The Manufacturers Life Insurance Company Makes New Investment in Wintrust Financial Corporation $WTFC

The Manufacturers Life Insurance Company purchased a new position in Wintrust Financial Corporation (NASDAQ:WTFC) in the second quarter, Holdings Channel reports. The institutional investor purchased 46,768 shares of the bank’s stock, valued at approximately $7,517,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Wintrust Financial during the 2nd quarter valued at about $27,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Wintrust Financial in the second quarter worth about $36,000. Elyxium Wealth LLC purchased a new stake in shares of Wintrust Financial in the fourth quarter worth about $31,000. Creative Financial Designs Inc. ADV boosted its position in shares of Wintrust Financial by 231.9% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank’s stock valued at $32,000 after acquiring an additional 160 shares during the period. Finally, Advisors Asset Management Inc. purchased a new position in Wintrust Financial during the first quarter valued at approximately $27,000. 93.48% of the stock is currently owned by institutional investors.

Wintrust Financial Price Performance

Shares of NASDAQ:WTFC opened at $152.95 on Monday. 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 stock has a market cap of $10.32 billion, a PE ratio of 12.29 and a beta of 0.85. The company’s fifty day moving average is $159.51 and its 200 day moving average is $151.12. Wintrust Financial Corporation has a 52 week low of $119.61 and a 52 week high of $167.21.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings results 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 net margin of 20.72% and a return on equity of 13.37%. The business had revenue of $738.63 million during the quarter, compared to analyst estimates of $735.36 million. During the same period in the prior year, the business posted $2.78 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. Research analysts anticipate that Wintrust Financial Corporation will post 13.04 earnings per share for the current year.

Wintrust Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a dividend of $0.55 per share. The ex-dividend date was Thursday, August 6th. This represents a $2.20 annualized dividend and a yield of 1.4%. Wintrust Financial’s dividend payout ratio is currently 17.67%.

Insiders Place Their Bets

In related news, COO David A. Dykstra sold 13,515 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $27,092,903.73. This trade represents a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on WTFC. Capital One Financial set a $170.00 target price on shares of Wintrust Financial in a research note on Tuesday, July 21st. Truist Financial boosted 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. Piper Sandler set a $186.00 price objective on shares of Wintrust Financial in a research report on Wednesday, July 22nd. Brean Capital downgraded shares of Wintrust Financial from a “buy” rating to a “neutral” rating and set a $170.00 target price on the stock. in a research note on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wintrust Financial in a research report on Monday, June 29th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Wintrust Financial currently has a consensus rating of “Moderate Buy” and an average price target of $177.77.

Wintrust Financial Company 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.