Northwestern Mutual Wealth Management Co. Raises Stake in Wintrust Financial Co. (NASDAQ:WTFC)

Northwestern Mutual Wealth Management Co. increased its holdings in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 135.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,093 shares of the bank’s stock after purchasing an additional 7,534 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Wintrust Financial were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of WTFC. Vanguard Group Inc. raised its position in Wintrust Financial by 3.9% during the first quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock valued at $673,603,000 after acquiring an additional 244,168 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Wintrust Financial by 13.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 538,489 shares of the bank’s stock worth $49,945,000 after acquiring an additional 65,179 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Wintrust Financial by 157.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 190,416 shares of the bank’s stock worth $19,878,000 after acquiring an additional 116,503 shares in the last quarter. Capital International Investors grew its position in shares of Wintrust Financial by 4.6% during the 1st quarter. Capital International Investors now owns 1,638,085 shares of the bank’s stock valued at $171,000,000 after acquiring an additional 72,082 shares during the period. Finally, Reinhart Partners LLC. increased its stake in shares of Wintrust Financial by 2.1% in the 1st quarter. Reinhart Partners LLC. now owns 731,345 shares of the bank’s stock valued at $76,345,000 after purchasing an additional 15,240 shares in the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.

Wintrust Financial Stock Performance

NASDAQ:WTFC opened at $106.60 on Friday. The company’s 50-day moving average is $104.38 and its two-hundred day moving average is $101.21. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 11.02 and a beta of 1.16. 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.

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 the consensus estimate of $2.42 by ($0.10). Wintrust Financial had a return on equity of 12.71% and a net margin of 17.02%. The business had revenue of $591.76 million during the quarter, compared to analysts’ expectations of $587.33 million. During the same quarter in the previous year, the company posted $2.38 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. Analysts forecast that Wintrust Financial Co. will post 10.09 EPS for the current year.

Wintrust Financial Dividend Announcement

The business 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. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.80 annualized dividend and a yield of 1.69%. Wintrust Financial’s dividend payout ratio (DPR) is currently 18.61%.

Analyst Ratings Changes

A number of research firms have recently commented on WTFC. DA Davidson boosted their price objective on Wintrust Financial from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Wedbush upped their price objective on shares of Wintrust Financial from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Truist Financial lifted their target price on shares of Wintrust Financial from $118.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Keefe, Bruyette & Woods cut Wintrust Financial from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $110.00 to $115.00 in a research report on Friday, July 19th. Finally, Royal Bank of Canada lifted their target price on shares of Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $118.23.

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.