Stifel Financial Corp Reduces Holdings in Wintrust Financial Co. (NASDAQ:WTFC)

Stifel Financial Corp trimmed its stake in Wintrust Financial Co. (NASDAQ:WTFC) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,896 shares of the bank’s stock after selling 958 shares during the period. Stifel Financial Corp’s holdings in Wintrust Financial were worth $6,066,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Wintrust Financial by 36.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 802,841 shares of the bank’s stock worth $87,132,000 after purchasing an additional 213,559 shares during the period. Choreo LLC purchased a new stake in shares of Wintrust Financial in the 2nd quarter worth about $1,115,000. Allspring Global Investments Holdings LLC lifted its position in shares of Wintrust Financial by 7.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,285 shares of the bank’s stock worth $22,063,000 after purchasing an additional 14,699 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Wintrust Financial by 13.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 237,311 shares of the bank’s stock worth $25,755,000 after purchasing an additional 28,727 shares during the period. Finally, LMR Partners LLP purchased a new position in Wintrust Financial during the 3rd quarter valued at about $499,000. 93.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Wintrust Financial

In other Wintrust Financial news, insider Richard B. Murphy sold 4,099 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $115.63, for a total value of $473,967.37. Following the completion of the transaction, the insider now directly owns 42,311 shares in the company, valued at $4,892,420.93. This represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David L. Stoehr sold 1,607 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $113.46, for a total transaction of $182,330.22. Following the completion of the transaction, the chief financial officer now owns 14,874 shares of the company’s stock, valued at approximately $1,687,604.04. The trade was a 9.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,198 shares of company stock worth $2,445,314. 1.47% of the stock is owned by company insiders.

Wintrust Financial Stock Performance

Shares of WTFC stock opened at $131.41 on Friday. The company has a 50 day moving average price of $124.79 and a 200-day moving average price of $109.88. Wintrust Financial Co. has a 52 week low of $89.68 and a 52 week high of $142.04. The firm has a market capitalization of $8.74 billion, a PE ratio of 13.76 and a beta of 1.18. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.73.

Wintrust Financial (NASDAQ:WTFC) last announced its earnings results on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.03). The business had revenue of $615.73 million for the quarter, compared to the consensus estimate of $623.45 million. Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.53 earnings per share. As a group, equities research analysts expect that Wintrust Financial Co. will post 10.12 earnings per share for the current year.

Wintrust Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 7th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.80 annualized dividend and a yield of 1.37%. Wintrust Financial’s dividend payout ratio (DPR) is 18.85%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WTFC. Barclays lifted their price target on shares of Wintrust Financial from $130.00 to $151.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Truist Financial lifted their price target on shares of Wintrust Financial from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price target on shares of Wintrust Financial from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Piper Sandler lifted their price target on shares of Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Raymond James lifted their price target on shares of Wintrust Financial from $125.00 to $135.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $124.62.

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.