Allspring Global Investments Holdings LLC Has $18.59 Million Holdings in Wintrust Financial Co. (NASDAQ:WTFC)

Allspring Global Investments Holdings LLC cut its position in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 188,586 shares of the bank’s stock after selling 1,830 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.31% of Wintrust Financial worth $18,587,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Ceredex Value Advisors LLC increased its position in shares of Wintrust Financial by 2.1% during the second quarter. Ceredex Value Advisors LLC now owns 139,292 shares of the bank’s stock worth $13,729,000 after buying an additional 2,850 shares during the period. Van Lanschot Kempen Investment Management N.V. increased its position in shares of Wintrust Financial by 15.5% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 630,824 shares of the bank’s stock worth $62,174,000 after buying an additional 84,687 shares during the period. Leeward Investments LLC MA increased its position in shares of Wintrust Financial by 5.6% during the second quarter. Leeward Investments LLC MA now owns 276,710 shares of the bank’s stock worth $27,273,000 after buying an additional 14,679 shares during the period. Raymond James & Associates increased its position in shares of Wintrust Financial by 2.7% during the second quarter. Raymond James & Associates now owns 207,944 shares of the bank’s stock worth $20,495,000 after buying an additional 5,563 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Wintrust Financial by 14.4% during the second quarter. Blue Trust Inc. now owns 1,431 shares of the bank’s stock worth $149,000 after buying an additional 180 shares during the period. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WTFC. Jefferies Financial Group reduced their price target on shares of Wintrust Financial from $118.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Hovde Group reaffirmed a “market perform” rating and issued a $100.00 price objective on shares of Wintrust Financial in a research note on Friday, June 21st. Royal Bank of Canada raised their price objective on shares of Wintrust Financial from $116.00 to $117.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Piper Sandler raised their price objective on shares of Wintrust Financial from $113.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Wedbush raised their price objective on shares of Wintrust Financial from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. 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’s stock. Based on data from MarketBeat, Wintrust Financial presently has a consensus rating of “Moderate Buy” and an average price target of $117.85.

Wintrust Financial Stock Up 1.6 %

WTFC opened at $107.22 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.99 and a quick ratio of 0.99. The company’s 50-day moving average is $101.97 and its 200 day moving average is $99.44. Wintrust Financial Co. has a fifty-two week low of $71.86 and a fifty-two week high of $113.68. The firm has a market capitalization of $7.13 billion, a P/E ratio of 11.09 and a beta of 1.18.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings data on Wednesday, July 17th. The bank reported $2.32 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.10). The company had revenue of $591.76 million during the quarter, compared to the consensus estimate of $587.33 million. Wintrust Financial had a return on equity of 12.71% and a net margin of 17.02%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.38 EPS. Research analysts expect that Wintrust Financial Co. will post 10.11 earnings per share for the current fiscal year.

Wintrust Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.68%. The ex-dividend date was Thursday, August 8th. Wintrust Financial’s dividend payout ratio is 18.61%.

About Wintrust Financial

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.