Readystate Asset Management LP Makes New Investment in Wintrust Financial Co. (NASDAQ:WTFC)

Readystate Asset Management LP acquired a new position in Wintrust Financial Co. (NASDAQ:WTFC) during the 3rd quarter, HoldingsChannel reports. The fund acquired 3,438 shares of the bank’s stock, valued at approximately $373,000.

Several other institutional investors also recently modified their holdings of WTFC. Menard Financial Group LLC raised its holdings in shares of Wintrust Financial by 14.1% in the 3rd quarter. Menard Financial Group LLC now owns 3,294 shares of the bank’s stock worth $357,000 after acquiring an additional 406 shares during the last quarter. HighTower Advisors LLC lifted its stake in Wintrust Financial by 3.6% in the 3rd quarter. HighTower Advisors LLC now owns 11,280 shares of the bank’s stock worth $1,225,000 after purchasing an additional 395 shares in the last quarter. Holocene Advisors LP raised its position in shares of Wintrust Financial by 227.9% during the 3rd quarter. Holocene Advisors LP now owns 49,166 shares of the bank’s stock valued at $5,336,000 after buying an additional 34,171 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Wintrust Financial in the 3rd quarter worth $2,564,000. Finally, Captrust Financial Advisors grew its holdings in Wintrust Financial by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 3,859 shares of the bank’s stock worth $419,000 after acquiring an additional 104 shares during the last quarter. Institutional investors own 93.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on WTFC shares. Piper Sandler boosted their price objective on shares of Wintrust Financial from $131.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Citigroup raised their target price on shares of Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Truist Financial raised their target price on shares of Wintrust Financial from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson boosted their target price on shares of Wintrust Financial from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays boosted their target price on shares of Wintrust Financial from $130.00 to $151.00 and gave the company an “overweight” rating in a research note on Thursday. Three equities research 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 stock. Based on data from MarketBeat, Wintrust Financial currently has an average rating of “Moderate Buy” and an average price target of $124.62.

Insider Buying and Selling at Wintrust Financial

In other Wintrust Financial news, insider Richard B. Murphy sold 4,099 shares of the company’s stock in a transaction that occurred on 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 $4,892,420.93. This represents a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David L. Stoehr sold 1,607 shares of the company’s stock in a transaction that occurred on 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 owns 14,874 shares of the company’s stock, valued at approximately $1,687,604.04. This trade represents a 9.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,198 shares of company stock valued at $2,445,314 in the last 90 days. 1.47% of the stock is currently owned by corporate insiders.

Wintrust Financial Stock Performance

Shares of WTFC opened at $136.46 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market capitalization of $9.07 billion, a PE ratio of 14.29 and a beta of 1.18. Wintrust Financial Co. has a 12-month low of $89.18 and a 12-month high of $142.04. The business’s fifty day moving average price is $120.88 and its 200 day moving average price is $108.24.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings results on Monday, October 21st. The bank reported $2.47 EPS 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 analyst estimates of $623.45 million. Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. Wintrust Financial’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business posted $2.53 earnings per share. Equities research analysts forecast that Wintrust Financial Co. will post 10.12 EPS for the current year.

Wintrust Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.80 annualized dividend and a yield of 1.32%. Wintrust Financial’s dividend payout ratio (DPR) is presently 18.85%.

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.