Louisiana State Employees Retirement System boosted its holdings in Wintrust Financial Co. (NASDAQ:WTFC – Free Report) by 11.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,900 shares of the bank’s stock after acquiring an additional 1,800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Wintrust Financial were worth $1,300,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Channing Capital Management LLC purchased a new position in shares of Wintrust Financial in the 1st quarter worth about $49,463,000. Norges Bank purchased a new position in shares of Wintrust Financial in the 4th quarter worth about $54,595,000. Morgan Stanley boosted its holdings in shares of Wintrust Financial by 148.9% in the 4th quarter. Morgan Stanley now owns 883,347 shares of the bank’s stock worth $74,661,000 after purchasing an additional 528,449 shares in the last quarter. Strategic Wealth Investment Group LLC boosted its holdings in shares of Wintrust Financial by 10,078.4% in the 1st quarter. Strategic Wealth Investment Group LLC now owns 509,226 shares of the bank’s stock worth $365,000 after purchasing an additional 504,223 shares in the last quarter. Finally, GW&K Investment Management LLC purchased a new position in shares of Wintrust Financial in the 1st quarter worth about $30,420,000. 92.00% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on WTFC. Stephens reiterated an “overweight” rating and issued a $90.00 price objective on shares of Wintrust Financial in a report on Thursday, July 20th. Raymond James increased their price objective on Wintrust Financial from $95.00 to $100.00 and gave the stock a “strong-buy” rating in a report on Friday, July 21st. DA Davidson increased their target price on Wintrust Financial from $82.00 to $96.00 in a research report on Friday, July 21st. Wedbush increased their target price on Wintrust Financial from $86.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 21st. Finally, Truist Financial decreased their target price on Wintrust Financial from $92.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, September 27th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $94.00.
Wintrust Financial Stock Down 2.4 %
WTFC stock opened at $72.57 on Wednesday. Wintrust Financial Co. has a twelve month low of $57.48 and a twelve month high of $97.81. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.73. The firm has a market cap of $4.44 billion, a PE ratio of 7.54 and a beta of 1.21. The business has a 50 day moving average of $78.71 and a 200 day moving average of $73.35.
Wintrust Financial (NASDAQ:WTFC – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $2.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.38. The company had revenue of $810.21 million during the quarter, compared to analyst estimates of $555.16 million. Wintrust Financial had a return on equity of 13.96% and a net margin of 22.24%. During the same quarter last year, the company earned $1.49 EPS. On average, research analysts forecast that Wintrust Financial Co. will post 9.96 EPS for the current fiscal year.
Wintrust Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Wednesday, August 9th. Wintrust Financial’s payout ratio is 16.63%.
Wintrust Financial Company 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.
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