Park Avenue Securities LLC Boosts Stock Position in Wintrust Financial Co. (NASDAQ:WTFC)

Park Avenue Securities LLC increased its holdings in Wintrust Financial Co. (NASDAQ:WTFC) by 17.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,620 shares of the bank’s stock after purchasing an additional 998 shares during the quarter. Park Avenue Securities LLC’s holdings in Wintrust Financial were worth $691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Treasurer of the State of North Carolina increased its stake in shares of Wintrust Financial by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 26,713 shares of the bank’s stock valued at $2,017,000 after buying an additional 140 shares during the period. Quent Capital LLC raised its holdings in Wintrust Financial by 120.8% in the 4th quarter. Quent Capital LLC now owns 351 shares of the bank’s stock worth $33,000 after purchasing an additional 192 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Wintrust Financial by 24.5% in the 4th quarter. Blue Trust Inc. now owns 1,026 shares of the bank’s stock worth $95,000 after purchasing an additional 202 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Wintrust Financial by 6.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,011 shares of the bank’s stock valued at $372,000 after purchasing an additional 232 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Wintrust Financial by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 76,696 shares of the bank’s stock valued at $7,114,000 after buying an additional 265 shares during the period. Hedge funds and other institutional investors own 93.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Citigroup cut their price objective 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. StockNews.com raised Wintrust Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Hovde Group reaffirmed a “market perform” rating and issued a $100.00 target price on shares of Wintrust Financial in a research report on Friday, June 21st. Jefferies Financial Group lifted their price target on shares of Wintrust Financial from $114.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Truist Financial cut their price objective on shares of Wintrust Financial from $117.00 to $112.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.38.

Wintrust Financial Stock Up 0.3 %

WTFC stock opened at $95.70 on Friday. The stock has a market capitalization of $5.91 billion, a P/E ratio of 9.90 and a beta of 1.19. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.98 and a quick ratio of 0.97. Wintrust Financial Co. has a 1-year low of $70.11 and a 1-year high of $105.29. The business has a fifty day moving average price of $97.63 and a 200-day moving average price of $96.78.

Wintrust Financial (NASDAQ:WTFC) last issued its 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. The business had revenue of $604.77 million during the quarter, compared to analyst estimates of $577.80 million. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. Wintrust Financial’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.80 EPS. Equities analysts forecast that Wintrust Financial Co. will post 10.13 earnings per share for the current fiscal year.

Wintrust Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.88%. The ex-dividend date was Wednesday, May 8th. Wintrust Financial’s dividend payout ratio is currently 18.61%.

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.