Assetmark Inc. Grows Position in Wintrust Financial Co. (NASDAQ:WTFC)

Assetmark Inc. boosted its position in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 11.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,713 shares of the bank’s stock after purchasing an additional 1,693 shares during the period. Assetmark Inc.’s holdings in Wintrust Financial were worth $1,814,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted its holdings 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 period. Shaker Investments LLC OH grew its holdings in shares of Wintrust Financial by 0.3% in the third quarter. Shaker Investments LLC OH now owns 28,928 shares of the bank’s stock worth $3,140,000 after purchasing an additional 96 shares during the last quarter. US Bancorp DE increased its stake in Wintrust Financial by 0.5% in the 3rd quarter. US Bancorp DE now owns 24,716 shares of the bank’s stock worth $2,682,000 after buying an additional 126 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in Wintrust Financial by 1.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 10,304 shares of the bank’s stock valued at $1,016,000 after buying an additional 145 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in Wintrust Financial by 4.4% in the 2nd quarter. Inspire Investing LLC now owns 3,574 shares of the bank’s stock valued at $352,000 after buying an additional 151 shares during the period. Institutional investors own 93.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler lifted their price target on shares of Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Truist Financial increased their price target on Wintrust Financial from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and issued a $130.00 price objective on shares of Wintrust Financial in a report on Tuesday, October 22nd. Stephens reissued an “overweight” rating and set a $115.00 target price on shares of Wintrust Financial in a research report on Thursday, July 18th. Finally, Citigroup upped their price target on shares of Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $123.00.

Wintrust Financial Stock Down 0.8 %

Wintrust Financial stock opened at $132.62 on Thursday. The business has a fifty day moving average price of $112.11 and a 200-day moving average price of $104.60. Wintrust Financial Co. has a 1-year low of $79.85 and a 1-year high of $136.08. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 13.89 and a beta of 1.15. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 1.01.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings results on Monday, October 21st. The bank reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.03). The business 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%. Wintrust Financial’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.53 EPS. Equities research analysts forecast that Wintrust Financial Co. will post 10.12 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 1.36%. Wintrust Financial’s payout ratio is currently 18.85%.

Insider Activity

In other news, CFO David L. Stoehr sold 1,607 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $113.46, for a total value of $182,330.22. Following the transaction, the chief financial officer now directly owns 14,874 shares of the company’s stock, valued at approximately $1,687,604.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO David A. Dykstra sold 15,492 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $115.48, for a total transaction of $1,789,016.16. Following the completion of the transaction, the chief operating officer now directly owns 197,591 shares in the company, valued at $22,817,808.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David L. Stoehr sold 1,607 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $113.46, for a total transaction of $182,330.22. Following the completion of the sale, the chief financial officer now directly owns 14,874 shares in the company, valued at approximately $1,687,604.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,198 shares of company stock valued at $2,445,314 over the last ninety days. 1.47% of the stock is currently owned by insiders.

Wintrust Financial 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.