Royal Bank of Canada Sells 30,885 Shares of Wintrust Financial Corporation $WTFC

Royal Bank of Canada lowered its stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 14.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 176,679 shares of the bank's stock after selling 30,885 shares during the period. Royal Bank of Canada owned approximately 0.26% of Wintrust Financial worth $19,869,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Earnest Partners LLC raised its stake in Wintrust Financial by 7.4% during the 1st quarter. Earnest Partners LLC now owns 1,410,773 shares of the bank's stock worth $158,656,000 after acquiring an additional 97,587 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. raised its position in Wintrust Financial by 30.7% during the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 24,042 shares of the bank's stock worth $2,704,000 after acquiring an additional 5,650 shares during the last quarter. Comerica Bank raised its position in shares of Wintrust Financial by 13.2% in the first quarter. Comerica Bank now owns 63,733 shares of the bank's stock valued at $7,167,000 after buying an additional 7,440 shares during the last quarter. Walleye Trading LLC purchased a new stake in Wintrust Financial in the first quarter valued at approximately $212,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Wintrust Financial in the first quarter valued at approximately $2,225,000. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Edward J. Wehmer purchased 3,919 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average cost of $26.35 per share, with a total value of $103,265.65. Following the acquisition, the insider owned 3,919 shares of the company's stock, valued at $103,265.65. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO David A. Dykstra sold 14,942 shares of the business's stock in a transaction that occurred on 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 transaction, the chief operating officer directly owned 182,208 shares of the company's stock, valued at approximately $23,965,818.24. This represents a 7.58% decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.

Wintrust Financial Stock Down 0.7%

WTFC traded down $0.90 during trading on Wednesday, reaching $137.01. The company had a trading volume of 477,081 shares, compared to its average volume of 354,060. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01. Wintrust Financial Corporation has a 12 month low of $89.10 and a 12 month high of $142.04. The company has a market cap of $9.17 billion, a P/E ratio of 12.96 and a beta of 0.87. The business's fifty day moving average price is $131.75 and its 200 day moving average price is $120.61.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The bank reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.19. The firm had revenue of $670.78 million during the quarter, compared to the consensus estimate of $661.43 million. Wintrust Financial had a net margin of 18.06% and a return on equity of 12.08%. During the same period last year, the business posted $2.32 earnings per share. Equities analysts anticipate that Wintrust Financial Corporation will post 10.36 EPS 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 given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.00 annualized dividend and a yield of 1.5%. Wintrust Financial's dividend payout ratio (DPR) is presently 18.92%.

Analyst Ratings Changes

A number of research analysts have commented on WTFC shares. DA Davidson increased their price objective on shares of Wintrust Financial from $135.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Truist Financial raised their target price on shares of Wintrust Financial from $137.00 to $151.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Piper Sandler restated an "overweight" rating and set a $160.00 price target (up previously from $141.00) on shares of Wintrust Financial in a report on Wednesday, July 23rd. Royal Bank Of Canada upped their price objective on shares of Wintrust Financial from $137.00 to $158.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Barclays reissued an "overweight" rating and issued a $162.00 target price (up from $145.00) on shares of Wintrust Financial in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $147.31.

Wintrust Financial Company 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.