Intech Investment Management LLC Takes Position in Wintrust Financial Corporation $WTFC

Intech Investment Management LLC bought a new position in Wintrust Financial Corporation (NASDAQ:WTFC) in the 3rd quarter, Holdings Channel reports. The firm bought 6,861 shares of the bank’s stock, valued at approximately $909,000.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Wintrust Financial by 6.1% in the third quarter. Principal Financial Group Inc. now owns 1,300,234 shares of the bank’s stock worth $172,204,000 after purchasing an additional 75,155 shares during the last quarter. Invesco Ltd. boosted its holdings in Wintrust Financial by 9.0% during the 2nd quarter. Invesco Ltd. now owns 1,229,858 shares of the bank’s stock valued at $152,478,000 after acquiring an additional 101,134 shares during the period. Jennison Associates LLC grew its position in Wintrust Financial by 8.9% in the 3rd quarter. Jennison Associates LLC now owns 1,020,660 shares of the bank’s stock valued at $135,176,000 after acquiring an additional 83,826 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Wintrust Financial by 3.9% in the second quarter. Sei Investments Co. now owns 726,222 shares of the bank’s stock worth $90,037,000 after purchasing an additional 27,264 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Wintrust Financial in the second quarter worth about $87,418,000. 93.48% of the stock is currently owned by institutional investors.

Wintrust Financial Price Performance

Shares of WTFC stock opened at $138.07 on Monday. The stock’s 50-day moving average is $148.51 and its 200 day moving average is $138.86. Wintrust Financial Corporation has a 1-year low of $89.10 and a 1-year high of $162.96. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market cap of $9.29 billion, a P/E ratio of 12.11 and a beta of 0.85.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings results on Tuesday, January 20th. The bank reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Wintrust Financial had a net margin of 19.48% and a return on equity of 12.95%. The business had revenue of $714.26 million for the quarter, compared to analysts’ expectations of $700.85 million. During the same period last year, the business earned $2.63 EPS. Research analysts predict that Wintrust Financial Corporation will post 10.36 earnings per share for the current fiscal year.

Wintrust Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 5th were paid a dividend of $0.55 per share. This is a positive change from Wintrust Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, February 5th. This represents a $2.20 annualized dividend and a yield of 1.6%. Wintrust Financial’s dividend payout ratio (DPR) is presently 19.30%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WTFC. Stephens boosted their price objective on shares of Wintrust Financial from $158.00 to $162.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. Piper Sandler boosted their price target on Wintrust Financial from $161.00 to $184.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. DA Davidson increased their price objective on Wintrust Financial from $165.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Royal Bank Of Canada lifted their target price on Wintrust Financial from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, January 22nd. Finally, TD Cowen upped their target price on Wintrust Financial from $170.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Wintrust Financial currently has an average rating of “Moderate Buy” and an average price target of $165.31.

Insider Activity at Wintrust Financial

In other Wintrust Financial news, CFO David L. Stoehr sold 2,499 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $146.16, for a total value of $365,253.84. Following the completion of the sale, the chief financial officer owned 18,638 shares of the company’s stock, valued at approximately $2,724,130.08. This trade represents a 11.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathleen M. Boege sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $146.38, for a total transaction of $731,900.00. Following the transaction, the executive vice president owned 22,883 shares in the company, valued at approximately $3,349,613.54. This trade represents a 17.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,662 shares of company stock worth $1,705,730 over the last ninety days. Corporate insiders own 1.01% of the company’s stock.

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.