Park Avenue Securities LLC Sells 1,534 Shares of Wintrust Financial Co. (NASDAQ:WTFC)

Park Avenue Securities LLC trimmed its holdings in Wintrust Financial Co. (NASDAQ:WTFC) by 21.9% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,460 shares of the bank’s stock after selling 1,534 shares during the quarter. Park Avenue Securities LLC’s holdings in Wintrust Financial were worth $593,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of WTFC. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Wintrust Financial by 11.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 866 shares of the bank’s stock valued at $85,000 after acquiring an additional 91 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in Wintrust Financial by 1.4% during the second quarter. Concurrent Investment Advisors LLC now owns 10,304 shares of the bank’s stock valued at $1,016,000 after purchasing an additional 145 shares during the period. Inspire Investing LLC grew its position in Wintrust Financial by 4.4% in the 2nd quarter. Inspire Investing LLC now owns 3,574 shares of the bank’s stock worth $352,000 after purchasing an additional 151 shares during the period. Oliver Luxxe Assets LLC grew its position in Wintrust Financial by 1.7% in the 1st quarter. Oliver Luxxe Assets LLC now owns 9,290 shares of the bank’s stock worth $970,000 after purchasing an additional 157 shares during the period. Finally, Access Investment Management LLC raised its stake in Wintrust Financial by 1.0% during the 2nd quarter. Access Investment Management LLC now owns 17,700 shares of the bank’s stock valued at $1,745,000 after buying an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 93.48% of the company’s stock.

Wintrust Financial Trading Up 3.9 %

Shares of WTFC stock opened at $111.00 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day simple moving average of $104.50 and a two-hundred day simple moving average of $101.49. The firm has a market capitalization of $7.38 billion, a PE ratio of 11.55 and a beta of 1.16. Wintrust Financial Co. has a 52-week low of $71.86 and a 52-week high of $113.68.

Wintrust Financial (NASDAQ:WTFC) last released its earnings results on Wednesday, July 17th. The bank reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.10). Wintrust Financial had a return on equity of 12.71% and a net margin of 17.02%. The business had revenue of $591.76 million for the quarter, compared to analysts’ expectations of $587.33 million. During the same quarter in the prior year, the business posted $2.38 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts predict that Wintrust Financial Co. will post 10.09 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Thursday, August 8th. Wintrust Financial’s payout ratio is currently 18.73%.

Analyst Upgrades and Downgrades

Several analysts recently commented on WTFC shares. Royal Bank of Canada lifted their price objective on Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Jefferies Financial Group cut their price target on Wintrust Financial from $118.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Stephens reiterated an “overweight” rating and issued a $115.00 price objective on shares of Wintrust Financial in a research note on Thursday, July 18th. Truist Financial boosted their target price on shares of Wintrust Financial from $118.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, DA Davidson increased their price target on shares of Wintrust Financial from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Wintrust Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.23.

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.