Bank of Nova Scotia Decreases Stock Holdings in Wintrust Financial Co. (NASDAQ:WTFC)

Bank of Nova Scotia trimmed its holdings in Wintrust Financial Co. (NASDAQ:WTFC – Get Rating) by 84.2% during the fourth quarter, HoldingsChannel reports. The firm owned 27,014 shares of the bank’s stock after selling 144,000 shares during the period. Bank of Nova Scotia’s holdings in Wintrust Financial were worth $2,283,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Profund Advisors LLC increased its holdings in shares of Wintrust Financial by 5.1% during the 4th quarter. Profund Advisors LLC now owns 3,001 shares of the bank’s stock worth $254,000 after buying an additional 146 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Wintrust Financial by 3.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,822 shares of the bank’s stock worth $393,000 after buying an additional 182 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of Wintrust Financial by 1.3% during the 4th quarter. State of Michigan Retirement System now owns 15,463 shares of the bank’s stock worth $1,307,000 after buying an additional 200 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Wintrust Financial by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 32,097 shares of the bank’s stock worth $2,618,000 after buying an additional 201 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of Wintrust Financial by 0.3% during the 3rd quarter. Retirement Systems of Alabama now owns 79,514 shares of the bank’s stock worth $6,484,000 after buying an additional 246 shares during the last quarter. 89.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Wintrust Financial

In other news, Director H Patrick Hackett, Jr. acquired 7,100 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $73.31 per share, with a total value of $520,501.00. Following the transaction, the director now owns 47,173 shares in the company, valued at $3,458,252.63. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director H Patrick Hackett, Jr. acquired 7,100 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $73.31 per share, with a total value of $520,501.00. Following the transaction, the director now owns 47,173 shares in the company, valued at $3,458,252.63. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy Crane acquired 1,500 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were purchased at an average cost of $60.87 per share, with a total value of $91,305.00. Following the completion of the transaction, the chief executive officer now owns 42,707 shares in the company, valued at approximately $2,599,575.09. The disclosure for this purchase can be found here. Corporate insiders own 1.41% of the company’s stock.

Wall Street Analyst Weigh In

WTFC has been the subject of a number of recent analyst reports. Truist Financial cut their price target on shares of Wintrust Financial from $87.00 to $80.00 in a report on Monday, April 24th. UBS Group dropped their target price on shares of Wintrust Financial from $76.00 to $75.00 in a report on Tuesday, April 25th. DA Davidson dropped their target price on shares of Wintrust Financial from $84.00 to $82.00 and set a “buy” rating for the company in a report on Friday, April 21st. Piper Sandler dropped their target price on shares of Wintrust Financial from $93.00 to $92.00 and set an “overweight” rating for the company in a report on Friday, April 21st. Finally, Raymond James dropped their target price on shares of Wintrust Financial from $110.00 to $95.00 and set a “strong-buy” rating for the company in a report on Thursday, April 6th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wintrust Financial presently has a consensus rating of “Moderate Buy” and an average target price of $94.73.

Wintrust Financial Stock Performance

NASDAQ:WTFC opened at $65.33 on Monday. The company has a fifty day simple moving average of $69.18 and a two-hundred day simple moving average of $81.73. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 0.39 and a beta of 1.17. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.78. Wintrust Financial Co. has a 52 week low of $57.48 and a 52 week high of $97.81.

Wintrust Financial (NASDAQ:WTFC – Get Rating) last posted its quarterly earnings results on Thursday, April 20th. The bank reported $2.80 EPS for the quarter, topping the consensus estimate of $2.55 by $0.25. The business had revenue of $565.76 million during the quarter, compared to the consensus estimate of $567.68 million. Wintrust Financial had a net margin of 22.82% and a return on equity of 12.84%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.07 earnings per share. As a group, equities analysts anticipate that Wintrust Financial Co. will post 9.96 earnings per share for the current fiscal year.

Wintrust Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, May 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.45%. Wintrust Financial’s dividend payout ratio (DPR) is 18.33%.

Wintrust Financial Company Profile

(Get Rating)

Wintrust Financial Corp. operates as holding company, which engages in the provision of banking and financial services. It operates through the following segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment provides community-oriented, personal, and commercial banking services to customers located in its market area.