Wintrust Financial Co. (NASDAQ:WTFC) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC reduced its stake in Wintrust Financial Co. (NASDAQ:WTFC) by 11.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 282,324 shares of the bank’s stock after selling 35,231 shares during the period. Wintrust Financial makes up about 1.2% of Granite Investment Partners LLC’s holdings, making the stock its 17th largest holding. Granite Investment Partners LLC owned about 0.42% of Wintrust Financial worth $27,826,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of WTFC. Principal Securities Inc. acquired a new stake in Wintrust Financial in the fourth quarter valued at $59,000. Envestnet Portfolio Solutions Inc. raised its stake in Wintrust Financial by 6.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,011 shares of the bank’s stock valued at $372,000 after buying an additional 232 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Wintrust Financial by 109.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,868 shares of the bank’s stock valued at $544,000 after buying an additional 3,073 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Wintrust Financial by 11.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,104 shares of the bank’s stock valued at $566,000 after buying an additional 614 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in Wintrust Financial in the fourth quarter valued at $1,099,000. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on WTFC shares. Piper Sandler raised their price objective on Wintrust Financial from $113.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. DA Davidson raised their price objective on Wintrust Financial from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Hovde Group reissued a “market perform” rating and set a $100.00 price target on shares of Wintrust Financial in a report on Friday, June 21st. Keefe, Bruyette & Woods lowered Wintrust Financial from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $110.00 to $115.00 in a report on Friday, July 19th. Finally, Royal Bank of Canada raised their price target on Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wintrust Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.85.

Wintrust Financial Trading Up 2.2 %

Shares of Wintrust Financial stock opened at $110.20 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.99 and a quick ratio of 0.99. Wintrust Financial Co. has a 1 year low of $71.86 and a 1 year high of $113.68. The company has a market capitalization of $6.81 billion, a P/E ratio of 11.40 and a beta of 1.16. The business has a 50 day moving average price of $104.62 and a 200 day moving average price of $100.45.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings data on Wednesday, July 17th. The bank reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.10). The company had revenue of $591.76 million for the quarter, compared to analyst estimates of $587.33 million. Wintrust Financial had a return on equity of 12.71% and a net margin of 17.02%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.38 earnings per share. Sell-side analysts anticipate that Wintrust Financial Co. will post 10.11 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.45 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.80 annualized dividend and a yield of 1.63%. Wintrust Financial’s payout ratio is currently 18.61%.

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.