Truist Financial Corp Has $11.42 Million Stock Position in Wintrust Financial Co. (NASDAQ:WTFC)

Truist Financial Corp reduced its position in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 18.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 115,826 shares of the bank’s stock after selling 26,700 shares during the quarter. Truist Financial Corp owned about 0.17% of Wintrust Financial worth $11,416,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. EP Wealth Advisors LLC acquired a new position in shares of Wintrust Financial in the 2nd quarter valued at $367,000. Northwestern Mutual Wealth Management Co. increased its holdings in Wintrust Financial by 135.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,093 shares of the bank’s stock valued at $1,290,000 after purchasing an additional 7,534 shares during the last quarter. Creative Planning lifted its stake in Wintrust Financial by 12.3% in the second quarter. Creative Planning now owns 10,966 shares of the bank’s stock valued at $1,081,000 after buying an additional 1,200 shares during the period. Algert Global LLC bought a new position in Wintrust Financial during the second quarter worth about $613,000. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new position in shares of Wintrust Financial during the 2nd quarter worth about $2,108,000. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WTFC shares. Royal Bank of Canada increased their price target on shares of Wintrust Financial from $116.00 to $117.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Wedbush lifted their price target 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. Keefe, Bruyette & Woods lowered shares of Wintrust Financial from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $110.00 to $115.00 in a report on Friday, July 19th. Hovde Group reaffirmed a “market perform” rating and set a $100.00 price objective on shares of Wintrust Financial in a research note on Friday, June 21st. Finally, Truist Financial boosted their target price on Wintrust Financial from $118.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Three 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.23.

Wintrust Financial Stock Up 1.9 %

NASDAQ:WTFC opened at $106.60 on Friday. The stock has a 50-day simple moving average of $104.38 and a 200 day simple moving average of $101.21. Wintrust Financial Co. has a 52-week low of $71.86 and a 52-week high of $113.68. The company has a market cap of $7.09 billion, a PE ratio of 11.02 and a beta of 1.16. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 0.99.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings data on Wednesday, July 17th. The bank reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.10). The business had revenue of $591.76 million during the quarter, compared to analyst estimates of $587.33 million. Wintrust Financial had a net margin of 17.02% and a return on equity of 12.71%. Wintrust Financial’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the business earned $2.38 earnings per share. On average, sell-side analysts expect that Wintrust Financial Co. will post 10.09 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a dividend of $0.45 per share. The ex-dividend date 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 presently 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.