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

Legacy Trust acquired a new stake in Wintrust Financial Corporation (NASDAQ:WTFC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,297 shares of the bank’s stock, valued at approximately $1,112,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Wintrust Financial during the 2nd quarter valued at about $1,058,088,000. Bank of America Corp DE purchased a new stake in shares of Wintrust Financial in the 2nd quarter worth approximately $168,021,000. Jupiter Topco LLC purchased a new stake in shares of Wintrust Financial in the 2nd quarter worth approximately $92,734,000. Bank of New York Mellon Corp purchased a new stake in shares of Wintrust Financial in the 2nd quarter worth approximately $92,391,000. Finally, First Trust Advisors LP boosted its stake in shares of Wintrust Financial by 26.6% during the first quarter. First Trust Advisors LP now owns 1,830,268 shares of the bank’s stock valued at $254,297,000 after purchasing an additional 385,069 shares in the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wintrust Financial

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

Wintrust Financial Stock Down 0.4%

WTFC stock opened at $154.37 on Friday. The stock 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. Wintrust Financial Corporation has a 52 week low of $122.00 and a 52 week high of $167.21. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $148.52 and a 200 day moving average of $150.53.

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

Wintrust Financial Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on WTFC. Deutsche Bank started coverage on Wintrust Financial in a report on Monday, October 12th. They set a “buy” rating and a $175.00 target price for the company. DA Davidson set a $180.00 price target on Wintrust Financial in a report on Tuesday, October 20th. Capital One Financial set a $170.00 price target on Wintrust Financial in a report on Tuesday, July 21st. TD Cowen boosted their price target on Wintrust Financial from $173.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Finally, Truist Financial decreased their price objective on Wintrust Financial from $183.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, October 26th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.86.

About Wintrust Financial

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.