Charles Schwab Investment Management Inc. Sells 13,394 Shares of Wintrust Financial Corporation (NASDAQ:WTFC)

Charles Schwab Investment Management Inc. cut its stake in shares of Wintrust Financial Corporation (NASDAQ:WTFC) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 787,350 shares of the bank’s stock after selling 13,394 shares during the period. Charles Schwab Investment Management Inc. owned 1.18% of Wintrust Financial worth $88,545,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WTFC. Park Place Capital Corp boosted its position in Wintrust Financial by 1,264.7% during the first quarter. Park Place Capital Corp now owns 232 shares of the bank’s stock valued at $26,000 after purchasing an additional 215 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Wintrust Financial during the first quarter valued at approximately $36,000. Opal Wealth Advisors LLC acquired a new position in Wintrust Financial during the first quarter valued at approximately $38,000. Parallel Advisors LLC boosted its position in Wintrust Financial by 33.9% during the first quarter. Parallel Advisors LLC now owns 593 shares of the bank’s stock valued at $67,000 after purchasing an additional 150 shares during the last quarter. Finally, Quarry LP acquired a new position in Wintrust Financial during the fourth quarter valued at approximately $78,000. 93.48% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Wintrust Financial news, insider Edward J. Wehmer purchased 3,919 shares of the firm’s stock in a transaction dated Friday, July 25th. The shares were bought at an average price of $26.35 per share, for a total transaction of $103,265.65. Following the purchase, the insider owned 3,919 shares in the company, valued at approximately $103,265.65. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David A. Dykstra sold 14,942 shares of Wintrust Financial stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $131.53, for a total value of $1,965,321.26. Following the completion of the transaction, the chief operating officer owned 182,208 shares in the company, valued at approximately $23,965,818.24. The trade was a 7.58% decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

Wintrust Financial Price Performance

Shares of NASDAQ WTFC opened at $127.34 on Wednesday. The firm has a market cap of $8.53 billion, a P/E ratio of 12.05 and a beta of 0.85. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. Wintrust Financial Corporation has a 1-year low of $89.10 and a 1-year high of $142.04. The business’s 50 day moving average is $126.46 and its 200-day moving average is $119.93.

Wintrust Financial (NASDAQ:WTFC) last announced its earnings results on Monday, July 21st. The bank reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.19. Wintrust Financial had a return on equity of 12.08% and a net margin of 18.06%. The company had revenue of $670.78 million for the quarter, compared to analyst estimates of $661.43 million. During the same quarter last year, the company earned $2.32 earnings per share. Equities research analysts predict that Wintrust Financial Corporation will post 10.36 earnings per share for the current year.

Wintrust Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Thursday, August 7th. Wintrust Financial’s dividend payout ratio (DPR) is 18.92%.

Analysts Set New Price Targets

WTFC has been the subject of several recent research reports. DA Davidson increased their price target on Wintrust Financial from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Barclays reaffirmed an “overweight” rating and issued a $162.00 price objective (up from $145.00) on shares of Wintrust Financial in a research report on Tuesday, July 8th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $157.00 price objective (up from $155.00) on shares of Wintrust Financial in a research report on Wednesday, July 23rd. Royal Bank Of Canada raised their price objective on Wintrust Financial from $137.00 to $158.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $160.00 price objective (up from $141.00) on shares of Wintrust Financial in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Wintrust Financial currently has an average rating of “Moderate Buy” and a consensus price target of $145.77.

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.