Strs Ohio Makes New Investment in Wintrust Financial Corporation $WTFC

Key Points

• Strs Ohio has acquired a new stake in Wintrust Financial Corporation, purchasing 104,863 shares valued at approximately $11.79 million, representing a 0.16% ownership stake by the end of the most recent quarter.
• Several research analysts have raised their price targets for Wintrust Financial, with DA Davidson and Jefferies Financial Group setting objectives as high as $165.00, contributing to a consensus rating of "Moderate Buy".
• The company recently declared a quarterly dividend of $0.50, resulting in an annualized yield of 1.5%, with a payout ratio of 18.92%.

Strs Ohio purchased a new position in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 104,863 shares of the bank's stock, valued at approximately $11,793,000. Strs Ohio owned 0.16% of Wintrust Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in WTFC. Millennium Management LLC boosted its position in Wintrust Financial by 539.2% during the 1st quarter. Millennium Management LLC now owns 594,711 shares of the bank's stock worth $66,881,000 after acquiring an additional 501,669 shares during the period. Nuveen LLC acquired a new stake in shares of Wintrust Financial in the first quarter valued at $47,769,000. Jennison Associates LLC lifted its holdings in shares of Wintrust Financial by 53.3% in the first quarter. Jennison Associates LLC now owns 807,390 shares of the bank's stock valued at $90,799,000 after buying an additional 280,568 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Wintrust Financial by 21,245.9% in the first quarter. GAMMA Investing LLC now owns 268,105 shares of the bank's stock valued at $30,151,000 after buying an additional 266,849 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Wintrust Financial by 20.2% in the first quarter. Northern Trust Corp now owns 852,583 shares of the bank's stock valued at $95,881,000 after buying an additional 143,401 shares during the period. Institutional investors and hedge funds own 93.48% of the company's stock.

Wintrust Financial Stock Up 2.0%

Shares of NASDAQ WTFC traded up $2.74 during mid-day trading on Thursday, reaching $136.74. 284,613 shares of the company traded hands, compared to its average volume of 383,165. 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 stock has a market cap of $9.15 billion, a PE ratio of 12.94 and a beta of 0.87. The company's fifty day moving average is $132.06 and its two-hundred day moving average is $121.09. Wintrust Financial Corporation has a fifty-two week low of $89.10 and a fifty-two week high of $142.04.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The bank reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.19. The business had revenue of $670.78 million for the quarter, compared to analyst estimates of $661.43 million. Wintrust Financial had a return on equity of 12.08% and a net margin of 18.06%.During the same quarter in the prior year, the firm posted $2.32 EPS. On average, analysts expect that Wintrust Financial Corporation will post 10.36 earnings per share for the current year.

Wintrust Financial Announces Dividend

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

Insider Activity at Wintrust Financial

In other Wintrust Financial news, insider Edward J. Wehmer bought 3,919 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average price of $26.35 per share, for a total transaction of $103,265.65. Following the purchase, the insider directly owned 3,919 shares in the company, valued at $103,265.65. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO David A. Dykstra sold 14,942 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $131.53, for a total value of $1,965,321.26. Following the sale, the chief operating officer owned 182,208 shares of the company's stock, valued at approximately $23,965,818.24. The trade was a 7.58% decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Analyst Ratings Changes

WTFC has been the subject of several research analyst reports. Wall Street Zen upgraded Wintrust Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods upped their price objective on Wintrust Financial from $130.00 to $138.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada upped their price objective on Wintrust Financial from $137.00 to $158.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Jefferies Financial Group upped their price objective on Wintrust Financial from $150.00 to $165.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Truist Financial upped their target price on Wintrust Financial from $137.00 to $151.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One 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. According to MarketBeat, Wintrust Financial currently has an average rating of "Moderate Buy" and a consensus price target of $147.31.

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.