Wintrust Financial Corporation $WTFC Holdings Reduced by Legal & General Group Plc

Legal & General Group Plc decreased its position in Wintrust Financial Corporation (NASDAQ:WTFC) by 20.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 99,742 shares of the bank’s stock after selling 25,458 shares during the period. Legal & General Group Plc’s holdings in Wintrust Financial were worth $13,946,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new stake in shares of Wintrust Financial in the 3rd quarter worth approximately $90,187,000. Artemis Investment Management LLP acquired a new stake in shares of Wintrust Financial in the 4th quarter worth approximately $59,287,000. Verition Fund Management LLC lifted its stake in shares of Wintrust Financial by 172.4% in the 3rd quarter. Verition Fund Management LLC now owns 238,210 shares of the bank’s stock worth $31,549,000 after acquiring an additional 150,768 shares during the period. M&T Bank Corp lifted its stake in shares of Wintrust Financial by 744.8% in the 4th quarter. M&T Bank Corp now owns 139,139 shares of the bank’s stock worth $19,454,000 after acquiring an additional 122,669 shares during the period. Finally, Clark Capital Management Group Inc. lifted its stake in shares of Wintrust Financial by 27.1% in the 3rd quarter. Clark Capital Management Group Inc. now owns 572,816 shares of the bank’s stock worth $75,864,000 after acquiring an additional 122,221 shares during the period. Institutional investors own 93.48% of the company’s stock.

Wintrust Financial Stock Up 2.1%

WTFC stock opened at $150.10 on Wednesday. Wintrust Financial Corporation has a 12 month low of $116.57 and a 12 month high of $162.96. The firm has a market cap of $10.12 billion, a PE ratio of 12.58 and a beta of 0.84. The firm has a 50 day simple moving average of $145.60 and a 200 day simple moving average of $143.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.98 and a quick ratio of 0.97.

Wintrust Financial (NASDAQ:WTFC) last released its earnings results on Monday, April 20th. The bank reported $3.22 EPS for the quarter, beating the consensus estimate of $2.96 by $0.26. Wintrust Financial had a net margin of 20.11% and a return on equity of 13.15%. The business had revenue of $713.17 million during the quarter, compared to analyst estimates of $707.23 million. During the same period in the prior year, the business earned $2.69 earnings per share. The business’s quarterly revenue was up 10.9% on a year-over-year basis. Equities research analysts forecast that Wintrust Financial Corporation will post 13.07 earnings per share for the current fiscal year.

Wintrust Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.20 annualized dividend and a yield of 1.5%. Wintrust Financial’s dividend payout ratio is currently 18.44%.

Analysts Set New Price Targets

WTFC has been the subject of a number of research analyst reports. Citigroup upped their price target on shares of Wintrust Financial from $178.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. DA Davidson reaffirmed a “buy” rating and issued a $165.00 price target on shares of Wintrust Financial in a research note on Tuesday, April 21st. Stephens initiated coverage on shares of Wintrust Financial in a research note on Friday, March 27th. They issued an “equal weight” rating and a $160.00 price target for the company. Royal Bank Of Canada upped their price target on shares of Wintrust Financial from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Truist Financial cut their target price on shares of Wintrust Financial from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $168.92.

Insider Activity at Wintrust Financial

In related news, CFO David L. Stoehr sold 3,020 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $150.45, for a total value of $454,359.00. Following the completion of the sale, the chief financial officer owned 13,213 shares in the company, valued at approximately $1,987,895.85. This represents a 18.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Suzet M. Mckinney sold 500 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $148.96, for a total transaction of $74,480.00. Following the completion of the sale, the director owned 3,303 shares of the company’s stock, valued at approximately $492,014.88. This trade represents a 13.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,099 shares of company stock valued at $1,954,386 over the last ninety days. Insiders own 1.24% of the company’s stock.

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.