Fifth Third Bancorp Acquires 32,555 Shares of Wintrust Financial Corporation $WTFC

Fifth Third Bancorp increased its holdings in shares of Wintrust Financial Corporation (NASDAQ:WTFC) by 150.3% in the first quarter, Holdings Channel.com reports. The fund owned 54,210 shares of the bank’s stock after buying an additional 32,555 shares during the quarter. Fifth Third Bancorp’s holdings in Wintrust Financial were worth $7,532,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Advisors Asset Management Inc. purchased a new stake in shares of Wintrust Financial during the first quarter valued at $27,000. Elyxium Wealth LLC bought a new position in shares of Wintrust Financial in the fourth quarter worth about $31,000. Creative Financial Designs Inc. ADV increased its stake in Wintrust Financial by 231.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank’s stock worth $32,000 after buying an additional 160 shares during the period. Harbour Investments Inc. lifted its holdings in Wintrust Financial by 72.7% during the 4th quarter. Harbour Investments Inc. now owns 240 shares of the bank’s stock valued at $34,000 after buying an additional 101 shares in the last quarter. Finally, Strive Financial Group LLC bought a new stake in Wintrust Financial during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 93.48% of the company’s stock.

Insider Transactions at Wintrust Financial

In other news, COO David A. Dykstra sold 9,579 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $148.82, for a total value of $1,425,546.78. Following the completion of the sale, the chief operating officer owned 179,810 shares of the company’s stock, valued at $26,759,324.20. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Suzet M. Mckinney sold 500 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $148.96, for a total value of $74,480.00. Following the transaction, the director owned 3,303 shares in the company, valued at approximately $492,014.88. This trade represents a 13.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,099 shares of company stock valued at $1,954,386 in the last quarter. 1.24% of the stock is currently owned by corporate insiders.

Wintrust Financial Trading Up 0.2%

NASDAQ:WTFC opened at $162.62 on Thursday. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 13.63 and a beta of 0.84. Wintrust Financial Corporation has a 52 week low of $119.61 and a 52 week high of $164.07. 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 firm has a 50 day moving average of $154.65 and a 200 day moving average of $148.58.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings results on Monday, April 20th. The bank reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.26. The business had revenue of $713.17 million for the quarter, compared to analyst estimates of $707.23 million. Wintrust Financial had a net margin of 20.11% and a return on equity of 13.15%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.69 earnings per share. As a group, sell-side analysts anticipate that Wintrust Financial Corporation will post 13.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Wintrust Financial from $190.00 to $192.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. UBS Group reaffirmed a “neutral” rating and set a $170.00 price target on shares of Wintrust Financial in a research note on Tuesday, July 7th. Citigroup boosted their price target on Wintrust Financial from $178.00 to $182.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Truist Financial increased their price objective on Wintrust Financial from $170.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wintrust Financial in a report on Monday, June 29th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wintrust Financial has a consensus rating of “Moderate Buy” and an average price target of $174.92.

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.