Clearbridge Investments LLC Has $24.32 Million Stock Position in Wintrust Financial Co. (NASDAQ:WTFC)

Clearbridge Investments LLC raised its position in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 1.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 246,742 shares of the bank’s stock after purchasing an additional 2,991 shares during the quarter. Clearbridge Investments LLC’s holdings in Wintrust Financial were worth $24,319,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC acquired a new stake in shares of Wintrust Financial during the second quarter worth $367,000. Northwestern Mutual Wealth Management Co. grew its holdings in Wintrust Financial by 135.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,093 shares of the bank’s stock worth $1,290,000 after acquiring an additional 7,534 shares during the period. Creative Planning raised its position in shares of Wintrust Financial by 12.3% in the 2nd quarter. Creative Planning now owns 10,966 shares of the bank’s stock worth $1,081,000 after acquiring an additional 1,200 shares in the last quarter. Algert Global LLC acquired a new position in shares of Wintrust Financial in the 2nd quarter valued at about $613,000. Finally, Elizabeth Park Capital Advisors Ltd. bought a new stake in shares of Wintrust Financial during the 2nd quarter valued at about $2,108,000. Institutional investors own 93.48% of the company’s stock.

Wintrust Financial Price Performance

Shares of NASDAQ:WTFC opened at $104.57 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The stock has a market cap of $6.95 billion, a PE ratio of 10.81 and a beta of 1.16. The stock’s fifty day simple moving average is $104.54 and its two-hundred day simple moving average is $101.12. Wintrust Financial Co. has a 1-year low of $71.86 and a 1-year high of $113.68.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings results 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 firm had revenue of $591.76 million for the quarter, compared to the consensus estimate of $587.33 million. During the same period in the previous year, the business earned $2.38 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, analysts forecast that Wintrust Financial Co. will post 10.09 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Thursday, August 8th. Wintrust Financial’s dividend payout ratio is presently 18.61%.

Analysts Set New Price Targets

WTFC has been the topic of several recent analyst reports. Truist Financial boosted their price target on Wintrust Financial from $118.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Stephens restated an “overweight” rating and issued a $115.00 price target on shares of Wintrust Financial in a report on Thursday, July 18th. Keefe, Bruyette & Woods lowered shares of Wintrust Financial from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $110.00 to $115.00 in a report on Friday, July 19th. Hovde Group restated a “market perform” rating and issued a $100.00 target price on shares of Wintrust Financial in a research note on Friday, June 21st. Finally, DA Davidson upped their price target on Wintrust Financial from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.