The Manufacturers Life Insurance Company Takes $7.52 Million Position in Wintrust Financial Corporation $WTFC

Key Points

• The Manufacturers Life Insurance Company purchased 46,768 Wintrust Financial shares worth approximately $7.52 million, while institutional investors collectively own 93.48% of the stock.
• Wintrust Financial exceeded quarterly expectations, reporting $3.30 in earnings per share and $738.63 million in revenue, with year-over-year revenue growth of 10.1%.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $177.77, compared with the stock’s reported opening price of $152.95.

The Manufacturers Life Insurance Company bought a new stake in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 46,768 shares of the bank's stock, valued at approximately $7,517,000. The Manufacturers Life Insurance Company owned 0.07% of Wintrust Financial at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG bought a new stake in shares of Wintrust Financial during the second quarter valued at approximately $8,320,000. Simplicity Wealth LLC acquired a new stake in Wintrust Financial in the 2nd quarter valued at $866,000. GSA Capital Partners LLP acquired a new stake in Wintrust Financial in the 2nd quarter valued at $1,437,000. Advisors Capital Management LLC bought a new stake in Wintrust Financial during the 2nd quarter valued at $3,320,000. Finally, F m Investments LLC increased its stake in Wintrust Financial by 61.6% during the 4th quarter. F m Investments LLC now owns 70,857 shares of the bank's stock valued at $9,907,000 after purchasing an additional 27,013 shares in the last quarter. 93.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Wintrust Financial

In related news, COO David A. Dykstra sold 13,515 shares of Wintrust Financial stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $162.77, for a total value of $2,199,836.55. Following the completion of the sale, the chief operating officer owned 166,449 shares of the company's stock, valued at approximately $27,092,903.73. This trade represents a 7.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.24% of the company's stock.

Wintrust Financial Stock Performance

Shares of WTFC stock opened at $152.95 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. The firm has a market cap of $10.32 billion, a P/E ratio of 12.29 and a beta of 0.85. The company has a 50 day moving average of $159.51 and a 200-day moving average of $151.12. Wintrust Financial Corporation has a 12-month low of $119.61 and a 12-month high of $167.21.

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

Wintrust Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, August 6th. This represents a $2.20 annualized dividend and a dividend yield of 1.4%. Wintrust Financial's dividend payout ratio is presently 17.67%.

Analysts Set New Price Targets

WTFC has been the subject of a number of analyst reports. TD Cowen reduced their price objective on shares of Wintrust Financial from $184.00 to $183.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. UBS Group restated a "neutral" rating and issued a $170.00 target price on shares of Wintrust Financial in a report on Tuesday, July 7th. Citigroup cut shares of Wintrust Financial from a "buy" rating to a "hold" rating in a research report on Tuesday, July 21st. Brean Capital downgraded Wintrust Financial from a "buy" rating to a "neutral" rating and set a $170.00 price target for the company. in a research note on Tuesday, July 21st. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Wintrust Financial in a report on Monday, June 29th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Wintrust Financial presently has a consensus rating of "Moderate Buy" and an average price target of $177.77.

About Wintrust Financial

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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