abrdn plc Reduces Stake in Wintrust Financial Co. (NASDAQ:WTFC)

abrdn plc cut its holdings in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 335,224 shares of the bank’s stock after selling 9,407 shares during the period. abrdn plc owned 0.55% of Wintrust Financial worth $31,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WTFC. Allspring Global Investments Holdings LLC increased its position in Wintrust Financial by 2,131.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 73,913 shares of the bank’s stock valued at $6,855,000 after purchasing an additional 70,601 shares during the period. UBS Group AG increased its position in shares of Wintrust Financial by 61.3% during the third quarter. UBS Group AG now owns 32,210 shares of the bank’s stock valued at $2,432,000 after buying an additional 12,243 shares during the period. Boston Partners raised its stake in Wintrust Financial by 13.4% in the third quarter. Boston Partners now owns 644,050 shares of the bank’s stock worth $48,549,000 after buying an additional 75,994 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new stake in Wintrust Financial in the third quarter worth about $476,000. Finally, Rhumbline Advisers grew its holdings in shares of Wintrust Financial by 10.5% during the 3rd quarter. Rhumbline Advisers now owns 221,891 shares of the bank’s stock worth $16,753,000 after acquiring an additional 21,098 shares during the period. Institutional investors own 93.48% of the company’s stock.

Wintrust Financial Price Performance

Shares of WTFC opened at $99.30 on Tuesday. The firm has a fifty day simple moving average of $98.25 and a two-hundred day simple moving average of $91.16. The firm has a market cap of $6.13 billion, a PE ratio of 10.27 and a beta of 1.21. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.78. Wintrust Financial Co. has a 1-year low of $58.12 and a 1-year high of $105.29.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.47. The company had revenue of $604.77 million during the quarter, compared to analysts’ expectations of $577.80 million. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. Wintrust Financial’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.80 earnings per share. On average, equities analysts anticipate that Wintrust Financial Co. will post 10.02 EPS for the current year.

Wintrust Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were issued a $0.45 dividend. This is an increase from Wintrust Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.81%. Wintrust Financial’s dividend payout ratio (DPR) is presently 18.61%.

Insider Activity at Wintrust Financial

In other news, EVP Jeffrey D. Hahnfeld sold 588 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $97.88, for a total transaction of $57,553.44. Following the completion of the sale, the executive vice president now owns 3,410 shares of the company’s stock, valued at approximately $333,770.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Jeffrey D. Hahnfeld sold 588 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $97.88, for a total value of $57,553.44. Following the transaction, the executive vice president now owns 3,410 shares of the company’s stock, valued at $333,770.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward J. Wehmer sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $99.36, for a total value of $943,920.00. Following the transaction, the insider now owns 177,124 shares of the company’s stock, valued at $17,599,040.64. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WTFC has been the subject of a number of research analyst reports. Citigroup lowered their target price on Wintrust Financial from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Monday. UBS Group boosted their target price on shares of Wintrust Financial from $105.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Truist Financial lowered their price target on shares of Wintrust Financial from $117.00 to $112.00 and set a “buy” rating for the company in a research report on Monday. Wedbush reissued an “outperform” rating and set a $116.00 price objective on shares of Wintrust Financial in a research note on Thursday, April 18th. Finally, Jefferies Financial Group raised their target price on shares of Wintrust Financial from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $112.33.

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.