Pinebridge Investments L.P. reduced its holdings in Wintrust Financial Corporation (NASDAQ:WTFC) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,970 shares of the bank’s stock after selling 4,034 shares during the period. Pinebridge Investments L.P. owned about 0.09% of Wintrust Financial worth $3,913,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Greenwood Capital Associates LLC lifted its stake in shares of Wintrust Financial by 1.8% in the 2nd quarter. Greenwood Capital Associates LLC now owns 4,399 shares of the bank’s stock valued at $336,000 after purchasing an additional 78 shares during the period. Jennison Associates LLC lifted its stake in shares of Wintrust Financial by 4.6% in the 2nd quarter. Jennison Associates LLC now owns 1,176,922 shares of the bank’s stock valued at $89,964,000 after purchasing an additional 52,161 shares during the period. Prudential Financial Inc. lifted its stake in shares of Wintrust Financial by 564.1% in the 2nd quarter. Prudential Financial Inc. now owns 443,557 shares of the bank’s stock valued at $33,905,000 after purchasing an additional 376,766 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Wintrust Financial by 12.2% in the 2nd quarter. Principal Financial Group Inc. now owns 238,107 shares of the bank’s stock valued at $18,201,000 after purchasing an additional 25,798 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Wintrust Financial by 6.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 714,385 shares of the bank’s stock valued at $54,606,000 after purchasing an additional 40,739 shares during the period. 91.71% of the stock is currently owned by institutional investors and hedge funds.
WTFC has been the subject of several analyst reports. Zacks Investment Research cut shares of Wintrust Financial from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $84.00 target price on shares of Wintrust Financial in a research note on Friday, October 20th. Piper Jaffray Companies restated a “hold” rating and set a $74.00 price objective on shares of Wintrust Financial in a research report on Friday, September 1st. SunTrust Banks set a $79.00 price objective on shares of Wintrust Financial and gave the stock a “hold” rating in a research report on Thursday, October 19th. Finally, Keefe, Bruyette & Woods restated a “buy” rating on shares of Wintrust Financial in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $82.50.
Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.04. The company had revenue of $295.70 million during the quarter, compared to analysts’ expectations of $298.96 million. Wintrust Financial had a net margin of 19.74% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. equities analysts predict that Wintrust Financial Corporation will post 4.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Thursday, November 9th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Wednesday, November 8th. Wintrust Financial’s dividend payout ratio is presently 13.43%.
In other news, insider Thomas P. Zidar sold 3,178 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $80.00, for a total value of $254,240.00. Following the completion of the sale, the insider now directly owns 31,239 shares in the company, valued at $2,499,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Leona A. Gleason sold 8,441 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $80.78, for a total transaction of $681,863.98. The disclosure for this sale can be found here. Insiders have sold 44,500 shares of company stock valued at $3,563,512 over the last 90 days. 1.97% of the stock is currently owned by company insiders.
About Wintrust Financial
Wintrust Financial Corporation is a financial holding company. The Company conducts its businesses through three segments: community banking, specialty finance and wealth management. The Company offers community banking services to individuals, small to mid-sized businesses, local governmental units and institutional clients.
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