Huntington National Bank Purchases 3,348 Shares of Wintrust Financial Co. (NASDAQ:WTFC)

Huntington National Bank grew its holdings in Wintrust Financial Co. (NASDAQ:WTFC) by 675.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,844 shares of the bank’s stock after purchasing an additional 3,348 shares during the quarter. Huntington National Bank’s holdings in Wintrust Financial were worth $417,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Chartwell Investment Partners LLC boosted its position in shares of Wintrust Financial by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 11,049 shares of the bank’s stock valued at $1,200,000 after purchasing an additional 89 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Wintrust Financial by 11.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 866 shares of the bank’s stock worth $85,000 after purchasing an additional 91 shares in the last quarter. Shaker Investments LLC OH raised its position in Wintrust Financial by 0.3% in the 3rd quarter. Shaker Investments LLC OH now owns 28,928 shares of the bank’s stock valued at $3,140,000 after buying an additional 96 shares during the last quarter. US Bancorp DE raised its holdings in shares of Wintrust Financial by 0.5% in the third quarter. US Bancorp DE now owns 24,716 shares of the bank’s stock valued at $2,682,000 after purchasing an additional 126 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its stake in Wintrust Financial by 1.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 10,304 shares of the bank’s stock valued at $1,016,000 after buying an additional 145 shares during the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.

Analyst Ratings Changes

WTFC has been the topic of a number of research reports. Truist Financial lifted their price target on shares of Wintrust Financial from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Piper Sandler increased their price target on shares of Wintrust Financial from $131.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Raymond James lifted their price objective on Wintrust Financial from $125.00 to $135.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $130.00 target price on shares of Wintrust Financial in a research report on Tuesday, October 22nd. Finally, Citigroup upped their price objective on Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wintrust Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Transactions at Wintrust Financial

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

Wintrust Financial Price Performance

WTFC opened at $131.76 on Friday. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 13.80 and a beta of 1.15. The business’s fifty day simple moving average is $113.19 and its 200-day simple moving average is $105.08. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.73. Wintrust Financial Co. has a 12-month low of $82.90 and a 12-month high of $136.08.

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

Wintrust Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 7th will be paid a $0.45 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. Wintrust Financial’s dividend payout ratio is presently 18.85%.

Wintrust Financial Company 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.