Thrivent Financial for Lutherans Sells 9,221 Shares of Wintrust Financial Co. (NASDAQ:WTFC)

Thrivent Financial for Lutherans trimmed its stake in Wintrust Financial Co. (NASDAQ:WTFC) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 228,861 shares of the bank’s stock after selling 9,221 shares during the period. Thrivent Financial for Lutherans owned 0.37% of Wintrust Financial worth $22,557,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of WTFC. Sei Investments Co. lifted its holdings in Wintrust Financial by 25.2% in the second quarter. Sei Investments Co. now owns 148,151 shares of the bank’s stock worth $14,602,000 after buying an additional 29,839 shares during the period. Intech Investment Management LLC purchased a new position in shares of Wintrust Financial in the 2nd quarter valued at approximately $446,000. Inspire Investing LLC lifted its stake in shares of Wintrust Financial by 4.4% in the 2nd quarter. Inspire Investing LLC now owns 3,574 shares of the bank’s stock valued at $352,000 after purchasing an additional 151 shares during the period. XTX Topco Ltd bought a new stake in shares of Wintrust Financial during the second quarter valued at approximately $265,000. Finally, Hsbc Holdings PLC grew its stake in Wintrust Financial by 910.1% in the second quarter. Hsbc Holdings PLC now owns 20,181 shares of the bank’s stock worth $1,976,000 after purchasing an additional 18,183 shares during the period. Institutional investors own 93.48% of the company’s stock.

Wintrust Financial Price Performance

Shares of NASDAQ:WTFC opened at $108.21 on Tuesday. The business has a 50-day simple moving average of $104.87 and a two-hundred day simple moving average of $100.69. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 11.19 and a beta of 1.16. Wintrust Financial Co. has a fifty-two week low of $71.86 and a fifty-two week high of $113.68.

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

Wintrust Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Thursday, August 8th. Wintrust Financial’s payout ratio is currently 18.61%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WTFC shares. Wedbush boosted their target price on shares of Wintrust Financial from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Royal Bank of Canada upped their price objective on shares of Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Piper Sandler lifted their target price on shares of Wintrust Financial from $113.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods downgraded Wintrust Financial from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $110.00 to $115.00 in a research note on Friday, July 19th. Finally, Hovde Group reiterated a “market perform” rating and set a $100.00 price objective on shares of Wintrust Financial in a research note on Friday, June 21st. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.23.

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.