Comerica Bank Has $3.36 Million Stake in Wintrust Financial Corporation (WTFC)
Comerica Bank decreased its position in Wintrust Financial Corporation (NASDAQ:WTFC) by 25.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,720 shares of the bank’s stock after selling 14,904 shares during the period. Comerica Bank owned about 0.08% of Wintrust Financial Corporation worth $3,364,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its position in shares of Wintrust Financial Corporation by 21,214.8% in the first quarter. BlackRock Inc. now owns 6,110,097 shares of the bank’s stock worth $422,330,000 after buying an additional 6,081,431 shares during the period. State Street Corp raised its position in shares of Wintrust Financial Corporation by 57.1% in the first quarter. State Street Corp now owns 2,863,254 shares of the bank’s stock worth $197,915,000 after buying an additional 1,040,715 shares during the period. JPMorgan Chase & Co. raised its position in shares of Wintrust Financial Corporation by 189.4% in the first quarter. JPMorgan Chase & Co. now owns 1,610,423 shares of the bank’s stock worth $111,312,000 after buying an additional 1,053,900 shares during the period. Hermes Investment Management Ltd. raised its position in shares of Wintrust Financial Corporation by 1.0% in the second quarter. Hermes Investment Management Ltd. now owns 1,009,540 shares of the bank’s stock worth $77,169,000 after buying an additional 9,605 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Wintrust Financial Corporation by 4.6% in the first quarter. Ameriprise Financial Inc. now owns 732,232 shares of the bank’s stock worth $50,613,000 after buying an additional 32,140 shares during the period. Institutional investors own 90.64% of the company’s stock.
Shares of Wintrust Financial Corporation (NASDAQ:WTFC) opened at 72.81 on Friday. The stock has a 50 day moving average price of $74.50 and a 200 day moving average price of $72.83. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 18.36 and a beta of 0.81. Wintrust Financial Corporation has a one year low of $51.65 and a one year high of $80.52.
Wintrust Financial Corporation (NASDAQ:WTFC) last released its quarterly earnings results on Tuesday, July 18th. The bank reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.12. The firm had revenue of $294.38 million during the quarter, compared to analysts’ expectations of $279.69 million. Wintrust Financial Corporation had a return on equity of 9.15% and a net margin of 19.24%. The business’s revenue was up 13.2% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. On average, equities research analysts forecast that Wintrust Financial Corporation will post $4.30 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were given a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.56 dividend on an annualized basis and a yield of 0.77%. Wintrust Financial Corporation’s payout ratio is 14.11%.
A number of research analysts have issued reports on WTFC shares. Piper Jaffray Companies set a $72.00 price target on Wintrust Financial Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 18th. ValuEngine upgraded Wintrust Financial Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. BidaskClub lowered Wintrust Financial Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Hovde Group reiterated a “market perform” rating and set a $80.00 price target (up previously from $76.50) on shares of Wintrust Financial Corporation in a research report on Wednesday, August 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $89.00 price target on shares of Wintrust Financial Corporation in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Wintrust Financial Corporation presently has an average rating of “Hold” and an average target price of $79.86.
In other Wintrust Financial Corporation news, insider Edward J. Wehmer sold 29,779 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $76.89, for a total value of $2,289,707.31. Following the transaction, the insider now directly owns 137,352 shares in the company, valued at approximately $10,560,995.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary D. Sweeney acquired 485 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was purchased at an average price of $77.12 per share, for a total transaction of $37,403.20. Following the completion of the transaction, the director now directly owns 2,186 shares in the company, valued at approximately $168,584.32. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by company insiders.
Wintrust Financial Corporation Company Profile
Wintrust Financial Corporation is a financial holding company. The Company conducts its businesses through three segments: community banking, specialty finance and wealth management. The Company offers community banking services to individuals, small to mid-sized businesses, local governmental units and institutional clients.
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