State of Alaska Department of Revenue Raises Holdings in Wintrust Financial Co. (NASDAQ:WTFC)

State of Alaska Department of Revenue lifted its holdings in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 16.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,718 shares of the bank’s stock after buying an additional 1,105 shares during the period. State of Alaska Department of Revenue’s holdings in Wintrust Financial were worth $837,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake 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 buying an additional 244,168 shares in the last quarter. Capital International Investors increased its stake in Wintrust Financial by 4.6% in the 1st 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 in the last quarter. Choreo LLC purchased a new position in Wintrust Financial in the 2nd quarter valued at approximately $1,115,000. Allspring Global Investments Holdings LLC increased its stake 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. Finally, Raymond James & Associates increased its stake 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 purchasing an additional 5,563 shares in the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

Wintrust Financial Price Performance

WTFC stock opened at $115.15 on Wednesday. The stock has a 50-day moving average price of $109.11 and a two-hundred day moving average price of $103.18. Wintrust Financial Co. has a 12-month low of $76.67 and a 12-month high of $118.69. 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 company has a market cap of $7.66 billion, a PE ratio of 12.06 and a beta of 1.15.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings results on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $623.45 million. During the same period last year, the firm posted $2.53 EPS. Wintrust Financial’s revenue was up 7.1% on a year-over-year basis. As a group, research analysts predict that Wintrust Financial Co. will post 10.13 EPS for the current year.

Wintrust Financial Announces Dividend

The business 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 dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, November 7th. Wintrust Financial’s dividend payout ratio is presently 18.85%.

Insiders Place Their Bets

In other Wintrust Financial news, CFO David L. Stoehr sold 1,607 shares of the business’s stock in a transaction dated 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 $1,687,604.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related 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 transaction, the insider now owns 42,311 shares in the company, valued at approximately $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 can be accessed through this link. Also, CFO David L. Stoehr sold 1,607 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $113.46, for a total value of $182,330.22. Following the completion of the transaction, the chief financial officer now owns 14,874 shares in the company, valued at approximately $1,687,604.04. This trade represents a 0.00 % 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 worth $2,445,314 over the last quarter. 1.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WTFC has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of Wintrust Financial in a research note on Tuesday, October 22nd. Piper Sandler raised their price objective on Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Raymond James raised their price objective on Wintrust Financial from $125.00 to $135.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 23rd. Stephens reiterated an “overweight” rating and set a $115.00 target price on shares of Wintrust Financial in a report on Thursday, July 18th. Finally, Truist Financial increased their target price on Wintrust Financial from $123.00 to $127.00 and gave the company a “buy” rating in a report 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $123.00.

Wintrust Financial 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.