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Choreo LLC Has $733,000 Position in Wintrust Financial Corporation (NASDAQ:WTFC)

Wintrust Financial logo with Finance background

Key Points

  • Choreo LLC reduced its holdings in Wintrust Financial Corporation by 41.3% during the first quarter, owning 6,521 shares valued at $733,000 after selling 4,595 shares.
  • Wall Street analysts have a generally positive outlook on the stock, with several brokerages increasing their target prices, the highest being $160.00 from Piper Sandler.
  • Wintrust Financial recently announced a quarterly dividend of $0.50 per share, representing an annual yield of 1.51% and a payout ratio of 18.92%.
  • Five stocks we like better than Wintrust Financial.

Choreo LLC lessened its holdings in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 41.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,521 shares of the bank's stock after selling 4,595 shares during the quarter. Choreo LLC's holdings in Wintrust Financial were worth $733,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WTFC. Envestnet Asset Management Inc. raised its holdings in Wintrust Financial by 43.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 349,983 shares of the bank's stock valued at $39,359,000 after acquiring an additional 105,754 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Wintrust Financial by 7.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,426 shares of the bank's stock valued at $273,000 after acquiring an additional 165 shares in the last quarter. Fifth Third Bancorp raised its holdings in Wintrust Financial by 87.9% in the 1st quarter. Fifth Third Bancorp now owns 25,049 shares of the bank's stock valued at $2,817,000 after acquiring an additional 11,719 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in Wintrust Financial by 17.3% in the 1st quarter. Wedge Capital Management L L P NC now owns 20,231 shares of the bank's stock valued at $2,275,000 after acquiring an additional 2,986 shares in the last quarter. Finally, Simplicity Wealth LLC bought a new stake in shares of Wintrust Financial in the 1st quarter valued at approximately $567,000. Institutional investors own 93.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on WTFC shares. Jefferies Financial Group set a $145.00 price target on Wintrust Financial and gave the company a "buy" rating in a research report on Wednesday, May 21st. Hovde Group upped their price target on Wintrust Financial from $107.00 to $115.00 and gave the company a "market perform" rating in a research report on Wednesday, April 23rd. Stephens reduced their target price on Wintrust Financial from $145.00 to $132.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods boosted their target price on Wintrust Financial from $130.00 to $138.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised Wintrust Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wintrust Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $145.77.

Get Our Latest Stock Analysis on Wintrust Financial

Insiders Place Their Bets

In other news, insider Edward J. Wehmer purchased 3,919 shares of the business's stock in a transaction 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 completion of the purchase, the insider directly owned 3,919 shares in the company, valued at $103,265.65. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David A. Dykstra sold 14,942 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $131.53, for a total transaction of $1,965,321.26. Following the completion of the transaction, the chief operating officer directly owned 182,208 shares in the company, valued at $23,965,818.24. The trade was a 7.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.01% of the company's stock.

Wintrust Financial Stock Down 0.8%

Wintrust Financial stock traded down $0.99 during mid-day trading on Wednesday, reaching $130.51. The company's stock had a trading volume of 443,586 shares, compared to its average volume of 444,485. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 12.35 and a beta of 0.82. Wintrust Financial Corporation has a 12 month low of $89.10 and a 12 month high of $142.04. The business's 50 day simple moving average is $125.51 and its 200 day simple moving average is $120.51. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01.

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

Wintrust Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Thursday, August 7th. Wintrust Financial's dividend payout ratio is currently 18.92%.

Wintrust Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wintrust Financial (NASDAQ:WTFC)

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