Los Angeles Capital Management LLC boosted its position in shares of Wintrust Financial Co. (NASDAQ:WTFC – Get Rating) by 594.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,397 shares of the bank’s stock after buying an additional 62,835 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.12% of Wintrust Financial worth $5,986,000 as of its most recent filing with the Securities & Exchange Commission.
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A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinebridge Investments LP increased its stake in shares of Wintrust Financial by 307.0% in the 2nd quarter. Pinebridge Investments LP now owns 407 shares of the bank’s stock worth $33,000 after acquiring an additional 307 shares in the last quarter. Private Trust Co. NA grew its position in Wintrust Financial by 48.9% during the 3rd quarter. Private Trust Co. NA now owns 411 shares of the bank’s stock valued at $34,000 after purchasing an additional 135 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Wintrust Financial by 37.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 464 shares of the bank’s stock valued at $38,000 after purchasing an additional 126 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in Wintrust Financial during the 2nd quarter valued at about $76,000. Finally, Trust Co. of Vermont purchased a new stake in Wintrust Financial during the 2nd quarter valued at about $80,000. 89.47% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Wintrust Financial news, CFO David L. Stoehr sold 2,215 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $92.45, for a total transaction of $204,776.75. Following the sale, the chief financial officer now owns 11,266 shares in the company, valued at approximately $1,041,541.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.41% of the stock is owned by company insiders.
Analyst Ratings Changes
Several analysts recently commented on WTFC shares. Piper Sandler increased their price objective on shares of Wintrust Financial from $107.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 20th. DA Davidson reissued a “buy” rating on shares of Wintrust Financial in a research report on Wednesday, December 21st. Stephens raised their price target on shares of Wintrust Financial from $107.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, October 20th. UBS Group raised their price target on shares of Wintrust Financial to $100.00 in a report on Wednesday, November 16th. Finally, Royal Bank of Canada raised their price target on shares of Wintrust Financial from $109.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, October 20th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.63.
Wintrust Financial Price Performance
Shares of NASDAQ:WTFC opened at $84.77 on Friday. The firm’s 50 day moving average price is $86.07 and its 200-day moving average price is $86.45. Wintrust Financial Co. has a twelve month low of $76.13 and a twelve month high of $105.56. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $5.15 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 0.48 and a beta of 1.19.
Wintrust Financial (NASDAQ:WTFC – Get Rating) last issued its quarterly earnings data on Tuesday, October 18th. The bank reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.10. Wintrust Financial had a net margin of 23.23% and a return on equity of 11.10%. The firm had revenue of $502.93 million for the quarter, compared to analysts’ expectations of $497.95 million. During the same quarter in the previous year, the business earned $1.77 EPS. The business’s quarterly revenue was up 18.6% on a year-over-year basis. Equities research analysts expect that Wintrust Financial Co. will post 8.41 EPS for the current year.
Wintrust Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 25th. Shareholders of record on Thursday, November 10th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Wednesday, November 9th. Wintrust Financial’s payout ratio is 18.50%.
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.
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