Wintrust Financial Corporation $WTFC Stock Holdings Cut by Artemis Investment Management LLP

Key Points

• Artemis Investment Management cut its Wintrust Financial stake by 7.4% in the third quarter, selling 51,667 shares and retaining 644,295 shares valued at approximately $91.4 million. Institutional investors collectively own 93.48% of the company.
• Wintrust reported quarterly EPS of $3.30, exceeding estimates of $3.15, while revenue rose 10.1% year over year to $738.63 million. The company also pays a $0.55 quarterly dividend, equivalent to a 1.5% annual yield.
• Analysts maintain a “Moderate Buy” consensus, with nine Buy ratings and five Holds and an average price target of $176.29; WTFC recently traded at $143.87.

Artemis Investment Management LLP reduced its position in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 7.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 644,295 shares of the bank's stock after selling 51,667 shares during the quarter. Artemis Investment Management LLP owned 0.95% of Wintrust Financial worth $91,374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Wintrust Financial in the second quarter worth approximately $27,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Wintrust Financial during the second quarter valued at approximately $36,000. Measured Wealth Private Client Group LLC bought a new position in Wintrust Financial in the first quarter worth approximately $35,000. Transamerica Financial Advisors LLC bought a new position in Wintrust Financial in the second quarter worth approximately $42,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of Wintrust Financial during the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 93.48% of the company's stock.

Wintrust Financial Price Performance

WTFC stock traded up $1.38 during midday trading on Thursday, hitting $143.87. The company's stock had a trading volume of 158,789 shares, compared to its average volume of 512,407. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. Wintrust Financial Corporation has a 12 month low of $119.61 and a 12 month high of $167.21. The company has a 50 day moving average of $152.30 and a two-hundred day moving average of $151.79. The firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of 11.53 and a beta of 0.89.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last released its quarterly earnings data on Monday, July 20th. The bank reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.15. Wintrust Financial had a net margin of 20.72% and a return on equity of 13.37%. The firm had revenue of $738.63 million for the quarter, compared to analysts' expectations of $735.36 million. During the same quarter last year, the business posted $2.78 earnings per share. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. On average, analysts expect that Wintrust Financial Corporation will post 13.12 EPS for the current year.

Wintrust Financial Dividend Announcement

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

Insider Activity

In other news, COO David Dykstra sold 13,515 shares of Wintrust Financial stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $162.77, for a total value of $2,199,836.55. Following the sale, the chief operating officer directly owned 166,449 shares of the company's stock, valued at approximately $27,092,903.73. The trade was a 7.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. TD Cowen lowered their target price on Wintrust Financial from $183.00 to $173.00 and set a "buy" rating on the stock in a research report on Monday. Wells Fargo & Company began coverage on Wintrust Financial in a research note on Thursday, September 24th. They set an "equal weight" rating and a $160.00 price objective for the company. UBS Group reissued a "neutral" rating and issued a $170.00 target price on shares of Wintrust Financial in a report on Tuesday, July 7th. Raymond James Financial assumed coverage on shares of Wintrust Financial in a research report on Tuesday, July 7th. They issued an "outperform" rating and a $180.00 price target for the company. Finally, Brean Capital cut shares of Wintrust Financial from a "buy" rating to a "neutral" rating and set a $170.00 price objective for the company. in a research note on Tuesday, July 21st. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $176.29.

About Wintrust Financial

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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