Wintrust Financial Corporation $WTFC Stock Acquired by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its Wintrust Financial stake by 8.2% in the third quarter, acquiring 8,873 additional shares for a total holding worth approximately $16.6 million. Institutional investors collectively own 93.48% of the company.
• Wintrust reported quarterly earnings of $3.30 per share, exceeding the $3.15 consensus estimate, while revenue rose 10.1% year over year to $738.63 million. The company also pays a quarterly dividend of $0.55, equivalent to a 1.5% yield.
• Analyst sentiment remains favorable, with nine Buy ratings and five Hold ratings, producing a Moderate Buy consensus and an average price target of $176.29 versus the reported share price of $144.94.

Congress Asset Management Co. lifted its stake in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 8.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,250 shares of the bank's stock after buying an additional 8,873 shares during the quarter. Congress Asset Management Co. owned approximately 0.17% of Wintrust Financial worth $16,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Wintrust Financial in the 2nd quarter valued at $27,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Wintrust Financial in the first quarter worth about $35,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Wintrust Financial in the second quarter worth about $36,000. Leonteq Securities AG purchased a new stake in shares of Wintrust Financial in the first quarter worth about $40,000. Finally, Transamerica Financial Advisors LLC bought a new position in Wintrust Financial during the second quarter valued at approximately $42,000. Institutional investors own 93.48% of the company's stock.

Insider Transactions at Wintrust Financial

In other Wintrust Financial news, COO David Dykstra sold 13,515 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $162.77, for a total transaction of $2,199,836.55. Following the completion of the transaction, the chief operating officer owned 166,449 shares in the company, valued at $27,092,903.73. The trade was a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.24% of the stock is currently owned by insiders.

Wintrust Financial Stock Performance

NASDAQ WTFC opened at $144.94 on Wednesday. The business's 50 day moving average price is $152.64 and its 200-day moving average price is $151.73. Wintrust Financial Corporation has a fifty-two week low of $119.61 and a fifty-two week high of $167.21. The company has a market cap of $9.78 billion, a P/E ratio of 11.64 and a beta of 0.89. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 0.98.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings results on Monday, July 20th. The bank reported $3.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.15 by $0.15. Wintrust Financial had a return on equity of 13.37% and a net margin of 20.72%.The company had revenue of $738.63 million during the quarter, compared to the consensus estimate of $735.36 million. During the same period last year, the company earned $2.78 earnings per share. Wintrust Financial's revenue was up 10.1% on a year-over-year basis. Sell-side analysts predict that Wintrust Financial Corporation will post 13.07 earnings per share for the current year.

Wintrust Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, August 6th. Wintrust Financial's dividend payout ratio is 17.67%.

Wall Street Analyst Weigh In

WTFC has been the subject of several research analyst reports. Wall Street Zen upgraded Wintrust Financial from a "sell" rating to a "hold" rating in a report on Saturday, September 26th. Truist Financial upped their price objective on Wintrust Financial from $170.00 to $183.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Wells Fargo & Company started coverage on shares of Wintrust Financial in a report on Thursday, September 24th. They issued an "equal weight" rating and a $160.00 target price for the company. UBS Group restated a "neutral" rating and issued a $170.00 price target on shares of Wintrust Financial in a research report on Tuesday, July 7th. Finally, TD Cowen decreased their price target on shares of Wintrust Financial from $183.00 to $173.00 and set a "buy" rating on the stock in a research note on Monday. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Wintrust Financial has an average rating of "Moderate Buy" and a consensus target price of $176.29.

Wintrust Financial Company Profile

Wintrust Financial Corporation NASDAQ: WTFC is a financial holding company headquartered in Rosemont, Illinois. Founded in 1991, the company operates a network of community banks serving individuals, families and businesses primarily in the Chicago metropolitan area, southern Wisconsin and northwest Indiana.

Wintrust's banking subsidiaries provide deposit accounts, commercial and consumer lending, residential mortgages, treasury management, trust and investment services, and other traditional banking products.

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