Allspring Global Investments Holdings LLC Boosts Stock Position in Wintrust Financial Co. (NASDAQ:WTFC)

Allspring Global Investments Holdings LLC raised its stake in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 203,285 shares of the bank’s stock after acquiring an additional 14,699 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.33% of Wintrust Financial worth $22,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. raised its stake in Wintrust Financial by 11.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 866 shares of the bank’s stock valued at $85,000 after acquiring an additional 91 shares during the last quarter. Shaker Investments LLC OH raised its stake in shares of Wintrust Financial by 0.3% during the 3rd quarter. Shaker Investments LLC OH now owns 28,928 shares of the bank’s stock worth $3,140,000 after buying an additional 96 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Wintrust Financial by 1.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 10,304 shares of the bank’s stock worth $1,016,000 after buying an additional 145 shares in the last quarter. Inspire Investing LLC raised its stake in shares of Wintrust Financial by 4.4% during the 2nd quarter. Inspire Investing LLC now owns 3,574 shares of the bank’s stock worth $352,000 after buying an additional 151 shares in the last quarter. Finally, Oliver Luxxe Assets LLC raised its stake in shares of Wintrust Financial by 1.7% during the 1st quarter. Oliver Luxxe Assets LLC now owns 9,290 shares of the bank’s stock worth $970,000 after buying an additional 157 shares in the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

Wintrust Financial Stock Performance

Wintrust Financial stock opened at $114.17 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.99 and a current ratio of 1.02. The stock has a fifty day moving average of $107.44 and a two-hundred day moving average of $102.24. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 11.95 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 $117.77.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings results on Monday, October 21st. The bank reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.03). The company had revenue of $615.73 million for the quarter, compared to analysts’ expectations of $623.45 million. Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.53 EPS. On average, analysts anticipate that Wintrust Financial Co. will post 10.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WTFC. Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of Wintrust Financial in a research note on Tuesday. Jefferies Financial Group cut their target price on Wintrust Financial from $118.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. DA Davidson increased their target price on Wintrust Financial from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada increased their target price on Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods downgraded Wintrust Financial from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $110.00 to $115.00 in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

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.