First Citizens Bank & Trust Co. Purchases New Stake in Wintrust Financial Corporation $WTFC

First Citizens Bank & Trust Co. acquired a new stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,046 shares of the bank’s stock, valued at approximately $999,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WTFC. Bank of America Corp DE purchased a new stake in shares of Wintrust Financial in the second quarter worth $168,021,000. Deutsche Bank AG bought a new position in shares of Wintrust Financial during the second quarter valued at $8,320,000. Corient Private Wealth LP increased its holdings in shares of Wintrust Financial by 12.2% during the second quarter. Corient Private Wealth LP now owns 56,983 shares of the bank’s stock valued at $9,158,000 after acquiring an additional 6,214 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of Wintrust Financial by 8.2% during the third quarter. Congress Asset Management Co. now owns 117,250 shares of the bank’s stock valued at $16,628,000 after acquiring an additional 8,873 shares in the last quarter. Finally, Simplicity Wealth LLC purchased a new position in shares of Wintrust Financial in the 2nd quarter worth about $866,000. Institutional investors own 93.48% of the company’s stock.

Insider Activity

In other news, COO David Dykstra sold 13,515 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $162.77, for a total transaction of $2,199,836.55. Following the transaction, the chief operating officer directly owned 166,449 shares of the company’s stock, valued at $27,092,903.73. This represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on WTFC. Wall Street Zen raised Wintrust Financial from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Brean Capital downgraded shares of Wintrust Financial from a “buy” rating to a “neutral” rating and set a $170.00 price objective on the stock. in a research report on Tuesday, July 21st. UBS Group restated a “neutral” rating and set a $170.00 price objective on shares of Wintrust Financial in a research note on Tuesday, July 7th. Weiss Ratings restated a “buy (b)” rating on shares of Wintrust Financial in a research note on Friday, September 25th. Finally, Piper Sandler lifted their target price on shares of Wintrust Financial from $186.00 to $195.00 and gave the stock an “overweight” rating in a report on Monday, October 5th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.20.

Wintrust Financial Price Performance

Shares of NASDAQ WTFC opened at $143.54 on Friday. The firm has a market cap of $9.68 billion, a P/E ratio of 11.53 and a beta of 0.89. Wintrust Financial Corporation has a twelve month low of $119.61 and a twelve month high of $167.21. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $150.19 and a 200 day moving average of $152.15.

Wintrust Financial (NASDAQ:WTFC) last issued its earnings results on Monday, July 20th. The bank reported $3.30 EPS for the quarter, beating the consensus estimate of $3.15 by $0.15. The business had revenue of $738.63 million for the quarter, compared to the consensus estimate of $735.36 million. Wintrust Financial had a return on equity of 13.37% and a net margin of 20.72%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $2.78 EPS. As a group, research analysts expect that Wintrust Financial Corporation will post 13.16 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a $0.55 dividend. The ex-dividend date was Thursday, August 6th. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. Wintrust Financial’s payout ratio is currently 17.67%.

Wintrust Financial Company Profile

Wintrust Financial Corporation (NASDAQ: WTFC) is a financial holding company headquartered in Rosemont, Illinois. Founded in 1991, the company operates a network of community banks serving individuals, families and businesses primarily in the Chicago metropolitan area, southern Wisconsin and northwest Indiana.

Wintrust’s banking subsidiaries provide deposit accounts, commercial and consumer lending, residential mortgages, treasury management, trust and investment services, and other traditional banking products.