United Fire Group Inc. Has $17,621,000 Position in Wintrust Financial Corporation (NASDAQ:WTFC)
United Fire Group Inc. held its stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC) during the second quarter, Holdings Channel reports. The firm owned 230,523 shares of the bank’s stock at the end of the second quarter. Wintrust Financial Corporation accounts for 6.3% of United Fire Group Inc.’s holdings, making the stock its 3rd largest position. United Fire Group Inc.’s holdings in Wintrust Financial Corporation were worth $17,621,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Shell Asset Management Co. acquired a new stake in shares of Wintrust Financial Corporation during the first quarter valued at $811,000. Granite Investment Partners LLC raised its stake in shares of Wintrust Financial Corporation by 1.4% in the first quarter. Granite Investment Partners LLC now owns 16,933 shares of the bank’s stock valued at $1,170,000 after buying an additional 242 shares during the period. First Mercantile Trust Co. raised its stake in shares of Wintrust Financial Corporation by 6.4% in the first quarter. First Mercantile Trust Co. now owns 4,500 shares of the bank’s stock valued at $311,000 after buying an additional 270 shares during the period. Sit Investment Associates Inc. raised its stake in shares of Wintrust Financial Corporation by 603.1% in the first quarter. Sit Investment Associates Inc. now owns 11,250 shares of the bank’s stock valued at $778,000 after buying an additional 9,650 shares during the period. Finally, Nationwide Fund Advisors raised its stake in shares of Wintrust Financial Corporation by 51.8% in the first quarter. Nationwide Fund Advisors now owns 121,481 shares of the bank’s stock valued at $8,397,000 after buying an additional 41,452 shares during the period. Institutional investors and hedge funds own 89.70% of the company’s stock.
Wintrust Financial Corporation (WTFC) opened at 73.00 on Friday. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 18.41 and a beta of 0.81. The firm has a 50-day moving average of $76.05 and a 200-day moving average of $72.76. Wintrust Financial Corporation has a 52-week low of $51.66 and a 52-week high of $80.52.
Wintrust Financial Corporation (NASDAQ:WTFC) last announced its quarterly earnings data on Tuesday, July 18th. The bank reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. The firm had revenue of $294.38 million for the quarter, compared to the consensus estimate of $279.69 million. Wintrust Financial Corporation had a net margin of 19.24% and a return on equity of 9.15%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. On average, equities research analysts forecast that Wintrust Financial Corporation will post $4.30 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.56 dividend on an annualized basis and a yield of 0.77%. Wintrust Financial Corporation’s payout ratio is 14.11%.
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Several brokerages have recently weighed in on WTFC. Stephens lowered shares of Wintrust Financial Corporation from an “overweight” rating to an “equal weight” rating in a research report on Monday, July 10th. Piper Jaffray Companies set a $72.00 target price on shares of Wintrust Financial Corporation and gave the company a “hold” rating in a research report on Tuesday, July 18th. BidaskClub lowered shares of Wintrust Financial Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “hold” rating and issued a $80.00 price target on shares of Wintrust Financial Corporation in a research report on Sunday, June 11th. Finally, Zacks Investment Research lowered shares of Wintrust Financial Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $78.71.
In related news, Director Gary D. Sweeney purchased 485 shares of Wintrust Financial Corporation stock in a transaction dated Friday, July 21st. The shares were bought at an average cost of $77.12 per share, for a total transaction of $37,403.20. Following the purchase, the director now owns 2,186 shares in the company, valued at approximately $168,584.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David A. Dykstra sold 26,861 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $76.82, for a total transaction of $2,063,462.02. Following the completion of the sale, the executive vice president now owns 185,651 shares in the company, valued at $14,261,709.82. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
About Wintrust Financial Corporation
Wintrust Financial Corporation is a financial holding company. The Company conducts its businesses through three segments: community banking, specialty finance and wealth management. The Company offers community banking services to individuals, small to mid-sized businesses, local governmental units and institutional clients.
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