Covestor Ltd Raises Holdings in Wintrust Financial Co. (NASDAQ:WTFC)

Covestor Ltd increased its position in Wintrust Financial Co. (NASDAQ:WTFC) by 77.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 653 shares of the bank’s stock after buying an additional 286 shares during the period. Covestor Ltd’s holdings in Wintrust Financial were worth $71,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WTFC. Vanguard Group Inc. raised its holdings in shares of Wintrust Financial by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock worth $673,603,000 after acquiring an additional 244,168 shares in the last quarter. Capital International Investors lifted its position in Wintrust Financial by 4.6% during the first quarter. Capital International Investors now owns 1,638,085 shares of the bank’s stock valued at $171,000,000 after purchasing an additional 72,082 shares during the last quarter. Choreo LLC bought a new stake in shares of Wintrust Financial in the 2nd quarter worth about $1,115,000. Allspring Global Investments Holdings LLC raised its position in shares of Wintrust Financial by 7.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,285 shares of the bank’s stock valued at $22,063,000 after buying an additional 14,699 shares in the last quarter. Finally, Raymond James & Associates grew its position in Wintrust Financial by 2.7% in the second quarter. Raymond James & Associates now owns 207,944 shares of the bank’s stock worth $20,495,000 after acquiring an additional 5,563 shares in the last quarter. 93.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on WTFC. Stephens reiterated an “overweight” rating and issued a $115.00 target price on shares of Wintrust Financial in a report on Thursday, July 18th. Raymond James increased their target price on shares of Wintrust Financial from $125.00 to $135.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price target on shares of Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. DA Davidson increased their price objective on shares of Wintrust Financial from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler boosted 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. 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Wintrust Financial Price Performance

Shares of WTFC stock opened at $132.62 on Thursday. Wintrust Financial Co. has a twelve month low of $79.85 and a twelve month high of $136.08. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.73. The stock has a fifty day simple moving average of $112.11 and a two-hundred day simple moving average of $104.60. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 13.89 and a beta of 1.15.

Wintrust Financial (NASDAQ:WTFC) last issued its earnings results on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) 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 the consensus estimate of $623.45 million. During the same quarter in the previous year, the company earned $2.53 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. On average, analysts predict that Wintrust Financial Co. will post 10.12 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 7th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, November 7th. Wintrust Financial’s dividend payout ratio (DPR) is 18.85%.

Insiders Place Their Bets

In other news, insider Richard B. Murphy sold 4,099 shares of Wintrust Financial stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $115.63, for a total value of $473,967.37. Following the transaction, the insider now directly owns 42,311 shares in the company, valued at approximately $4,892,420.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Wintrust Financial news, insider Richard B. Murphy sold 4,099 shares of Wintrust Financial stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $115.63, for a total value of $473,967.37. Following the transaction, the insider now owns 42,311 shares in the company, valued at $4,892,420.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David A. Dykstra sold 15,492 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $115.48, for a total transaction of $1,789,016.16. Following the sale, the chief operating officer now directly owns 197,591 shares of the company’s stock, valued at approximately $22,817,808.68. The trade was 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 over the last 90 days. Company insiders own 1.47% of the company’s stock.

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.