Allspring Global Investments Holdings LLC Has $24.18 Million Stock Position in Wintrust Financial Co. (NASDAQ:WTFC)

Allspring Global Investments Holdings LLC trimmed its holdings in Wintrust Financial Co. (NASDAQ:WTFC) by 4.1% in the 4th quarter, Holdings Channel reports. The fund owned 194,969 shares of the bank’s stock after selling 8,316 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wintrust Financial were worth $24,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC boosted its holdings in Wintrust Financial by 387.1% in the 3rd quarter. CWM LLC now owns 1,135 shares of the bank’s stock valued at $123,000 after purchasing an additional 902 shares during the period. Creative Planning lifted its stake in shares of Wintrust Financial by 21.7% in the third quarter. Creative Planning now owns 13,341 shares of the bank’s stock valued at $1,448,000 after buying an additional 2,375 shares during the period. Raymond James & Associates grew its position in Wintrust Financial by 5.2% during the third quarter. Raymond James & Associates now owns 218,733 shares of the bank’s stock worth $23,739,000 after buying an additional 10,789 shares in the last quarter. Vest Financial LLC increased its stake in Wintrust Financial by 16.4% during the third quarter. Vest Financial LLC now owns 13,725 shares of the bank’s stock valued at $1,490,000 after acquiring an additional 1,931 shares during the period. Finally, DHJJ Financial Advisors Ltd. raised its holdings in Wintrust Financial by 111.7% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 1,033 shares of the bank’s stock valued at $112,000 after acquiring an additional 545 shares in the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.

Wintrust Financial Trading Down 0.2 %

WTFC stock opened at $129.61 on Friday. The business has a fifty day moving average price of $129.40 and a 200 day moving average price of $119.21. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.00. Wintrust Financial Co. has a fifty-two week low of $91.38 and a fifty-two week high of $142.04. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 12.57 and a beta of 1.19.

Wintrust Financial (NASDAQ:WTFC) last announced its earnings results on Tuesday, January 21st. The bank reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.11. Wintrust Financial had a return on equity of 12.60% and a net margin of 17.52%. During the same period last year, the firm earned $1.87 earnings per share. Analysts expect that Wintrust Financial Co. will post 10.33 EPS for the current fiscal year.

Wintrust Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This is an increase from Wintrust Financial’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.54%. Wintrust Financial’s payout ratio is currently 19.40%.

Insider Transactions at Wintrust Financial

In other news, insider Richard B. Murphy sold 3,186 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $131.30, for a total transaction of $418,321.80. Following the completion of the sale, the insider now owns 48,814 shares in the company, valued at $6,409,278.20. The trade was a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffrey D. Hahnfeld sold 416 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $130.95, for a total value of $54,475.20. Following the completion of the transaction, the executive vice president now owns 2,276 shares in the company, valued at approximately $298,042.20. This represents a 15.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,178 shares of company stock worth $1,336,315. Corporate insiders own 1.47% of the company’s stock.

Analyst Upgrades and Downgrades

WTFC has been the topic of several recent research reports. Raymond James reissued a “strong-buy” rating and set a $150.00 price objective (up previously from $135.00) on shares of Wintrust Financial in a report on Thursday, January 23rd. Piper Sandler increased their price objective on shares of Wintrust Financial from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $152.00 target price on shares of Wintrust Financial in a research report on Thursday, January 23rd. Citigroup increased 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. Finally, Truist Financial raised Wintrust Financial to a “strong-buy” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.69.

Wintrust Financial Company 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.