Kovitz Investment Group Partners LLC Purchases 3,169 Shares of Wintrust Financial Corporation $WTFC

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Wintrust Financial by 122.3% during the first quarter, owning 5,761 shares worth $648,000 after acquiring additional shares.
• Wintrust Financial reported an EPS of $2.78 for the recent quarter, exceeding estimates, with a net revenue of $670.78 million, up from consensus expectations.
• The company announced a quarterly dividend of $0.50 per share, delivering an annualized yield of 1.6%, with a payout ratio of 18.92%.

Kovitz Investment Group Partners LLC increased its holdings in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 122.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,761 shares of the bank's stock after buying an additional 3,169 shares during the period. Kovitz Investment Group Partners LLC's holdings in Wintrust Financial were worth $648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Place Capital Corp raised its position in Wintrust Financial by 1,264.7% during the first quarter. Park Place Capital Corp now owns 232 shares of the bank's stock valued at $26,000 after purchasing an additional 215 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Wintrust Financial during the first quarter valued at about $36,000. Opal Wealth Advisors LLC purchased a new stake in Wintrust Financial during the first quarter valued at about $38,000. Parallel Advisors LLC raised its position in Wintrust Financial by 33.9% during the first quarter. Parallel Advisors LLC now owns 593 shares of the bank's stock valued at $67,000 after purchasing an additional 150 shares in the last quarter. Finally, Quarry LP purchased a new stake in Wintrust Financial during the fourth quarter valued at about $78,000. Hedge funds and other institutional investors own 93.48% of the company's stock.

Wintrust Financial Trading Up 4.1%

Shares of NASDAQ:WTFC traded up $5.31 during midday trading on Friday, hitting $134.02. 489,618 shares of the stock traded hands, compared to its average volume of 364,002. Wintrust Financial Corporation has a one year low of $89.10 and a one year high of $142.04. The stock has a market capitalization of $8.97 billion, a PE ratio of 12.68 and a beta of 0.85. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. The business's 50 day moving average is $127.79 and its two-hundred day moving average is $119.84.

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

Wintrust Financial Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada raised their price target on Wintrust Financial from $137.00 to $158.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. 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. Keefe, Bruyette & Woods lifted their price objective on Wintrust Financial from $130.00 to $138.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Wall Street Zen upgraded Wintrust Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Barclays reiterated an "overweight" rating and issued a $162.00 price objective (up previously from $145.00) on shares of Wintrust Financial in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Wintrust Financial has an average rating of "Moderate Buy" and a consensus price target of $145.77.

Insider Transactions at Wintrust Financial

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

Wintrust Financial 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.