Norris Perne & French LLP MI Takes Position in Wintrust Financial Co. (NASDAQ:WTFC)

by · The Cerbat Gem

Norris Perne & French LLP MI acquired a new position in Wintrust Financial Co. (NASDAQ:WTFC – Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,462 shares of the bank’s stock, valued at approximately $1,353,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE raised its position in Wintrust Financial by 0.5% during the 3rd quarter. US Bancorp DE now owns 24,716 shares of the bank’s stock worth $2,682,000 after buying an additional 126 shares during the last quarter. Voisard Asset Management Group Inc. purchased a new stake in Wintrust Financial in the third quarter valued at $148,000. S.A. Mason LLC acquired a new stake in Wintrust Financial during the 3rd quarter worth about $239,000. Nisa Investment Advisors LLC raised its stake 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 last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Wintrust Financial by 16.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,718 shares of the bank’s stock valued at $837,000 after buying an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Stephens reaffirmed an “overweight” rating and set a $115.00 target price on shares of Wintrust Financial in a report on Thursday, July 18th. Piper Sandler lifted their target price 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. Truist Financial boosted their target price on shares of Wintrust Financial from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup raised their price target on shares of Wintrust Financial from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada increased their target price on shares of Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wintrust Financial presently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Get Our Latest Research Report on Wintrust Financial

Insider Activity

In other Wintrust Financial news, insider Richard B. Murphy sold 4,099 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $115.63, for a total value of $473,967.37. Following the completion of 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 legal filing with the SEC, which is available at the SEC website. In other news, insider Richard B. Murphy sold 4,099 shares of the business’s 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 completion of the sale, the insider now directly owns 42,311 shares of the company’s stock, valued at approximately $4,892,420.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $182,330.22. Following the transaction, the chief financial officer now directly owns 14,874 shares in the company, valued at $1,687,604.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,198 shares of company stock valued at $2,445,314. Company insiders own 1.47% of the company’s stock.

Wintrust Financial Trading Down 1.4 %

Shares of Wintrust Financial stock opened at $115.89 on Friday. Wintrust Financial Co. has a twelve month low of $73.37 and a twelve month high of $118.69. The firm’s 50-day moving average price is $108.83 and its 200 day moving average price is $102.81. 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 firm has a market capitalization of $7.71 billion, a PE ratio of 12.14 and a beta of 1.16.

Wintrust Financial (NASDAQ:WTFC – Get Free Report) last announced 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). The business had revenue of $615.73 million for the quarter, compared to analyst estimates of $623.45 million. Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $2.53 EPS. On average, sell-side analysts predict that Wintrust Financial Co. will post 10.13 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 given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, November 7th. Wintrust Financial’s payout ratio is 18.85%.

Wintrust Financial Profile

(Free Report)

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.

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