Allspring Global Investments Holdings LLC lowered its stake in Wintrust Financial Co. (NASDAQ:WTFC - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 194,969 shares of the bank's stock after selling 8,316 shares during the period. Allspring Global Investments Holdings LLC owned 0.29% of Wintrust Financial worth $24,178,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in shares of Wintrust Financial in the 3rd quarter valued at $35,000. Brooklyn Investment Group acquired a new stake in shares of Wintrust Financial during the 3rd quarter worth approximately $61,000. Versant Capital Management Inc lifted its stake in Wintrust Financial by 32.1% in the 4th quarter. Versant Capital Management Inc now owns 539 shares of the bank's stock valued at $67,000 after purchasing an additional 131 shares during the last quarter. Covestor Ltd raised its stake in shares of Wintrust Financial by 77.9% during the third quarter. Covestor Ltd now owns 653 shares of the bank's stock valued at $71,000 after acquiring an additional 286 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Wintrust Financial by 32.2% during the fourth quarter. UMB Bank n.a. now owns 677 shares of the bank's stock worth $84,000 after buying an additional 165 shares during the last quarter. Institutional investors and hedge funds own 93.48% of the company's stock.
In other Wintrust Financial news, insider Richard B. Murphy sold 3,186 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $131.30, for a total value of $418,321.80. Following the completion of the transaction, the insider now owns 48,814 shares in the company, valued at approximately $6,409,278.20. This represents a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David L. Stoehr sold 2,363 shares of the company's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $131.32, for a total transaction of $310,309.16. Following the completion of the transaction, the chief financial officer now owns 19,858 shares of the company's stock, valued at approximately $2,607,752.56. This trade represents a 10.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,178 shares of company stock worth $1,336,315 over the last three months. Company insiders own 1.47% of the company's stock.
A number of research firms have commented on WTFC. Piper Sandler raised their price target on shares of Wintrust Financial from $151.00 to $156.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. Wedbush restated an "outperform" rating and issued a $130.00 price target on shares of Wintrust Financial in a report on Tuesday, October 22nd. Citigroup raised their price target on shares of Wintrust Financial from $126.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Royal Bank of Canada restated an "outperform" rating and issued a $152.00 price target on shares of Wintrust Financial in a report on Thursday, January 23rd. Finally, Truist Financial upgraded shares of Wintrust Financial to a "strong-buy" rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $133.69.
View Our Latest Report on WTFC
Shares of NASDAQ:WTFC traded down $0.30 on Friday, hitting $129.61. 458,770 shares of the company were exchanged, compared to its average volume of 470,316. Wintrust Financial Co. has a 1-year low of $91.38 and a 1-year high of $142.04. The stock's 50 day moving average price is $129.40 and its 200 day moving average price is $119.21. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $8.62 billion, a P/E ratio of 12.57 and a beta of 1.19.
Wintrust Financial (NASDAQ:WTFC - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $2.63 EPS for the quarter, topping the consensus estimate of $2.52 by $0.11. Wintrust Financial had a net margin of 17.52% and a return on equity of 12.60%. During the same quarter in the prior year, the company earned $1.87 earnings per share. Sell-side analysts predict that Wintrust Financial Co. will post 10.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, February 6th. This is an increase from Wintrust Financial's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.54%. Wintrust Financial's payout ratio is currently 19.40%.
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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