Wintrust Financial Corporation $WTFC Shares Sold by Oliver Luxxe Assets LLC

Key Points

• Oliver Luxxe Assets LLC reduced its Wintrust Financial stake by 46.7% in the second quarter, selling 9,950 shares and retaining 11,375 shares valued at approximately $1.83 million. Institutional investors and hedge funds collectively own 93.48% of the stock.
• Analysts remain broadly positive, with nine Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $177.77.
• Wintrust exceeded second-quarter expectations, reporting $3.30 EPS and $738.63 million in revenue, up 10.1% year over year. The company also declared a quarterly dividend of $0.55 per share, representing a 1.4% yield.

Oliver Luxxe Assets LLC cut its holdings in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 46.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,375 shares of the bank's stock after selling 9,950 shares during the period. Oliver Luxxe Assets LLC's holdings in Wintrust Financial were worth $1,828,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Advisors Asset Management Inc. acquired a new position in Wintrust Financial in the first quarter valued at $27,000. Elyxium Wealth LLC acquired a new stake in shares of Wintrust Financial during the fourth quarter worth about $31,000. Creative Financial Designs Inc. ADV increased its position in Wintrust Financial by 231.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank's stock valued at $32,000 after acquiring an additional 160 shares during the period. Harbour Investments Inc. raised its stake in Wintrust Financial by 72.7% during the 4th quarter. Harbour Investments Inc. now owns 240 shares of the bank's stock valued at $34,000 after acquiring an additional 101 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Wintrust Financial during the 1st quarter valued at approximately $35,000. 93.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Piper Sandler set a $186.00 target price on Wintrust Financial in a report on Wednesday, July 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Wintrust Financial in a research report on Monday, June 29th. TD Cowen reduced their price target on Wintrust Financial from $184.00 to $183.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. DA Davidson lifted their price target on Wintrust Financial from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Finally, Truist Financial lifted their price target on Wintrust Financial from $170.00 to $183.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $177.77.

Wintrust Financial Price Performance

WTFC stock opened at $158.75 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. The company's 50-day moving average price is $158.58 and its 200 day moving average price is $150.55. Wintrust Financial Corporation has a 52 week low of $119.61 and a 52 week high of $167.21. The company has a market cap of $10.71 billion, a P/E ratio of 12.75 and a beta of 0.85.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its earnings results on Monday, July 20th. The bank reported $3.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.15 by $0.15. Wintrust Financial had a net margin of 20.72% and a return on equity of 13.37%. The company had revenue of $738.63 million during the quarter, compared to analysts' expectations of $735.36 million. During the same period last year, the company posted $2.78 earnings per share. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. On average, research analysts expect that Wintrust Financial Corporation will post 13.04 earnings per share for the current fiscal year.

Wintrust Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.4%. The ex-dividend date is Thursday, August 6th. Wintrust Financial's dividend payout ratio (DPR) is 17.67%.

Wintrust Financial 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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