Truist Financial Corp Sells 21,452 Shares of Wintrust Financial Corporation $WTFC

Key Points

• Truist Financial cut its stake in Wintrust Financial by 47.5% in the fourth quarter, selling 21,452 shares and leaving it with 23,707 shares worth about $3.3 million.
• Wintrust reported strong quarterly results, with EPS of $3.22 beating estimates by $0.26 and revenue of $713.17 million coming in slightly above expectations. Revenue also rose 10.9% year over year.
• The bank continues to reward shareholders with a quarterly dividend of $0.55 per share, while analysts currently hold a consensus Moderate Buy rating and an average price target of $168.92.

Truist Financial Corp reduced its holdings in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 47.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,707 shares of the bank's stock after selling 21,452 shares during the period. Truist Financial Corp's holdings in Wintrust Financial were worth $3,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Root Financial Partners LLC purchased a new position in shares of Wintrust Financial during the third quarter valued at approximately $27,000. Advisors Asset Management Inc. purchased a new position in Wintrust Financial during the first quarter valued at $27,000. Quent Capital LLC bought a new stake in Wintrust Financial in the third quarter worth $41,000. Richardson Financial Services Inc. grew its stake in shares of Wintrust Financial by 75.3% in the third quarter. Richardson Financial Services Inc. now owns 312 shares of the bank's stock worth $41,000 after acquiring an additional 134 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Wintrust Financial in the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 93.48% of the company's stock.

Wintrust Financial Price Performance

Shares of WTFC opened at $150.48 on Tuesday. The firm has a fifty day simple moving average of $142.24 and a two-hundred day simple moving average of $141.62. The firm has a market cap of $10.15 billion, a PE ratio of 12.61 and a beta of 0.86. 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 1-year low of $114.73 and a 1-year high of $162.96.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings data on Monday, April 20th. The bank reported $3.22 EPS for the quarter, topping the consensus estimate of $2.96 by $0.26. The company had revenue of $713.17 million during the quarter, compared to analyst estimates of $707.23 million. Wintrust Financial had a return on equity of 13.15% and a net margin of 20.11%.Wintrust Financial's revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.69 earnings per share. On average, equities analysts anticipate that Wintrust Financial Corporation will post 13.07 EPS for the current year.

Wintrust Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Thursday, May 14th. Wintrust Financial's payout ratio is currently 18.44%.

Insider Activity

In other Wintrust Financial news, COO David A. Dykstra sold 9,579 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $148.82, for a total value of $1,425,546.78. Following the transaction, the chief operating officer directly owned 179,810 shares in the company, valued at approximately $26,759,324.20. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,099 shares of company stock valued at $1,954,386 in the last quarter. 1.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on WTFC. Truist Financial reduced their price objective on shares of Wintrust Financial from $170.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, March 23rd. Piper Sandler restated an "overweight" rating and issued a $188.00 price objective (up from $184.00) on shares of Wintrust Financial in a report on Wednesday, April 22nd. Stephens initiated coverage on Wintrust Financial in a research report on Friday, March 27th. They issued an "equal weight" rating and a $160.00 price objective on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of Wintrust Financial in a research note on Wednesday, January 21st. Finally, Citigroup boosted their price target on Wintrust Financial from $178.00 to $182.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. One 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $168.92.

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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