's dividend payout ratio (DPR) is presently 18.44%.

Insider Transactions at Wintrust Financial

In other news, Director Suzet M. Mckinney sold 500 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $148.96, for a total transaction of $74,480.00. Following the completion of the sale, the director directly owned 3,303 shares of the company's stock, valued at approximately $492,014.88. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David L. Stoehr sold 3,020 shares of the company's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $150.45, for a total transaction of $454,359.00. Following the completion of the transaction, the chief financial officer owned 13,213 shares in the company, valued at approximately $1,987,895.85. The trade was a 18.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 13,099 shares of company stock worth $1,954,386. 1.24% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $188.00 price objective (up from $184.00) on shares of Wintrust Financial in a research note on Wednesday, April 22nd. Truist Financial cut their target price on Wintrust Financial from $170.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, March 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Wintrust Financial in a research report on Monday, June 29th. Citigroup lifted their price objective on shares of Wintrust Financial from $178.00 to $182.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Finally, Stephens initiated coverage on shares of Wintrust Financial in a research report on Friday, March 27th. They set an "equal weight" rating and a $160.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $170.58.

Wintrust Financial Company 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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