HRT Financial LP Decreases Holdings in Wintrust Financial Co. (NASDAQ:WTFC)

Posted by Defense World Staff on Jun 2nd, 2023

HRT Financial LP cut its stake in Wintrust Financial Co. (NASDAQ:WTFC – Get Rating) by 23.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,524 shares of the bank’s stock after selling 2,905 shares during the quarter. HRT Financial LP’s holdings in Wintrust Financial were worth $804,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WTFC. BDO Wealth Advisors LLC raised its holdings in shares of Wintrust Financial by 6,200.0% during the 4th quarter. BDO Wealth Advisors LLC now owns 567 shares of the bank’s stock valued at $48,000 after buying an additional 558 shares during the period. Romano Brothers AND Company acquired a new position in shares of Wintrust Financial during the fourth quarter worth $71,000. CoreCap Advisors LLC purchased a new position in shares of Wintrust Financial in the fourth quarter valued at $81,000. Quadrant Capital Group LLC grew its holdings in Wintrust Financial by 44.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,008 shares of the bank’s stock valued at $82,000 after purchasing an additional 311 shares in the last quarter. Finally, Accurate Wealth Management LLC acquired a new position in Wintrust Financial in the 4th quarter worth $134,000. Institutional investors and hedge funds own 89.47% of the company’s stock.

Wintrust Financial Price Performance

Shares of NASDAQ:WTFC opened at $65.38 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78. The firm’s 50 day moving average is $67.81 and its two-hundred day moving average is $80.16. The firm has a market capitalization of $4.00 billion, a P/E ratio of 7.49, a PEG ratio of 0.38 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.

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

Wintrust Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 25th. Stockholders of record on Thursday, May 11th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Wednesday, May 10th. Wintrust Financial’s dividend payout ratio (DPR) is presently 18.33%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms recently commented on WTFC. Piper Sandler cut their price target on Wintrust Financial from $93.00 to $92.00 and set an “overweight” rating on the stock in a research note on Friday, April 21st. Raymond James decreased their price target on shares of Wintrust Financial from $110.00 to $95.00 and set a “strong-buy” rating for the company in a research report on Thursday, April 6th. Truist Financial cut their price target on shares of Wintrust Financial from $87.00 to $80.00 in a report on Monday, April 24th. Keefe, Bruyette & Woods decreased their price objective on shares of Wintrust Financial from $110.00 to $94.00 and set an “outperform” rating for the company in a report on Thursday, April 6th. Finally, UBS Group reduced their price target on shares of Wintrust Financial from $76.00 to $75.00 in a research report on Tuesday, April 25th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wintrust Financial presently has a consensus rating of “Moderate Buy” and an average target price of $94.73.

Wintrust Financial Profile

(Get Rating)

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.