Victory Capital Management Inc. Reduces Stake in Wintrust Financial Corporation $WTFC

Victory Capital Management Inc. cut its holdings in shares of Wintrust Financial Corporation (NASDAQ:WTFC) by 19.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 780,275 shares of the bank’s stock after selling 182,698 shares during the period. Victory Capital Management Inc. owned 1.17% of Wintrust Financial worth $103,340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new position in Wintrust Financial during the 3rd quarter valued at $27,000. Advisors Asset Management Inc. purchased a new stake in shares of Wintrust Financial in the 1st quarter worth about $27,000. Richardson Financial Services Inc. boosted its stake in shares of Wintrust Financial by 75.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 312 shares of the bank’s stock valued at $41,000 after purchasing an additional 134 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Wintrust Financial during the third quarter valued at about $41,000. Finally, State of Wyoming bought a new position in Wintrust Financial in the second quarter worth about $41,000. Hedge funds and other institutional investors own 93.48% of the company’s stock.

Wintrust Financial Stock Up 0.1%

Shares of NASDAQ:WTFC opened at $145.35 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $148.63 and a two-hundred day simple moving average of $138.61. Wintrust Financial Corporation has a 12-month low of $89.10 and a 12-month high of $162.96. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 12.75 and a beta of 0.85.

Wintrust Financial (NASDAQ:WTFC) last released its earnings results on Tuesday, January 20th. The bank reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. The firm had revenue of $714.26 million for the quarter, compared to analysts’ expectations of $700.85 million. Wintrust Financial had a return on equity of 12.95% and a net margin of 19.48%.During the same period in the prior year, the firm posted $2.63 earnings per share. On average, research analysts anticipate that Wintrust Financial Corporation will post 10.36 earnings per share for the current fiscal year.

Wintrust Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.5%. This is a boost from Wintrust Financial’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, February 5th. Wintrust Financial’s dividend payout ratio is presently 19.30%.

Insider Transactions at Wintrust Financial

In other news, CFO David L. Stoehr sold 2,499 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $146.16, for a total transaction of $365,253.84. Following the sale, the chief financial officer owned 18,638 shares in the company, valued at $2,724,130.08. This represents a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kathleen M. Boege sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $146.38, for a total transaction of $731,900.00. Following the completion of the transaction, the executive vice president owned 22,883 shares of the company’s stock, valued at approximately $3,349,613.54. The trade was a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 11,662 shares of company stock valued at $1,705,730. 1.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on WTFC shares. DA Davidson upped their target price on Wintrust Financial from $165.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Barclays upped their price target on Wintrust Financial from $178.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, January 22nd. Citigroup increased their price objective on Wintrust Financial from $167.00 to $178.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Piper Sandler boosted their target price on shares of Wintrust Financial from $161.00 to $184.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. Finally, Truist Financial upped their target price on shares of Wintrust Financial from $158.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $165.31.

About Wintrust Financial

Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.

The firm’s core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.