Wintrust Financial Corporation (NASDAQ:WTFC) Short Interest Up 29.6% in August

Key Points

• Wintrust Financial Corporation's short interest increased by 29.6% in August, reaching a total of 1,400,000 shares shorted as of August 31st.
• Institutional investors now hold 93.48% of Wintrust Financial's stock, with several firms significantly increasing their positions during recent quarters.
• Analysts have rated Wintrust Financial with an average target price of $147.31, reflecting multiple upgrades from various investment firms.

Wintrust Financial Corporation (NASDAQ:WTFC - Get Free Report) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 1,400,000 shares, an increase of 29.6% from the August 15th total of 1,080,000 shares. Based on an average daily trading volume, of 412,000 shares, the days-to-cover ratio is currently 3.4 days. Approximately 2.1% of the shares of the stock are short sold. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 412,000 shares, the days-to-cover ratio is currently 3.4 days.

Insider Transactions at Wintrust Financial

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WTFC. Maseco LLP acquired a new position in shares of Wintrust Financial during the second quarter valued at about $25,000. Park Place Capital Corp lifted its position in Wintrust Financial by 1,264.7% in the 1st quarter. Park Place Capital Corp now owns 232 shares of the bank's stock valued at $26,000 after acquiring an additional 215 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in Wintrust Financial during the 1st quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in Wintrust Financial by 52.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 289 shares of the bank's stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Finally, REAP Financial Group LLC raised its stake in shares of Wintrust Financial by 196.0% in the second quarter. REAP Financial Group LLC now owns 296 shares of the bank's stock worth $37,000 after purchasing an additional 196 shares during the last quarter. Institutional investors and hedge funds own 93.48% of the company's stock.

Wall Street Analyst Weigh In

WTFC has been the subject of a number of research reports. DA Davidson increased their price target on Wintrust Financial from $135.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada upped 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. Jefferies Financial Group increased their target price on Wintrust Financial from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Keefe, Bruyette & Woods boosted their price target on Wintrust Financial from $130.00 to $138.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $160.00 price objective (up previously from $141.00) on shares of Wintrust Financial in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Wintrust Financial presently has an average rating of "Moderate Buy" and an average target price of $147.31.

Wintrust Financial Price Performance

WTFC stock opened at $132.76 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01. The company's 50-day moving average is $131.97 and its 200-day moving average is $120.90. The stock has a market capitalization of $8.89 billion, a PE ratio of 12.56 and a beta of 0.87. Wintrust Financial has a 1 year low of $89.10 and a 1 year high of $142.04.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its earnings results on Monday, July 21st. The bank reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.19. The business had revenue of $670.78 million during the quarter, compared to analyst estimates of $661.43 million. Wintrust Financial had a return on equity of 12.08% and a net margin of 18.06%.During the same period in the previous year, the company posted $2.32 EPS. Equities research analysts expect that Wintrust Financial will post 10.36 EPS for the current fiscal 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%.

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.

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