nVerses Capital LLC Trims Holdings in Wintrust Financial Co. (NASDAQ:WTFC)

nVerses Capital LLC decreased its stake in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 5.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,600 shares of the bank’s stock after selling 100 shares during the quarter. nVerses Capital LLC’s holdings in Wintrust Financial were worth $174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WTFC. Vanguard Group Inc. raised its position in Wintrust Financial by 3.9% in the first 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 during the period. Dimensional Fund Advisors LP raised its position in Wintrust Financial by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock valued at $297,376,000 after purchasing an additional 146,090 shares during the period. F M Investments LLC purchased a new stake in Wintrust Financial in the second quarter valued at $11,850,000. Allspring Global Investments Holdings LLC raised its position in Wintrust Financial by 157.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 190,416 shares of the bank’s stock valued at $19,878,000 after purchasing an additional 116,503 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. raised its position in Wintrust Financial by 15.5% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 630,824 shares of the bank’s stock valued at $62,174,000 after purchasing an additional 84,687 shares during the period. Hedge funds and other institutional investors own 93.48% of the company’s stock.

Wintrust Financial Trading Down 1.4 %

NASDAQ:WTFC opened at $115.37 on Friday. The stock has a 50-day simple moving average of $106.20 and a 200-day simple moving average of $101.87. The stock has a market cap of $7.12 billion, a P/E ratio of 11.93 and a beta of 1.16. Wintrust Financial Co. has a 1 year low of $71.86 and a 1 year high of $117.77. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 0.99.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings data 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 analyst estimates of $587.33 million. During the same period in the prior year, the company posted $2.38 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. As a group, analysts anticipate that Wintrust Financial Co. will post 10.11 earnings per share for the current fiscal year.

Wintrust Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Thursday, August 8th. Wintrust Financial’s payout ratio is currently 18.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WTFC shares. Keefe, Bruyette & Woods downgraded Wintrust Financial from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $110.00 to $115.00 in a research report on Friday, July 19th. Royal Bank of Canada lifted their price objective on Wintrust Financial from $116.00 to $117.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Piper Sandler lifted their price objective on Wintrust Financial from $113.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Truist Financial lifted their price objective on Wintrust Financial from $118.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Finally, Wedbush lifted their price objective on Wintrust Financial from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wintrust Financial currently has an average rating of “Moderate Buy” and an average price target of $118.23.

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.