Wintrust Financial Co. (NASDAQ:WTFC) Shares Sold by Principal Financial Group Inc.

Posted by on Aug 25th, 2023

Principal Financial Group Inc. lessened its position in shares of Wintrust Financial Co. (NASDAQ:WTFC – Free Report) by 7.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 240,411 shares of the bank’s stock after selling 19,271 shares during the quarter. Principal Financial Group Inc. owned approximately 0.39% of Wintrust Financial worth $17,538,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WTFC. CWM LLC raised its stake in shares of Wintrust Financial by 192.7% during the 1st quarter. CWM LLC now owns 521 shares of the bank’s stock worth $38,000 after buying an additional 343 shares during the last quarter. Parallel Advisors LLC raised its stake in Wintrust Financial by 113.2% in the 1st quarter. Parallel Advisors LLC now owns 580 shares of the bank’s stock valued at $42,000 after purchasing an additional 308 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Wintrust Financial in the 4th quarter valued at about $44,000. Parkside Financial Bank & Trust raised its stake in Wintrust Financial by 33.6% in the 1st quarter. Parkside Financial Bank & Trust now owns 768 shares of the bank’s stock valued at $56,000 after purchasing an additional 193 shares during the last quarter. Finally, CoreCap Advisors LLC acquired a new position in Wintrust Financial in the 4th quarter valued at about $81,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

Wintrust Financial Stock Up 0.4 %

Shares of NASDAQ:WTFC opened at $76.76 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 0.99. Wintrust Financial Co. has a 1 year low of $57.48 and a 1 year high of $97.81. The stock has a market capitalization of $4.70 billion, a P/E ratio of 7.98 and a beta of 1.21. The stock has a 50-day simple moving average of $77.84 and a 200-day simple moving average of $75.88.

Wintrust Financial (NASDAQ:WTFC – Get Free Report) last issued its earnings results on Thursday, July 20th. The bank reported $2.38 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.38. Wintrust Financial had a return on equity of 13.96% and a net margin of 22.24%. The business had revenue of $810.21 million during the quarter, compared to analysts’ expectations of $555.16 million. During the same quarter in the previous year, the business earned $1.49 EPS. Equities analysts forecast that Wintrust Financial Co. will post 9.94 earnings per share for the current year.

Wintrust Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Wednesday, August 9th. Wintrust Financial’s payout ratio is currently 16.63%.

Analyst Upgrades and Downgrades

WTFC has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Wintrust Financial from $92.00 to $101.00 in a research note on Friday, July 21st. Truist Financial boosted their target price on shares of Wintrust Financial from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, July 24th. Raymond James lifted their price target on Wintrust Financial from $95.00 to $100.00 and gave the company a “strong-buy” rating in a report on Friday, July 21st. Stephens restated an “overweight” rating and issued a $90.00 price target on shares of Wintrust Financial in a report on Thursday, July 20th. Finally, StockNews.com started coverage on Wintrust Financial in a report on Thursday, August 17th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wintrust Financial currently has a consensus rating of “Buy” and an average target price of $94.60.

Read Our Latest Stock Report on WTFC

Wintrust Financial Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Wintrust Financial (NASDAQ:WTFC)

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