Wintrust Financial Co. (NASDAQ:WTFC) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,020 shares of the bank’s stock after purchasing an additional 2,187 shares during the period. The Manufacturers Life Insurance Company’s holdings in Wintrust Financial were worth $5,971,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Wintrust Financial by 36.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 802,841 shares of the bank’s stock worth $87,132,000 after purchasing an additional 213,559 shares during the period. Choreo LLC purchased a new stake in Wintrust Financial during the 2nd quarter worth $1,115,000. Allspring Global Investments Holdings LLC increased its holdings in Wintrust Financial by 7.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,285 shares of the bank’s stock valued at $22,063,000 after purchasing an additional 14,699 shares in the last quarter. Westfield Capital Management Co. LP raised its position in Wintrust Financial by 13.8% in the third quarter. Westfield Capital Management Co. LP now owns 237,311 shares of the bank’s stock valued at $25,755,000 after purchasing an additional 28,727 shares during the period. Finally, LMR Partners LLP purchased a new stake in shares of Wintrust Financial in the third quarter worth about $499,000. 93.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Raymond James raised their target price on Wintrust Financial from $125.00 to $135.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 23rd. DA Davidson boosted their target price 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. Piper Sandler raised their price target on shares of Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays boosted their price objective on shares of Wintrust Financial from $130.00 to $151.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Truist Financial raised their target price on Wintrust Financial from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $124.62.

Insider Activity

In other Wintrust Financial news, CFO David L. Stoehr sold 1,607 shares of the 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 of the company’s stock, valued at $1,687,604.04. This trade represents a 9.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO David A. Dykstra sold 15,492 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 21,198 shares of company stock valued at $2,445,314. Company insiders own 1.47% of the company’s stock.

Wintrust Financial Stock Down 0.7 %

Shares of Wintrust Financial stock opened at $136.46 on Friday. The business has a 50-day moving average price of $120.88 and a 200 day moving average price of $108.24. Wintrust Financial Co. has a fifty-two week low of $89.18 and a fifty-two week high of $142.04. The firm has a market cap of $9.07 billion, a P/E ratio of 14.29 and a beta of 1.18. 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 issued its quarterly earnings results on Monday, October 21st. The bank reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.03). Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. The firm had revenue of $615.73 million during the quarter, compared to the consensus estimate of $623.45 million. During the same quarter last year, the firm posted $2.53 earnings per share. Wintrust Financial’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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.32%. Wintrust Financial’s dividend payout ratio (DPR) is 18.85%.

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.