Wintrust Financial Corporation $WTFC Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in Wintrust Financial by 3.0% during the first quarter, now owning 75,511 shares valued at approximately $8.49 million.
• Wintrust Financial reported an EPS of $2.78 for the last quarter, exceeding estimates by $0.19, and a revenue of $670.78 million, surpassing expectations.
• A quarterly dividend of $0.50 per share was announced, representing an annual yield of 1.5%, with a dividend payout ratio of 18.92%.

Rafferty Asset Management LLC reduced its position in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,511 shares of the bank's stock after selling 2,310 shares during the period. Rafferty Asset Management LLC owned approximately 0.11% of Wintrust Financial worth $8,492,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CHICAGO TRUST Co NA raised its holdings in Wintrust Financial by 0.5% in the first quarter. CHICAGO TRUST Co NA now owns 19,896 shares of the bank's stock valued at $2,238,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Wintrust Financial by 0.5% in the first quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the bank's stock worth $2,092,000 after acquiring an additional 100 shares in the last quarter. Securian Asset Management Inc. raised its stake in shares of Wintrust Financial by 2.0% in the 1st quarter. Securian Asset Management Inc. now owns 5,098 shares of the bank's stock valued at $573,000 after acquiring an additional 100 shares during the period. Blair William & Co. IL lifted its holdings in shares of Wintrust Financial by 0.6% during the 1st quarter. Blair William & Co. IL now owns 19,055 shares of the bank's stock valued at $2,143,000 after acquiring an additional 109 shares in the last quarter. Finally, Xponance Inc. boosted its position in Wintrust Financial by 1.6% during the 1st quarter. Xponance Inc. now owns 7,646 shares of the bank's stock worth $860,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 93.48% of the company's stock.

Wintrust Financial Price Performance

WTFC stock opened at $137.71 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. Wintrust Financial Corporation has a 52-week low of $89.10 and a 52-week high of $142.04. The stock's 50 day moving average is $128.87 and its two-hundred day moving average is $120.03. The company has a market capitalization of $9.22 billion, a PE ratio of 13.03 and a beta of 0.85.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last released its 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 company 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 business posted $2.32 EPS. Analysts predict that Wintrust Financial Corporation will post 10.36 earnings per share for the current fiscal year.

Wintrust Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, August 7th. Wintrust Financial's dividend payout ratio (DPR) is currently 18.92%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Truist Financial raised their price objective on Wintrust Financial from $137.00 to $151.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods raised their target price on Wintrust Financial from $130.00 to $138.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. Piper Sandler restated an "overweight" rating and issued a $160.00 price target (up previously from $141.00) on shares of Wintrust Financial in a report on Wednesday, July 23rd. Jefferies Financial Group set a $145.00 price objective on shares of Wintrust Financial and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada boosted their target price on shares of Wintrust Financial from $137.00 to $158.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Wintrust Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $145.77.

Insider Activity

In other news, COO David A. Dykstra sold 14,942 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $131.53, for a total value of $1,965,321.26. Following the sale, the chief operating officer owned 182,208 shares in the company, valued at approximately $23,965,818.24. This represents a 7.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Edward J. Wehmer purchased 3,919 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average price of $26.35 per share, with a total value of $103,265.65. Following the completion of the purchase, the insider directly owned 3,919 shares of the company's stock, valued at approximately $103,265.65. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.01% of the stock is currently 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.

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