Wintrust Financial Corporation (NASDAQ:WTFC) Short Interest Up 458.4% in July

Key Points

• Short interest in Wintrust Financial Corporation surged 458.4% in July, reaching 1,850,000 shares as of July 15th, compared to 331,300 shares at the end of June.
• The company's stock is currently down 3.1% and has a market capitalization of $8.30 billion, with a twelve-month price range of $89.10 to $142.04.
• Wintrust Financial announced a quarterly dividend of $0.50 per share, representing an annualized dividend of $2.00, and has a payout ratio of 18.92%.

Wintrust Financial Corporation (NASDAQ:WTFC - Get Free Report) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 1,850,000 shares, anincreaseof458.4% from the June 30th total of 331,300 shares. Based on an average daily volume of 402,600 shares, the days-to-cover ratio is presently 4.6 days. Based on an average daily volume of 402,600 shares, the days-to-cover ratio is presently 4.6 days.

Wintrust Financial Stock Down 3.1%

NASDAQ:WTFC opened at $124.02 on Friday. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 11.73 and a beta of 0.85. Wintrust Financial has a twelve month low of $89.10 and a twelve month high of $142.04. The stock's 50 day moving average price is $125.81 and its two-hundred day moving average price is $120.48. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The bank reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.19. The firm had revenue of $670.78 million for 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 quarter in the previous year, the firm earned $2.32 EPS. Equities research analysts expect that Wintrust Financial will post 10.36 earnings per share for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Thursday, August 7th. Wintrust Financial's payout ratio is currently 18.92%.

Analysts Set New Price Targets

WTFC has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their target price on Wintrust Financial from $137.00 to $158.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Stephens dropped their target price on Wintrust Financial from $145.00 to $132.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen raised Wintrust Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Piper Sandler reissued an "overweight" rating and issued a $160.00 target price (up previously from $141.00) on shares of Wintrust Financial in a research report on Wednesday, July 23rd. Finally, Jefferies Financial Group set a $145.00 target price on Wintrust Financial and gave the company a "buy" rating in a research report on Wednesday, May 21st. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $145.77.

Insider Transactions at Wintrust Financial

In other news, COO David A. Dykstra sold 14,942 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $131.53, for a total transaction of $1,965,321.26. Following the sale, the chief operating officer 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 document filed with the SEC, which is available through this hyperlink. Also, insider Edward J. Wehmer purchased 3,919 shares of the company's stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $26.35 per share, for a total transaction of $103,265.65. Following the transaction, the insider owned 3,919 shares of the company's stock, valued at $103,265.65. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.01% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WTFC. LPL Financial LLC boosted its stake in shares of Wintrust Financial by 29.3% during the 4th quarter. LPL Financial LLC now owns 15,980 shares of the bank's stock worth $1,993,000 after acquiring an additional 3,622 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of Wintrust Financial by 10.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 9,364 shares of the bank's stock worth $1,168,000 after acquiring an additional 850 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Wintrust Financial by 15.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,537 shares of the bank's stock worth $441,000 after acquiring an additional 466 shares during the period. Franklin Resources Inc. bought a new position in shares of Wintrust Financial during the 4th quarter worth approximately $252,000. Finally, Geode Capital Management LLC boosted its stake in shares of Wintrust Financial by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,165,898 shares of the bank's stock worth $145,443,000 after acquiring an additional 10,172 shares during the period. 93.48% of the stock is currently owned by institutional investors.

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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