Royal Bank of Canada Cuts Position in Wintrust Financial Corporation $WTFC

Royal Bank of Canada trimmed its position in shares of Wintrust Financial Corporation (NASDAQ:WTFC) by 19.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,131 shares of the bank’s stock after selling 21,557 shares during the period. Royal Bank of Canada’s holdings in Wintrust Financial were worth $12,523,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. First Trust Advisors LP raised its holdings in shares of Wintrust Financial by 26.6% in the 1st quarter. First Trust Advisors LP now owns 1,830,268 shares of the bank’s stock valued at $254,297,000 after buying an additional 385,069 shares during the period. Geode Capital Management LLC boosted its holdings in Wintrust Financial by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,273,042 shares of the bank’s stock valued at $178,038,000 after acquiring an additional 16,997 shares during the period. Bank of America Corp DE boosted its holdings in Wintrust Financial by 1.4% during the 3rd quarter. Bank of America Corp DE now owns 1,071,763 shares of the bank’s stock valued at $141,944,000 after acquiring an additional 15,044 shares during the period. Wellington Management Group LLP grew its position in Wintrust Financial by 22.2% in the 4th quarter. Wellington Management Group LLP now owns 832,352 shares of the bank’s stock valued at $116,379,000 after acquiring an additional 151,385 shares in the last quarter. Finally, Norges Bank acquired a new position in Wintrust Financial in the 4th quarter valued at about $111,924,000. 93.48% of the stock is owned by institutional investors and hedge funds.

Wintrust Financial Price Performance

Shares of NASDAQ WTFC opened at $158.75 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.98 and a quick ratio of 0.97. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 12.75 and a beta of 0.85. The stock’s 50-day moving average is $158.58 and its two-hundred day moving average is $150.52. Wintrust Financial Corporation has a 1-year low of $119.61 and a 1-year high of $167.21.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings data on Monday, July 20th. The bank reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.15. Wintrust Financial had a return on equity of 13.37% and a net margin of 20.72%.The business had revenue of $738.63 million during the quarter, compared to analysts’ expectations of $735.36 million. During the same quarter last year, the business posted $2.78 EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. Analysts forecast that Wintrust Financial Corporation will post 13.04 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $2.20 annualized dividend and a yield of 1.4%. Wintrust Financial’s dividend payout ratio (DPR) is 17.67%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WTFC shares. Raymond James Financial started coverage on shares of Wintrust Financial in a research report on Tuesday, July 7th. They set an “outperform” rating and a $180.00 price target on the stock. DA Davidson lifted their price objective on shares of Wintrust Financial from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Capital One Financial set a $170.00 target price on shares of Wintrust Financial in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Wintrust Financial in a report on Monday, June 29th. Finally, Truist Financial raised their price target on shares of Wintrust Financial from $170.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $177.77.

Wintrust Financial Profile

Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.

The firm’s core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.