Polar Asset Management Partners Inc. Acquires New Shares in Wintrust Financial Corporation $WTFC

Polar Asset Management Partners Inc. acquired a new position in shares of Wintrust Financial Corporation (NASDAQ:WTFC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 173,415 shares of the bank’s stock, valued at approximately $27,871,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Wintrust Financial in the second quarter valued at approximately $1,058,088,000. Norges Bank acquired a new stake in shares of Wintrust Financial during the fourth quarter worth $111,924,000. Wellington Management Group LLP acquired a new stake in shares of Wintrust Financial during the third quarter worth $90,187,000. Jupiter Topco LLC bought a new stake in Wintrust Financial in the 2nd quarter valued at $92,734,000. Finally, Bank of New York Mellon Corp acquired a new position in Wintrust Financial in the 2nd quarter worth $92,391,000. 93.48% of the stock is currently owned by institutional investors.

Wintrust Financial Stock Down 0.6%

WTFC stock opened at $151.09 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $159.57 and a two-hundred day moving average price of $151.26. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 12.14 and a beta of 0.85. Wintrust Financial Corporation has a twelve month low of $119.61 and a twelve month high of $167.21.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings data on Monday, July 20th. The bank reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.15. The company had revenue of $738.63 million for the quarter, compared to analysts’ expectations of $735.36 million. Wintrust Financial had a return on equity of 13.37% and a net margin of 20.72%.The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.78 EPS. Analysts anticipate that Wintrust Financial Corporation will post 13.04 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Thursday, August 6th. Wintrust Financial’s payout ratio is presently 17.67%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WTFC. Piper Sandler set a $186.00 price objective on Wintrust Financial in a research report on Wednesday, July 22nd. Capital One Financial set a $170.00 target price on Wintrust Financial in a research note on Tuesday, July 21st. Brean Capital cut shares of Wintrust Financial from a “buy” rating to a “neutral” rating and set a $170.00 price target for the company. in a research note on Tuesday, July 21st. DA Davidson lifted their price objective on shares of Wintrust Financial from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Truist Financial boosted their price objective on shares of Wintrust Financial from $170.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.77.

Insider Transactions at Wintrust Financial

In other Wintrust Financial news, COO David A. Dykstra sold 13,515 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $162.77, for a total transaction of $2,199,836.55. Following the sale, the chief operating officer directly owned 166,449 shares of the company’s stock, valued at approximately $27,092,903.73. This represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.24% of the company’s stock.

About Wintrust Financial

Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.

The firm’s core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.