Oppenheimer & Co. Inc. Sells 404 Shares of Wintrust Financial Co. (NASDAQ:WTFC)

Oppenheimer & Co. Inc. lowered its position in Wintrust Financial Co. (NASDAQ:WTFC) by 9.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,843 shares of the bank’s stock after selling 404 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Wintrust Financial were worth $417,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Wintrust Financial by 3.9% in the first 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 during the period. Dimensional Fund Advisors LP increased its position in shares of Wintrust Financial by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock worth $297,376,000 after buying an additional 146,090 shares during the period. Capital International Investors raised its stake in Wintrust Financial by 4.6% during the first quarter. Capital International Investors now owns 1,638,085 shares of the bank’s stock worth $171,000,000 after buying an additional 72,082 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Wintrust Financial by 11.3% in the third quarter. Principal Financial Group Inc. now owns 1,308,254 shares of the bank’s stock valued at $141,981,000 after buying an additional 133,311 shares during the period. Finally, Federated Hermes Inc. boosted its position in Wintrust Financial by 1.8% during the second quarter. Federated Hermes Inc. now owns 815,466 shares of the bank’s stock valued at $80,372,000 after acquiring an additional 14,087 shares during the last quarter. Institutional investors own 93.48% of the company’s stock.

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 transaction of $473,967.37. Following the sale, the insider now directly owns 42,311 shares in the company, valued at $4,892,420.93. The trade was a 8.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David L. Stoehr sold 1,607 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $113.46, for a total transaction of $182,330.22. Following the transaction, the chief financial officer now owns 14,874 shares of the company’s stock, valued at approximately $1,687,604.04. The trade was a 9.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,198 shares of company stock valued at $2,445,314 in the last 90 days. 1.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WTFC shares. Piper Sandler lifted their price objective on Wintrust Financial from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Truist Financial lifted their target price on Wintrust Financial from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $130.00 price target on shares of Wintrust Financial in a report on Tuesday, October 22nd. Raymond James lifted their price objective 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. Finally, Citigroup increased their target price 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. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wintrust Financial currently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Wintrust Financial Stock Up 2.2 %

Shares of NASDAQ:WTFC opened at $133.68 on Friday. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 14.00 and a beta of 1.15. The business’s 50 day moving average is $115.46 and its 200 day moving average is $105.94. Wintrust Financial Co. has a 12-month low of $82.90 and a 12-month high of $136.08. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.73.

Wintrust Financial (NASDAQ:WTFC) last posted 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 firm had revenue of $615.73 million during the quarter, compared to the consensus estimate of $623.45 million. During the same quarter in the previous year, the company earned $2.53 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts forecast that Wintrust Financial Co. will post 10.12 earnings per share for the current fiscal year.

Wintrust Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th will be paid a $0.45 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.80 annualized dividend and a yield of 1.35%. Wintrust Financial’s dividend payout ratio (DPR) is 18.85%.

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.