State of New Jersey Common Pension Fund D trimmed its stake in Wintrust Financial Co. (NASDAQ:WTFC – Get Rating) by 8.0% in the first quarter, HoldingsChannel.com reports. The firm owned 27,989 shares of the bank’s stock after selling 2,430 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Wintrust Financial were worth $2,601,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of WTFC. Victory Capital Management Inc. increased its holdings in Wintrust Financial by 543.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,016,187 shares of the bank’s stock valued at $183,111,000 after purchasing an additional 1,702,814 shares during the period. Eaton Vance Management increased its holdings in Wintrust Financial by 16,028.1% in the fourth quarter. Eaton Vance Management now owns 208,214 shares of the bank’s stock valued at $18,810,000 after purchasing an additional 206,923 shares during the period. Strategic Value Bank Partners LLC bought a new stake in Wintrust Financial during the fourth quarter valued at $13,734,000. Assenagon Asset Management S.A. bought a new stake in Wintrust Financial during the first quarter valued at $13,738,000. Finally, State Street Corp boosted its position in Wintrust Financial by 4.6% during the fourth quarter. State Street Corp now owns 2,509,105 shares of the bank’s stock valued at $227,877,000 after acquiring an additional 111,076 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have commented on WTFC. Wedbush upped their price target on shares of Wintrust Financial from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, July 21st. Raymond James cut their price target on shares of Wintrust Financial from $130.00 to $111.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, June 29th. Piper Sandler upped their price target on shares of Wintrust Financial to $107.00 in a research report on Friday, July 22nd. DA Davidson reaffirmed a “buy” rating on shares of Wintrust Financial in a research report on Wednesday, July 27th. Finally, Jefferies Financial Group cut their price target on shares of Wintrust Financial from $109.00 to $96.00 in a research report on Monday, July 11th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.38.
Wintrust Financial Price Performance
Wintrust Financial (NASDAQ:WTFC – Get Rating) last announced its quarterly earnings results on Wednesday, July 20th. The bank reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.21). Wintrust Financial had a net margin of 22.78% and a return on equity of 10.43%. During the same quarter in the prior year, the firm posted $1.70 earnings per share. Equities research analysts expect that Wintrust Financial Co. will post 7.97 EPS for the current fiscal year.
Wintrust Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 11th will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $1.36 annualized dividend and a yield of 1.58%. Wintrust Financial’s payout ratio is 19.68%.
Wintrust Financial Company Profile
Wintrust Financial Corporation operates as a financial holding company. It operates in three segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment offers non-interest bearing deposits, non-brokered interest-bearing transaction accounts, and savings and domestic time deposits; home equity, consumer, and real estate loans; safe deposit facilities; and automatic teller machine (ATM), online and mobile banking, and other services.
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