abrdn plc Lowers Stock Position in Wintrust Financial Co. (NASDAQ:WTFC)

abrdn plc trimmed its stake in Wintrust Financial Co. (NASDAQ:WTFC) by 2.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 335,224 shares of the bank’s stock after selling 9,407 shares during the period. abrdn plc’s holdings in Wintrust Financial were worth $31,092,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in WTFC. Ronald Blue Trust Inc. raised its position in Wintrust Financial by 347.8% in the third quarter. Ronald Blue Trust Inc. now owns 824 shares of the bank’s stock valued at $60,000 after purchasing an additional 640 shares during the period. Handelsbanken Fonder AB lifted its stake in Wintrust Financial by 49.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,223 shares of the bank’s stock worth $998,000 after acquiring an additional 4,400 shares in the last quarter. Hunter Perkins Capital Management LLC purchased a new position in Wintrust Financial during the 3rd quarter valued at about $203,000. Shaker Investments LLC OH grew its position in Wintrust Financial by 99.7% in the 3rd quarter. Shaker Investments LLC OH now owns 34,135 shares of the bank’s stock valued at $2,577,000 after acquiring an additional 17,041 shares in the last quarter. Finally, Reinhart Partners LLC. increased its stake in Wintrust Financial by 4.9% during the third quarter. Reinhart Partners LLC. now owns 652,206 shares of the bank’s stock worth $49,242,000 after purchasing an additional 30,279 shares during the period. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Wintrust Financial

In other Wintrust Financial news, EVP Jeffrey D. Hahnfeld sold 588 shares of Wintrust Financial stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $97.88, for a total value of $57,553.44. Following the transaction, the executive vice president now directly owns 3,410 shares in the company, valued at $333,770.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Wintrust Financial news, EVP Jeffrey D. Hahnfeld sold 588 shares of Wintrust Financial stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $97.88, for a total value of $57,553.44. Following the transaction, the executive vice president now directly owns 3,410 shares in the company, valued at approximately $333,770.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward J. Wehmer sold 9,500 shares of Wintrust Financial stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $99.36, for a total transaction of $943,920.00. Following the completion of the transaction, the insider now owns 177,124 shares in the company, valued at $17,599,040.64. The disclosure for this sale can be found here. 1.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WTFC has been the subject of several recent research reports. Jefferies Financial Group raised their price objective on shares of Wintrust Financial from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Citigroup decreased their price target on shares of Wintrust Financial from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Monday. Truist Financial cut their price objective on Wintrust Financial from $117.00 to $112.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank of Canada lifted their target price on Wintrust Financial from $109.00 to $116.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Finally, StockNews.com raised Wintrust Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $112.33.

Wintrust Financial Trading Up 2.0 %

WTFC opened at $99.30 on Tuesday. The company has a market cap of $6.13 billion, a P/E ratio of 10.27 and a beta of 1.21. Wintrust Financial Co. has a one year low of $58.12 and a one year high of $105.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.97 and a current ratio of 0.98. The business’s 50-day simple moving average is $98.25 and its 200-day simple moving average is $91.16.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.47. The firm had revenue of $604.77 million during the quarter, compared to analysts’ expectations of $577.80 million. Wintrust Financial had a net margin of 17.86% and a return on equity of 13.09%. Wintrust Financial’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.80 earnings per share. As a group, equities research analysts expect that Wintrust Financial Co. will post 10.02 EPS for the current fiscal year.

Wintrust Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.81%. This is a boost from Wintrust Financial’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, February 7th. Wintrust Financial’s payout ratio is presently 18.61%.

Wintrust Financial Profile

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.