Navellier & Associates Inc. Reduces Position in Wintrust Financial Co. (NASDAQ:WTFC)

Navellier & Associates Inc. decreased its holdings in Wintrust Financial Co. (NASDAQ:WTFC) by 36.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,662 shares of the bank’s stock after selling 2,091 shares during the period. Navellier & Associates Inc.’s holdings in Wintrust Financial were worth $397,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Wintrust Financial by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock valued at $673,603,000 after purchasing an additional 244,168 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Wintrust Financial by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock worth $297,376,000 after buying an additional 146,090 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Wintrust Financial by 11.3% in the third quarter. Principal Financial Group Inc. now owns 1,308,254 shares of the bank’s stock valued at $141,981,000 after acquiring an additional 133,311 shares during the period. Federated Hermes Inc. grew its stake in Wintrust Financial by 1.8% during the second quarter. Federated Hermes Inc. now owns 815,466 shares of the bank’s stock valued at $80,372,000 after acquiring an additional 14,087 shares in the last quarter. Finally, Reinhart Partners LLC. increased its holdings in Wintrust Financial by 6.4% during the 3rd quarter. Reinhart Partners LLC. now owns 781,393 shares of the bank’s stock worth $84,805,000 after acquiring an additional 47,242 shares during the period. Institutional investors own 93.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Truist Financial raised their price target on shares of Wintrust Financial from $123.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. DA Davidson boosted their target price on Wintrust Financial from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup upped their target price on Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Raymond James boosted their price objective on Wintrust Financial from $125.00 to $135.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 23rd. Finally, Piper Sandler raised their target price on shares of Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wintrust Financial currently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Insider Transactions at Wintrust Financial

In other news, COO David A. Dykstra sold 15,492 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $115.48, for a total transaction of $1,789,016.16. Following the completion of the sale, the chief operating officer now directly owns 197,591 shares in the company, valued at approximately $22,817,808.68. This represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David L. Stoehr sold 1,607 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $113.46, for a total value of $182,330.22. Following the transaction, the chief financial officer now owns 14,874 shares in the company, valued at approximately $1,687,604.04. This represents a 9.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,198 shares of company stock worth $2,445,314. Insiders own 1.47% of the company’s stock.

Wintrust Financial Price Performance

WTFC stock opened at $137.08 on Friday. The firm has a market cap of $9.11 billion, a P/E ratio of 14.35 and a beta of 1.15. The firm’s fifty day moving average is $116.10 and its 200 day moving average is $106.19. Wintrust Financial Co. has a 52 week low of $82.90 and a 52 week high of $137.32. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.01 and a current ratio of 1.02.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings data on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.03). Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. The company had revenue of $615.73 million for the quarter, compared to the consensus estimate of $623.45 million. During the same period last year, the business posted $2.53 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts predict that Wintrust Financial Co. will post 10.12 earnings per share for the current year.

Wintrust Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, November 7th. Wintrust Financial’s dividend payout ratio (DPR) is presently 18.85%.

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.