Corebridge Financial Inc. Cuts Position in Wintrust Financial Co. (NASDAQ:WTFC)

Corebridge Financial Inc. lessened its position in Wintrust Financial Co. (NASDAQ:WTFC) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,226 shares of the bank’s stock after selling 3,401 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Wintrust Financial worth $9,381,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in WTFC. FMR LLC increased its position in shares of Wintrust Financial by 14.1% during the 3rd quarter. FMR LLC now owns 5,153,999 shares of the bank’s stock valued at $559,364,000 after purchasing an additional 637,072 shares during the last quarter. Sei Investments Co. raised its stake in shares of Wintrust Financial by 261.4% during the fourth quarter. Sei Investments Co. now owns 698,628 shares of the bank’s stock worth $87,126,000 after acquiring an additional 505,293 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Wintrust Financial in the 4th quarter worth approximately $40,562,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Wintrust Financial by 36.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 802,841 shares of the bank’s stock valued at $87,132,000 after purchasing an additional 213,559 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Wintrust Financial by 11.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,308,254 shares of the bank’s stock valued at $141,981,000 after purchasing an additional 133,311 shares during the last quarter. Hedge funds and other institutional investors own 93.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on WTFC shares. Truist Financial upgraded shares of Wintrust Financial to a “strong-buy” rating in a research report on Monday, January 6th. Piper Sandler increased their target price on Wintrust Financial from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $152.00 price target on shares of Wintrust Financial in a research note on Thursday, January 23rd. UBS Group assumed coverage on Wintrust Financial in a research note on Tuesday, December 17th. They set a “buy” rating and a $157.00 price objective for the company. Finally, Barclays lifted their target price on shares of Wintrust Financial from $151.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.69.

Wintrust Financial Stock Performance

Shares of WTFC opened at $114.95 on Thursday. The company has a 50-day simple moving average of $123.86 and a two-hundred day simple moving average of $122.16. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.00. The firm has a market capitalization of $7.67 billion, a PE ratio of 11.15 and a beta of 1.16. Wintrust Financial Co. has a one year low of $91.38 and a one year high of $142.04.

Wintrust Financial (NASDAQ:WTFC) last released its earnings results on Tuesday, January 21st. The bank reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.11. Wintrust Financial had a return on equity of 12.60% and a net margin of 17.52%. During the same period in the previous year, the firm posted $1.87 earnings per share. On average, analysts anticipate that Wintrust Financial Co. will post 10.36 EPS for the current fiscal year.

Wintrust Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This is an increase from Wintrust Financial’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.74%. Wintrust Financial’s dividend payout ratio is currently 19.40%.

Insider Activity at Wintrust Financial

In other Wintrust Financial news, insider Richard B. Murphy sold 3,186 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $131.30, for a total transaction of $418,321.80. Following the completion of the sale, the insider now directly owns 48,814 shares in the company, valued at approximately $6,409,278.20. This trade represents a 6.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David L. Stoehr sold 2,363 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $131.32, for a total transaction of $310,309.16. Following the completion of the transaction, the chief financial officer now owns 19,858 shares of the company’s stock, valued at approximately $2,607,752.56. The trade was a 10.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,178 shares of company stock valued at $1,336,315 in the last three months. Company insiders own 1.47% of the company’s stock.

Wintrust Financial 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.