Bank of Montreal Can Purchases 31,008 Shares of Wintrust Financial Co. (NASDAQ:WTFC)

Bank of Montreal Can increased its stake in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 183.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,917 shares of the bank’s stock after acquiring an additional 31,008 shares during the quarter. Bank of Montreal Can owned approximately 0.07% of Wintrust Financial worth $5,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Wintrust Financial by 36.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 802,841 shares of the bank’s stock valued at $87,132,000 after purchasing an additional 213,559 shares during the period. Dimensional Fund Advisors LP raised its stake in Wintrust Financial by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock valued at $297,376,000 after buying an additional 146,090 shares during the last quarter. Principal Financial Group Inc. raised its stake in Wintrust Financial by 11.3% during the third quarter. Principal Financial Group Inc. now owns 1,308,254 shares of the bank’s stock valued at $141,981,000 after buying an additional 133,311 shares during the last quarter. F M Investments LLC purchased a new position in Wintrust Financial during the second quarter valued at $11,850,000. Finally, Jennison Associates LLC raised its stake in Wintrust Financial by 19.8% during the third quarter. Jennison Associates LLC now owns 536,252 shares of the bank’s stock valued at $58,199,000 after buying an additional 88,814 shares during the last quarter. 93.48% of the stock is currently owned by institutional investors.

Insider Transactions at Wintrust Financial

In other Wintrust Financial news, insider Richard B. Murphy sold 4,099 shares of Wintrust Financial stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $115.63, for a total transaction of $473,967.37. Following the completion of the sale, the insider now owns 42,311 shares of the company’s stock, valued at approximately $4,892,420.93. The trade was a 8.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO David A. Dykstra sold 15,492 shares of Wintrust Financial stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $115.48, for a total value of $1,789,016.16. Following the completion of the transaction, the chief operating officer now owns 197,591 shares of the company’s stock, valued at approximately $22,817,808.68. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,198 shares of company stock valued at $2,445,314 in the last quarter. 1.47% of the stock is currently owned by corporate insiders.

Wintrust Financial Stock Down 0.7 %

Shares of NASDAQ WTFC opened at $136.27 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $9.06 billion, a PE ratio of 14.26 and a beta of 1.18. The stock’s fifty day simple moving average is $119.68 and its two-hundred day simple moving average is $107.79. Wintrust Financial Co. has a 12-month low of $88.31 and a 12-month high of $142.04.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $623.45 million. Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.53 EPS. As a group, analysts expect that Wintrust Financial Co. will post 10.12 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.32%. Wintrust Financial’s payout ratio is 18.85%.

Analysts Set New Price Targets

A number of research analysts have issued reports on WTFC shares. Piper Sandler lifted their price objective on Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and issued a $130.00 target price on shares of Wintrust Financial in a report on Tuesday, October 22nd. Raymond James lifted their target price on Wintrust Financial from $125.00 to $135.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 23rd. DA Davidson lifted their target price on Wintrust Financial from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup lifted their target price on Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

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.