Granite Investment Partners LLC Lowers Stock Position in Wintrust Financial Co. (NASDAQ:WTFC)

Granite Investment Partners LLC cut its stake in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 11.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 282,324 shares of the bank’s stock after selling 35,231 shares during the period. Wintrust Financial accounts for approximately 1.2% of Granite Investment Partners LLC’s holdings, making the stock its 17th biggest holding. Granite Investment Partners LLC’s holdings in Wintrust Financial were worth $27,826,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Johnson Financial Group Inc. purchased a new stake in Wintrust Financial during the 4th quarter worth $25,000. Concord Wealth Partners acquired a new position in Wintrust Financial in the 1st quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in Wintrust Financial in the 1st quarter worth $27,000. Versant Capital Management Inc lifted its holdings in Wintrust Financial by 825.0% in the 2nd quarter. Versant Capital Management Inc now owns 296 shares of the bank’s stock worth $29,000 after buying an additional 264 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. lifted its holdings in Wintrust Financial by 70.0% in the 1st quarter. DHJJ Financial Advisors Ltd. now owns 488 shares of the bank’s stock worth $51,000 after buying an additional 201 shares in the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

Wintrust Financial Trading Up 2.2 %

Wintrust Financial stock opened at $110.20 on Friday. The stock has a market capitalization of $6.81 billion, a PE ratio of 11.40 and a beta of 1.16. 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 50 day simple moving average of $104.62 and a 200-day simple moving average of $100.45.

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

Wintrust Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a $0.45 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 1.63%. Wintrust Financial’s payout ratio is 18.61%.

Analysts Set New Price Targets

WTFC has been the topic of a number of recent analyst reports. Wedbush boosted their price objective on shares of Wintrust Financial from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Hovde Group restated a “market perform” rating and issued a $100.00 target price on shares of Wintrust Financial in a research note on Friday, June 21st. Royal Bank of Canada upped their target price on shares of Wintrust Financial from $116.00 to $117.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. 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 research note on Wednesday, July 3rd. Finally, Piper Sandler upped their target price on shares of Wintrust Financial from $113.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.85.

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.