Arizona State Retirement System Boosts Stock Holdings in Wintrust Financial Co. (NASDAQ:WTFC)

Posted by Defense World Staff on May 13th, 2023

Arizona State Retirement System grew its position in Wintrust Financial Co. (NASDAQ:WTFC – Get Rating) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,138 shares of the bank’s stock after acquiring an additional 1,576 shares during the quarter. Arizona State Retirement System’s holdings in Wintrust Financial were worth $1,449,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WTFC. MQS Management LLC purchased a new position in Wintrust Financial in the 3rd quarter valued at $220,000. Maven Securities LTD lifted its stake in shares of Wintrust Financial by 171.4% in the third quarter. Maven Securities LTD now owns 11,400 shares of the bank’s stock worth $930,000 after buying an additional 7,200 shares in the last quarter. Congress Asset Management Co. MA boosted its position in Wintrust Financial by 0.3% during the fourth quarter. Congress Asset Management Co. MA now owns 88,276 shares of the bank’s stock worth $7,461,000 after acquiring an additional 301 shares during the last quarter. Xponance Inc. grew its stake in Wintrust Financial by 11.9% during the 4th quarter. Xponance Inc. now owns 8,011 shares of the bank’s stock valued at $677,000 after acquiring an additional 853 shares in the last quarter. Finally, Boothbay Fund Management LLC raised its holdings in Wintrust Financial by 27.6% in the 3rd quarter. Boothbay Fund Management LLC now owns 70,204 shares of the bank’s stock valued at $5,725,000 after acquiring an additional 15,204 shares during the last quarter. 89.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Timothy Crane acquired 1,500 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were acquired at an average price of $60.87 per share, with a total value of $91,305.00. Following the completion of the transaction, the chief executive officer now owns 42,707 shares of the company’s stock, valued at $2,599,575.09. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Timothy Crane bought 1,500 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was purchased at an average cost of $60.87 per share, with a total value of $91,305.00. Following the purchase, the chief executive officer now directly owns 42,707 shares of the company’s stock, valued at approximately $2,599,575.09. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director H Patrick Hackett, Jr. purchased 7,100 shares of Wintrust Financial stock in a transaction on Monday, March 13th. The stock was bought at an average cost of $73.31 per share, for a total transaction of $520,501.00. Following the transaction, the director now directly owns 47,173 shares in the company, valued at $3,458,252.63. The disclosure for this purchase can be found here. 1.41% of the stock is owned by company insiders.

Wintrust Financial Trading Up 0.3 %

WTFC opened at $60.91 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.78. The firm has a market cap of $3.73 billion, a P/E ratio of 6.98, a P/E/G ratio of 0.37 and a beta of 1.17. Wintrust Financial Co. has a 52 week low of $57.48 and a 52 week high of $97.81. The business has a fifty day simple moving average of $71.31 and a 200-day simple moving average of $82.86.

Wintrust Financial (NASDAQ:WTFC – Get Rating) last announced its earnings results on Thursday, April 20th. The bank reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.25. The company had revenue of $565.76 million during the quarter, compared to analysts’ expectations of $567.68 million. Wintrust Financial had a return on equity of 12.84% and a net margin of 22.82%. Wintrust Financial’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period last year, the business posted $2.07 EPS. On average, equities analysts expect that Wintrust Financial Co. will post 9.96 earnings per share for the current year.

Wintrust Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Thursday, May 11th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, May 10th. Wintrust Financial’s payout ratio is currently 18.33%.

Analyst Ratings Changes

WTFC has been the topic of several recent research reports. Truist Financial lowered their target price on Wintrust Financial from $87.00 to $80.00 in a report on Monday, April 24th. Raymond James decreased their target price on shares of Wintrust Financial from $110.00 to $95.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 6th. DA Davidson cut their price target on shares of Wintrust Financial from $84.00 to $82.00 and set a “buy” rating for the company in a report on Friday, April 21st. UBS Group decreased their price objective on Wintrust Financial from $76.00 to $75.00 in a report on Tuesday, April 25th. Finally, Hovde Group raised Wintrust Financial from a “market perform” rating to an “outperform” rating and set a $108.00 target price for the company in a research note on Wednesday, February 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wintrust Financial presently has a consensus rating of “Moderate Buy” and an average target price of $94.73.

About Wintrust Financial

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Wintrust Financial Corp. operates as holding company, which engages in the provision of banking and financial services. It operates through the following segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment provides community-oriented, personal, and commercial banking services to customers located in its market area.