Access Investment Management LLC Acquires Shares of 18,050 Wintrust Financial Corporation $WTFC

Access Investment Management LLC acquired a new position in Wintrust Financial Corporation (NASDAQ:WTFC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,050 shares of the bank’s stock, valued at approximately $2,238,000.

Other institutional investors also recently added to or reduced their stakes in the company. Earnest Partners LLC boosted its holdings in shares of Wintrust Financial by 7.4% in the first quarter. Earnest Partners LLC now owns 1,410,773 shares of the bank’s stock valued at $158,656,000 after purchasing an additional 97,587 shares during the period. Invesco Ltd. raised its stake in Wintrust Financial by 2.7% in the first quarter. Invesco Ltd. now owns 1,128,724 shares of the bank’s stock worth $126,936,000 after buying an additional 30,018 shares in the last quarter. Jennison Associates LLC raised its stake in Wintrust Financial by 16.0% in the second quarter. Jennison Associates LLC now owns 936,834 shares of the bank’s stock worth $116,149,000 after buying an additional 129,444 shares in the last quarter. Northern Trust Corp boosted its position in Wintrust Financial by 20.2% during the 1st quarter. Northern Trust Corp now owns 852,583 shares of the bank’s stock valued at $95,881,000 after acquiring an additional 143,401 shares in the last quarter. Finally, Reinhart Partners LLC. increased its holdings in shares of Wintrust Financial by 12.2% in the 2nd quarter. Reinhart Partners LLC. now owns 751,481 shares of the bank’s stock valued at $93,170,000 after acquiring an additional 81,763 shares during the period. Hedge funds and other institutional investors own 93.48% of the company’s stock.

Wintrust Financial Stock Performance

Shares of NASDAQ WTFC opened at $130.02 on Monday. Wintrust Financial Corporation has a 1 year low of $89.10 and a 1 year high of $142.04. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01. The company’s fifty day moving average price is $132.44 and its 200 day moving average price is $126.13. The company has a market capitalization of $8.71 billion, a PE ratio of 11.95 and a beta of 0.83.

Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Monday, October 20th. The bank reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.43. The business had revenue of $697.84 million for the quarter, compared to analyst estimates of $689.10 million. Wintrust Financial had a net margin of 18.85% and a return on equity of 13.05%. During the same period in the prior year, the company posted $2.47 EPS. On average, research analysts predict that Wintrust Financial Corporation will post 10.36 earnings per share for the current year.

Wintrust Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, November 6th. Wintrust Financial’s payout ratio is presently 18.38%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WTFC shares. Cowen reaffirmed a “buy” rating on shares of Wintrust Financial in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Wintrust Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on shares of Wintrust Financial from $130.00 to $138.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Wintrust Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Truist Financial increased their price objective on Wintrust Financial from $151.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $152.92.

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.