Granite Investment Partners LLC reduced its stake in Wintrust Financial Corporation (NASDAQ:WTFC – Free Report) by 5.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 153,453 shares of the bank’s stock after selling 9,535 shares during the period. Wintrust Financial accounts for approximately 1.3% of Granite Investment Partners LLC’s investment portfolio, making the stock its 13th largest position. Granite Investment Partners LLC’s holdings in Wintrust Financial were worth $21,321,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Choreo LLC boosted its position in shares of Wintrust Financial by 3.4% during the 4th quarter. Choreo LLC now owns 2,121 shares of the bank’s stock valued at $299,000 after acquiring an additional 69 shares during the last quarter. MeadowBrook Investment Advisors LLC grew its holdings in shares of Wintrust Financial by 3.0% in the first quarter. MeadowBrook Investment Advisors LLC now owns 2,545 shares of the bank’s stock valued at $354,000 after purchasing an additional 75 shares during the period. GAMMA Investing LLC increased its position in Wintrust Financial by 4.6% during the fourth quarter. GAMMA Investing LLC now owns 1,755 shares of the bank’s stock worth $245,000 after purchasing an additional 77 shares during the last quarter. Quadrant Capital Group LLC increased its position in Wintrust Financial by 0.9% during the fourth quarter. Quadrant Capital Group LLC now owns 8,914 shares of the bank’s stock worth $1,246,000 after purchasing an additional 83 shares during the last quarter. Finally, Cresset Asset Management LLC raised its stake in Wintrust Financial by 2.4% during the third quarter. Cresset Asset Management LLC now owns 3,730 shares of the bank’s stock worth $494,000 after purchasing an additional 88 shares during the period. 93.48% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $188.00 target price (up from $184.00) on shares of Wintrust Financial in a report on Wednesday, April 22nd. TD Cowen raised their price target on shares of Wintrust Financial from $173.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. DA Davidson reaffirmed a “buy” rating and set a $185.00 price target on shares of Wintrust Financial in a research report on Tuesday, June 30th. Royal Bank Of Canada upped their price objective on Wintrust Financial from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Citigroup increased their price objective on Wintrust Financial from $178.00 to $182.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Wintrust Financial has an average rating of “Moderate Buy” and a consensus target price of $172.17.
Insider Transactions at Wintrust Financial
In other news, COO David A. Dykstra sold 9,579 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $148.82, for a total transaction of $1,425,546.78. Following the completion of the transaction, the chief operating officer directly owned 179,810 shares in the company, valued at $26,759,324.20. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Suzet M. Mckinney sold 500 shares of Wintrust Financial stock in a transaction on Monday, May 4th. The shares were sold at an average price of $148.96, for a total value of $74,480.00. Following the completion of the sale, the director directly owned 3,303 shares of the company’s stock, valued at $492,014.88. The trade was a 13.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,099 shares of company stock worth $1,954,386 over the last ninety days. Company insiders own 1.24% of the company’s stock.
Wintrust Financial Stock Performance
Shares of WTFC stock opened at $158.42 on Thursday. The firm’s 50 day moving average price is $153.52 and its 200-day moving average price is $147.92. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 0.98. Wintrust Financial Corporation has a one year low of $119.61 and a one year high of $164.00. The firm has a market cap of $10.69 billion, a P/E ratio of 13.28 and a beta of 0.84.
Wintrust Financial (NASDAQ:WTFC – Get Free Report) last posted its earnings results on Monday, April 20th. The bank reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.96 by $0.26. The firm had revenue of $713.17 million during the quarter, compared to the consensus estimate of $707.23 million. Wintrust Financial had a net margin of 20.11% and a return on equity of 13.15%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.69 EPS. As a group, equities research analysts predict that Wintrust Financial Corporation will post 13.09 EPS for the current year.
Wintrust Financial Profile
Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.
The firm’s core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.
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