PNC Financial Services Group Inc. Has $533,000 Position in Wintrust Financial Co. (NASDAQ:WTFC)

PNC Financial Services Group Inc. increased its position in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 84.0% during the fourth quarter, HoldingsChannel reports. The fund owned 5,745 shares of the bank’s stock after buying an additional 2,623 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Wintrust Financial were worth $533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Johnson Financial Group Inc. bought a new stake in Wintrust Financial during the 4th quarter worth $25,000. Quent Capital LLC grew its position in Wintrust Financial by 120.8% during the 4th quarter. Quent Capital LLC now owns 351 shares of the bank’s stock worth $33,000 after acquiring an additional 192 shares during the last quarter. GAMMA Investing LLC bought a new stake in Wintrust Financial during the 4th quarter worth $41,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Wintrust Financial in the 4th quarter valued at about $46,000. Finally, Principal Securities Inc. bought a new stake in shares of Wintrust Financial in the 4th quarter valued at about $59,000. Institutional investors own 93.48% of the company’s stock.

Wall Street Analysts Forecast Growth

WTFC has been the topic of a number of analyst reports. Jefferies Financial Group upped their price target on Wintrust Financial from $114.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Stephens reiterated an “overweight” rating and issued a $110.00 price target on shares of Wintrust Financial in a research report on Tuesday, April 16th. Citigroup reduced their price target on Wintrust Financial from $115.00 to $113.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Royal Bank of Canada boosted their price objective on Wintrust Financial from $109.00 to $116.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Finally, Truist Financial dropped their price objective on Wintrust Financial from $117.00 to $112.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $111.38.

Wintrust Financial Stock Down 0.6 %

WTFC stock opened at $95.40 on Thursday. The stock’s 50 day simple moving average is $97.62 and its 200 day simple moving average is $96.79. Wintrust Financial Co. has a fifty-two week low of $68.86 and a fifty-two week high of $105.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.97 and a current ratio of 0.98. The company has a market cap of $5.89 billion, a P/E ratio of 9.87 and a beta of 1.19.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.47. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. The business had revenue of $604.77 million for the quarter, compared to the consensus estimate of $577.80 million. During the same period in the prior year, the business earned $2.80 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts expect that Wintrust Financial Co. will post 10.13 earnings per share for the current fiscal year.

Wintrust Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Wednesday, May 8th. Wintrust Financial’s dividend payout ratio (DPR) is presently 18.61%.

About Wintrust Financial

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.