Commonwealth Equity Services LLC Raises Stake in Wintrust Financial Corp (WTFC)
Commonwealth Equity Services LLC raised its holdings in shares of Wintrust Financial Corp (NASDAQ:WTFC) by 11.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,020 shares of the bank’s stock after buying an additional 826 shares during the period. Commonwealth Equity Services LLC’s holdings in Wintrust Financial were worth $681,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of WTFC. Millennium Management LLC grew its stake in shares of Wintrust Financial by 741.4% during the 2nd quarter. Millennium Management LLC now owns 1,523,131 shares of the bank’s stock worth $132,589,000 after acquiring an additional 1,342,106 shares in the last quarter. Citadel Advisors LLC boosted its holdings in shares of Wintrust Financial by 7,576.1% in the 2nd quarter. Citadel Advisors LLC now owns 300,749 shares of the bank’s stock valued at $26,180,000 after buying an additional 296,831 shares during the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of Wintrust Financial by 2,766.3% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 186,453 shares of the bank’s stock valued at $16,231,000 after buying an additional 179,948 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Wintrust Financial by 1,386.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 192,609 shares of the bank’s stock valued at $1,509,000 after buying an additional 179,653 shares during the last quarter. Finally, Standard Life Aberdeen plc boosted its holdings in shares of Wintrust Financial by 50.3% in the 2nd quarter. Standard Life Aberdeen plc now owns 485,039 shares of the bank’s stock valued at $42,216,000 after buying an additional 162,409 shares during the last quarter. 88.04% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised Wintrust Financial from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Tuesday, October 23rd. BidaskClub raised Wintrust Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 12th. Stephens raised Wintrust Financial from an “equal” rating to a “weight” rating in a report on Monday, October 15th. ValuEngine downgraded Wintrust Financial from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Finally, Raymond James cut their price objective on Wintrust Financial from $100.00 to $96.00 and set a “strong-buy” rating for the company in a report on Friday, October 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $95.00.
Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings results on Wednesday, October 17th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.03. Wintrust Financial had a return on equity of 11.27% and a net margin of 22.70%. The business had revenue of $347.49 million during the quarter, compared to the consensus estimate of $342.18 million. During the same quarter last year, the firm posted $1.12 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. On average, sell-side analysts forecast that Wintrust Financial Corp will post 6.06 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Thursday, November 8th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, November 7th. Wintrust Financial’s dividend payout ratio is 17.27%.
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Wintrust Financial Company Profile
Wintrust Financial Corporation operates as a financial holding company in the Chicago metropolitan area, southern Wisconsin, and northwest Indiana. 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), Internet banking, and other services.
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