Legacy Trust Buys 7,297 Shares of Wintrust Financial Corporation $WTFC

Legacy Trust acquired a new stake in Wintrust Financial Corporation (NASDAQ:WTFC) in the 3rd quarter, HoldingsChannel reports. The fund acquired 7,297 shares of the bank’s stock, valued at approximately $1,112,000.

Several other institutional investors and hedge funds have also modified their holdings of WTFC. BlackRock Inc. acquired a new position in Wintrust Financial in the second quarter valued at approximately $1,058,088,000. First Trust Advisors LP boosted its position in Wintrust Financial by 26.6% in the 1st quarter. First Trust Advisors LP now owns 1,830,268 shares of the bank’s stock worth $254,297,000 after purchasing an additional 385,069 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Wintrust Financial during the 2nd quarter worth approximately $168,021,000. Jupiter Topco LLC acquired a new stake in shares of Wintrust Financial during the 2nd quarter worth approximately $92,734,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Wintrust Financial during the 2nd quarter worth approximately $92,391,000. Institutional investors and hedge funds own 93.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. DA Davidson set a $180.00 price target on shares of Wintrust Financial in a report on Tuesday, October 20th. TD Cowen lifted their price objective on shares of Wintrust Financial from $173.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. Brean Capital downgraded shares of Wintrust Financial from a “buy” rating to a “neutral” rating and set a $170.00 price objective for the company. in a research report on Tuesday, July 21st. Capital One Financial set a $170.00 price objective on shares of Wintrust Financial in a research report on Tuesday, July 21st. Finally, Barclays increased their target price on shares of Wintrust Financial from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Wintrust Financial presently has a consensus rating of “Moderate Buy” and an average price target of $175.86.

Wintrust Financial Stock Down 0.4%

Shares of WTFC opened at $154.37 on Friday. Wintrust Financial Corporation has a 52-week low of $122.00 and a 52-week high of $167.21. The company has a market capitalization of $10.42 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 1.13 and a beta of 0.86. The stock has a fifty day simple moving average of $148.52 and a two-hundred day simple moving average of $150.53. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.63.

Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Monday, October 19th. The bank reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.06. Wintrust Financial had a net margin of 21.03% and a return on equity of 13.31%. The company had revenue of $757.88 million for the quarter, compared to analyst estimates of $754.54 million. During the same period in the previous year, the business posted $3.06 EPS. Wintrust Financial’s revenue was up 8.6% on a year-over-year basis. As a group, equities analysts forecast that Wintrust Financial Corporation will post 13.29 EPS for the current year.

Wintrust Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, November 5th. Wintrust Financial’s dividend payout ratio is currently 16.87%.

Insider Activity

In other Wintrust Financial news, insider Richard Murphy sold 7,136 shares of the stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $148.66, for a total transaction of $1,060,837.76. Following the sale, the insider directly owned 30,107 shares in the company, valued at $4,475,706.62. This represents a 19.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.24% of the company’s stock.

Wintrust Financial Company Profile

Wintrust Financial Corporation is a bank holding company founded in 1991 and headquartered in Rosemont, Illinois. Through a network of locally operated community banks, it serves individuals, businesses and nonprofit organizations, primarily in the Chicago area and surrounding parts of Illinois, Wisconsin and Indiana. The company offers consumer and commercial banking services, including deposit accounts, business and personal loans, cash management and treasury services. Its other businesses provide mortgage lending, wealth management and specialty finance services.