Covestor Ltd Raises Holdings in Wintrust Financial Co. (NASDAQ:WTFC)

Covestor Ltd lifted its stake in Wintrust Financial Co. (NASDAQ:WTFC) by 77.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 653 shares of the bank’s stock after acquiring an additional 286 shares during the period. Covestor Ltd’s holdings in Wintrust Financial were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of WTFC. Janney Montgomery Scott LLC raised its holdings in shares of Wintrust Financial by 29.8% in the first quarter. Janney Montgomery Scott LLC now owns 7,920 shares of the bank’s stock worth $827,000 after buying an additional 1,816 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Wintrust Financial by 17.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,702 shares of the bank’s stock worth $491,000 after acquiring an additional 691 shares during the period. Sei Investments Co. grew its stake in Wintrust Financial by 23.6% during the 1st quarter. Sei Investments Co. now owns 118,312 shares of the bank’s stock valued at $12,351,000 after purchasing an additional 22,586 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Wintrust Financial by 7.6% in the first quarter. Russell Investments Group Ltd. now owns 9,174 shares of the bank’s stock valued at $958,000 after purchasing an additional 651 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Wintrust Financial by 5.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 127,567 shares of the bank’s stock worth $13,316,000 after purchasing an additional 7,095 shares during the last quarter. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Richard B. Murphy sold 4,099 shares of the stock in a transaction on 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 transaction, the insider now directly owns 42,311 shares of the company’s stock, valued at approximately $4,892,420.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Richard B. Murphy sold 4,099 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $115.63, for a total transaction of $473,967.37. Following the completion of the sale, the insider now owns 42,311 shares of the company’s stock, valued at $4,892,420.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David L. Stoehr sold 1,607 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 14,874 shares in the company, valued at approximately $1,687,604.04. This represents a 0.00 % decrease in their ownership of the stock. 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 currently owned by corporate insiders.

Wintrust Financial Trading Down 0.8 %

Shares of WTFC stock opened at $132.62 on Thursday. Wintrust Financial Co. has a 1-year low of $79.85 and a 1-year high of $136.08. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 13.89 and a beta of 1.15. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a 50 day simple moving average of $112.11 and a 200-day simple moving average of $104.60.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings data 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 net margin of 16.52% and a return on equity of 11.99%. The company had revenue of $615.73 million for the quarter, compared to analysts’ expectations of $623.45 million. During the same period in the previous year, the business earned $2.53 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts expect that Wintrust Financial Co. will post 10.12 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.36%. Wintrust Financial’s payout ratio is currently 18.85%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $130.00 target price on shares of Wintrust Financial in a research report on Tuesday, October 22nd. DA Davidson increased their price objective on shares of Wintrust Financial from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Raymond James raised their target price on shares of Wintrust Financial from $125.00 to $135.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 23rd. Truist Financial increased their price target on Wintrust Financial from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods lowered Wintrust Financial from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $110.00 to $115.00 in a research note on Friday, July 19th. 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, the stock has a consensus rating of “Moderate Buy” and an average price target 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.