Texas Permanent School Fund Corp Trims Stake in Wintrust Financial Co. (NASDAQ:WTFC)

Texas Permanent School Fund Corp lessened its holdings in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 6.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,361 shares of the bank’s stock after selling 3,232 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Wintrust Financial were worth $4,964,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in WTFC. Vanguard Group Inc. increased its holdings in Wintrust Financial by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock valued at $673,603,000 after purchasing an additional 244,168 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Wintrust Financial by 5.9% during the fourth quarter. Clearbridge Investments LLC now owns 258,610 shares of the bank’s stock worth $23,986,000 after purchasing an additional 14,409 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Wintrust Financial by 13.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 538,489 shares of the bank’s stock worth $49,945,000 after purchasing an additional 65,179 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Wintrust Financial by 157.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 190,416 shares of the bank’s stock worth $19,878,000 after purchasing an additional 116,503 shares during the last quarter. Finally, Alberta Investment Management Corp lifted its position in shares of Wintrust Financial by 61.0% during the fourth quarter. Alberta Investment Management Corp now owns 32,113 shares of the bank’s stock worth $2,978,000 after purchasing an additional 12,165 shares during the last quarter. Hedge funds and other institutional investors own 93.48% of the company’s stock.

Wintrust Financial Price Performance

NASDAQ WTFC opened at $102.59 on Friday. Wintrust Financial Co. has a 12 month low of $71.86 and a 12 month high of $113.68. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $6.34 billion, a PE ratio of 10.61 and a beta of 1.16. The company’s 50 day simple moving average is $103.90 and its 200 day simple moving average is $100.15.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings data on Wednesday, July 17th. The bank reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.10). Wintrust Financial had a net margin of 17.02% and a return on equity of 12.71%. The company had revenue of $591.76 million for the quarter, compared to analyst estimates of $587.33 million. During the same quarter in the prior year, the business earned $2.38 EPS. Wintrust Financial’s revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts forecast that Wintrust Financial Co. will post 10.11 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.75%. Wintrust Financial’s dividend payout ratio is presently 18.61%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods cut shares of Wintrust Financial from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $110.00 to $115.00 in a research report on Friday, July 19th. Jefferies Financial Group cut their target price on shares of Wintrust Financial from $118.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Hovde Group reissued a “market perform” rating and issued a $100.00 target price on shares of Wintrust Financial in a report on Friday, June 21st. Royal Bank of Canada raised their target price on shares of Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Finally, Stephens reissued an “overweight” rating and issued a $115.00 target price on shares of Wintrust Financial in a report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Wintrust Financial presently has an average rating of “Moderate Buy” and a consensus price target of $117.85.

Wintrust Financial 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.