abrdn plc Increases Holdings in Wintrust Financial Co. (NASDAQ:WTFC)

abrdn plc raised its stake in Wintrust Financial Co. (NASDAQ:WTFC) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,315 shares of the bank’s stock after purchasing an additional 418 shares during the quarter. abrdn plc owned about 0.47% of Wintrust Financial worth $34,113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in shares of Wintrust Financial by 1.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 28,490 shares of the bank’s stock valued at $3,092,000 after buying an additional 315 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Wintrust Financial by 16.7% during the third quarter. State of Alaska Department of Revenue now owns 7,718 shares of the bank’s stock valued at $837,000 after purchasing an additional 1,105 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Wintrust Financial by 5.1% during the third quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the bank’s stock worth $1,997,000 after purchasing an additional 900 shares in the last quarter. West Michigan Advisors LLC purchased a new position in shares of Wintrust Financial in the third quarter valued at $247,000. Finally, International Assets Investment Management LLC acquired a new stake in Wintrust Financial during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 93.48% of the company’s stock.

Wintrust Financial Stock Up 1.6 %

WTFC stock opened at $117.56 on Thursday. The firm has a fifty day moving average price of $108.57 and a two-hundred day moving average price of $102.72. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 1.01. Wintrust Financial Co. has a 1-year low of $73.37 and a 1-year high of $118.69. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 12.31 and a beta of 1.16.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings data on Monday, October 21st. The bank reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.03). Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The business had revenue of $615.73 million for the quarter, compared to analyst estimates of $623.45 million. During the same quarter last year, the company earned $2.53 EPS. Wintrust Financial’s revenue was up 7.1% compared to the same quarter last year. Research analysts predict that Wintrust Financial Co. will post 10.13 EPS for the current year.

Wintrust Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 1.53%. Wintrust Financial’s dividend payout ratio is currently 18.85%.

Insider Buying and Selling

In other Wintrust Financial news, CFO David L. Stoehr sold 1,607 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $113.46, for a total value of $182,330.22. Following the sale, the chief financial officer now directly owns 14,874 shares in the company, valued at approximately $1,687,604.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Richard B. Murphy sold 4,099 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $115.63, for a total transaction of $473,967.37. Following the completion of the transaction, the insider now directly owns 42,311 shares in the company, valued at approximately $4,892,420.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David L. Stoehr sold 1,607 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $113.46, for a total value of $182,330.22. Following the completion of the transaction, the chief financial officer now directly owns 14,874 shares of the company’s stock, valued at $1,687,604.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,198 shares of company stock worth $2,445,314 in the last three months. 1.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WTFC. Royal Bank of Canada raised their target price on Wintrust Financial from $116.00 to $117.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Stephens restated an “overweight” rating and set a $115.00 price objective on shares of Wintrust Financial in a report on Thursday, July 18th. Piper Sandler upped their target price on Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Truist Financial raised their price target on shares of Wintrust Financial from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $130.00 price target on shares of Wintrust Financial in a report on Tuesday, October 22nd. Three research 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 stock. Based on data from MarketBeat.com, Wintrust Financial currently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

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.