Oppenheimer & Co. Inc. grew its stake in shares of Wintrust Financial Corp (NASDAQ:WTFC) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,557 shares of the bank’s stock after buying an additional 1,529 shares during the period. Oppenheimer & Co. Inc. owned approximately 0.07% of Wintrust Financial worth $3,618,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Cornerstone Wealth Management LLC bought a new position in shares of Wintrust Financial during the 2nd quarter valued at about $171,000. Atria Investments LLC bought a new position in shares of Wintrust Financial during the 2nd quarter valued at about $204,000. Dearborn Partners LLC bought a new position in shares of Wintrust Financial during the 1st quarter valued at about $211,000. CIBC World Markets Inc. bought a new position in shares of Wintrust Financial during the 1st quarter valued at about $296,000. Finally, Gideon Capital Advisors Inc. bought a new position in shares of Wintrust Financial during the 2nd quarter valued at about $378,000. Hedge funds and other institutional investors own 88.96% of the company’s stock.
Several research firms have recently weighed in on WTFC. ValuEngine upgraded Wintrust Financial from a “hold” rating to a “buy” rating in a report on Tuesday, May 22nd. BidaskClub cut Wintrust Financial from a “buy” rating to a “hold” rating in a report on Friday, May 25th. Hovde Group set a $98.00 price objective on Wintrust Financial and gave the company a “hold” rating in a report on Monday, July 23rd. Zacks Investment Research cut Wintrust Financial from a “buy” rating to a “hold” rating in a report on Saturday, July 7th. Finally, Wedbush lifted their price objective on Wintrust Financial from $100.00 to $101.00 and gave the company a “$90.84” rating in a report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $94.56.
In related news, insider Edward J. Wehmer sold 12,301 shares of Wintrust Financial stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $91.12, for a total value of $1,120,867.12. Following the sale, the insider now owns 133,308 shares of the company’s stock, valued at approximately $12,147,024.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Timothy Crane sold 954 shares of Wintrust Financial stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $90.96, for a total value of $86,775.84. Following the completion of the sale, the insider now directly owns 17,272 shares in the company, valued at approximately $1,571,061.12. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by company insiders.
Shares of Wintrust Financial stock opened at $88.54 on Thursday. Wintrust Financial Corp has a 52-week low of $67.74 and a 52-week high of $99.96. The company has a market capitalization of $5.04 billion, a P/E ratio of 17.11, a PEG ratio of 1.10 and a beta of 0.81. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.
Wintrust Financial (NASDAQ:WTFC) last announced its earnings results on Tuesday, July 17th. The bank reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.09. Wintrust Financial had a return on equity of 10.62% and a net margin of 22.07%. The business had revenue of $333.40 million for the quarter, compared to analyst estimates of $327.03 million. During the same quarter last year, the firm earned $1.11 EPS. research analysts forecast that Wintrust Financial Corp will post 6.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Thursday, August 9th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Wednesday, August 8th. Wintrust Financial’s dividend payout ratio is presently 17.27%.
About Wintrust Financial
Wintrust Financial Corporation operates as a financial holding company in the Chicago metropolitan area, southern Wisconsin, and northwest Indiana. 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), Internet banking, and other services.
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