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

Royal Bank of Canada reduced its position in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 about 0.26% of Wintrust Financial worth $19,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in shares of Wintrust Financial in the first quarter valued at about $47,769,000. Jennison Associates LLC raised its holdings in Wintrust Financial by 53.3% in the first quarter. Jennison Associates LLC now owns 807,390 shares of the bank's stock valued at $90,799,000 after acquiring an additional 280,568 shares in the last quarter. GAMMA Investing LLC raised its holdings in Wintrust Financial by 21,245.9% during the first quarter. GAMMA Investing LLC now owns 268,105 shares of the bank's stock worth $30,151,000 after purchasing an additional 266,849 shares in the last quarter. Northern Trust Corp raised its holdings in Wintrust Financial by 20.2% during the first quarter. Northern Trust Corp now owns 852,583 shares of the bank's stock worth $95,881,000 after purchasing an additional 143,401 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Wintrust Financial by 43.3% during the first quarter. Envestnet Asset Management Inc. now owns 349,983 shares of the bank's stock worth $39,359,000 after purchasing an additional 105,754 shares in the last quarter. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Wintrust Financial

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

Wall Street Analyst Weigh In

Several brokerages have commented on WTFC. Jefferies Financial Group boosted their target price on shares of Wintrust Financial from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Barclays reissued an "overweight" rating and set a $162.00 price target (up previously from $145.00) on shares of Wintrust Financial in a research report on Tuesday, July 8th. Piper Sandler reiterated an "overweight" rating and issued a $160.00 target price (up from $141.00) on shares of Wintrust Financial in a research note on Wednesday, July 23rd. Royal Bank Of Canada lifted their target price on Wintrust Financial from $137.00 to $158.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on Wintrust Financial from $130.00 to $138.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $147.31.

Wintrust Financial Trading Down 0.4%

NASDAQ WTFC traded down $0.51 on Friday, reaching $135.58. The company had a trading volume of 292,841 shares, compared to its average volume of 367,155. The stock's 50 day moving average is $131.91 and its 200-day moving average is $120.76. Wintrust Financial Corporation has a 52 week low of $89.10 and a 52 week high of $142.04. 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 stock has a market cap of $9.08 billion, a price-to-earnings ratio of 12.83 and a beta of 0.87.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $661.43 million. During the same period last year, the firm posted $2.32 earnings per share. Equities analysts predict that Wintrust Financial Corporation will post 10.36 earnings per share for the current year.

Wintrust Financial Dividend Announcement

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

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.