Charles Schwab Investment Management Inc. Buys 213,559 Shares of Wintrust Financial Co. (NASDAQ:WTFC)

Charles Schwab Investment Management Inc. grew its stake in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 36.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 802,841 shares of the bank’s stock after buying an additional 213,559 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.21% of Wintrust Financial worth $87,132,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Choreo LLC bought a new stake in Wintrust Financial during the 2nd quarter worth $1,115,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Wintrust Financial by 7.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 203,285 shares of the bank’s stock worth $22,063,000 after purchasing an additional 14,699 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Wintrust Financial in the third quarter valued at approximately $499,000. Raymond James & Associates raised its holdings in Wintrust Financial by 2.7% in the 2nd quarter. Raymond James & Associates now owns 207,944 shares of the bank’s stock valued at $20,495,000 after buying an additional 5,563 shares during the last quarter. Finally, Natixis Advisors LLC boosted its position in Wintrust Financial by 25.2% during the 2nd quarter. Natixis Advisors LLC now owns 40,908 shares of the bank’s stock worth $4,032,000 after buying an additional 8,238 shares during the period. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Wintrust Financial Stock Up 0.4 %

Wintrust Financial stock opened at $138.50 on Thursday. The company has a market capitalization of $9.21 billion, a PE ratio of 14.50 and a beta of 1.15. Wintrust Financial Co. has a 12-month low of $82.90 and a 12-month high of $142.04. The firm’s fifty day moving average is $117.33 and its 200 day moving average is $106.79. 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 announced 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). The company had revenue of $615.73 million for the quarter, compared to analyst estimates of $623.45 million. Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. Wintrust Financial’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.53 EPS. As a group, sell-side analysts predict that Wintrust Financial Co. will post 10.12 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 1.30%. Wintrust Financial’s dividend payout ratio (DPR) is presently 18.85%.

Analysts Set New Price Targets

WTFC has been the subject of several recent research reports. Truist Financial upped their price target on shares of Wintrust Financial from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Piper Sandler raised their target price on Wintrust Financial from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Raymond James lifted their target price on Wintrust Financial from $125.00 to $135.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 23rd. DA Davidson increased their price target on Wintrust Financial from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their price objective on 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wintrust Financial has an average rating of “Moderate Buy” and an average price target of $123.00.

Insider Activity

In related news, COO David A. Dykstra sold 15,492 shares of Wintrust Financial stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $115.48, for a total value of $1,789,016.16. Following the completion of the sale, the chief operating officer now owns 197,591 shares of the company’s stock, valued at approximately $22,817,808.68. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David L. Stoehr sold 1,607 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was 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 in the company, 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 sold a total of 21,198 shares of company stock worth $2,445,314 over the last quarter. 1.47% of the stock is currently owned by corporate insiders.

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.