State of New Jersey Common Pension Fund D Lowers Position in Wintrust Financial Co. (NASDAQ:WTFC)

State of New Jersey Common Pension Fund D cut its stake in Wintrust Financial Co. (NASDAQ:WTFC) by 35.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,325 shares of the bank’s stock after selling 10,804 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Wintrust Financial were worth $1,905,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of WTFC. Janney Montgomery Scott LLC increased its position in shares of Wintrust Financial by 11.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 6,104 shares of the bank’s stock valued at $566,000 after acquiring an additional 614 shares during the last quarter. Norges Bank purchased a new stake in shares of Wintrust Financial during the fourth quarter valued at approximately $61,898,000. PNC Financial Services Group Inc. increased its position in shares of Wintrust Financial by 84.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,745 shares of the bank’s stock valued at $533,000 after acquiring an additional 2,623 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Wintrust Financial during the fourth quarter valued at approximately $541,000. Finally, Assetmark Inc. increased its position in shares of Wintrust Financial by 210,500.0% during the fourth quarter. Assetmark Inc. now owns 2,106 shares of the bank’s stock valued at $195,000 after acquiring an additional 2,105 shares during the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

Wintrust Financial Trading Down 1.8 %

Shares of WTFC stock opened at $108.26 on Monday. 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 Co. has a 52-week low of $71.86 and a 52-week high of $113.68. The company has a market capitalization of $6.69 billion, a PE ratio of 11.20 and a beta of 1.16. The business’s fifty day moving average is $104.83 and its 200 day moving average is $100.61.

Wintrust Financial (NASDAQ:WTFC) last issued 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). Wintrust Financial had a return on equity of 12.71% and a net margin of 17.02%. The business had revenue of $591.76 million during the quarter, compared to analysts’ expectations of $587.33 million. During the same quarter last year, the business posted $2.38 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts anticipate that Wintrust Financial Co. will post 10.11 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.66%. Wintrust Financial’s dividend payout ratio (DPR) is presently 18.61%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WTFC. Royal Bank of Canada increased their price objective on Wintrust Financial from $116.00 to $117.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Truist Financial increased their price objective on Wintrust Financial from $118.00 to $123.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler increased their price objective on Wintrust Financial from $113.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Stephens reissued an “overweight” rating and set a $115.00 price objective on shares of Wintrust Financial in a report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods lowered Wintrust Financial from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $110.00 to $115.00 in a report on Friday, July 19th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.23.

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.