Wintrust Financial Corporation $WTFC Stock Sold by Artemis Investment Management LLP

Artemis Investment Management LLP cut its holdings in Wintrust Financial Corporation (NASDAQ:WTFC) by 7.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 644,295 shares of the bank’s stock after selling 51,667 shares during the period. Artemis Investment Management LLP’s holdings in Wintrust Financial were worth $91,374,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE bought a new position in Wintrust Financial during the 2nd quarter valued at about $168,021,000. Deutsche Bank AG bought a new stake in Wintrust Financial in the second quarter worth about $8,320,000. Corient Private Wealth LP boosted its position in shares of Wintrust Financial by 12.2% during the second quarter. Corient Private Wealth LP now owns 56,983 shares of the bank’s stock valued at $9,158,000 after buying an additional 6,214 shares during the period. Simplicity Wealth LLC bought a new position in shares of Wintrust Financial during the second quarter valued at approximately $866,000. Finally, GSA Capital Partners LLP bought a new position in shares of Wintrust Financial during the second quarter valued at approximately $1,437,000. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

Wintrust Financial Stock Up 1.0%

Shares of WTFC stock traded up $1.38 on Thursday, hitting $143.87. The stock had a trading volume of 158,789 shares, compared to its average volume of 512,407. 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 $152.30 and a 200 day moving average price of $151.79. The company has a market cap of $9.71 billion, a PE ratio of 11.53 and a beta of 0.89. Wintrust Financial Corporation has a one year low of $119.61 and a one year high of $167.21.

Wintrust Financial (NASDAQ:WTFC) last issued its earnings results on Monday, July 20th. The bank reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 20.72% and a return on equity of 13.37%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.78 EPS. Research analysts anticipate that Wintrust Financial Corporation will post 13.12 earnings per share for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, August 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. Wintrust Financial’s dividend payout ratio (DPR) is currently 17.67%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WTFC. Piper Sandler raised their price target on Wintrust Financial from $186.00 to $195.00 and gave the stock an “overweight” rating in a research note on Monday. TD Cowen decreased their target price on Wintrust Financial from $183.00 to $173.00 and set a “buy” rating for the company in a research report on Monday. Citigroup lowered shares of Wintrust Financial from a “buy” rating to a “hold” rating in a report on Tuesday, July 21st. DA Davidson upped their target price on shares of Wintrust Financial from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Barclays reduced their target price on shares of Wintrust Financial from $192.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $176.29.

Insider Transactions at Wintrust Financial

In related news, COO David Dykstra sold 13,515 shares of Wintrust Financial stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 166,449 shares of the company’s stock, valued at $27,092,903.73. This trade represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.24% of the stock is currently owned by insiders.

Wintrust Financial Company Profile

Wintrust Financial Corporation (NASDAQ: WTFC) is a financial holding company headquartered in Rosemont, Illinois. Founded in 1991, the company operates a network of community banks serving individuals, families and businesses primarily in the Chicago metropolitan area, southern Wisconsin and northwest Indiana.

Wintrust’s banking subsidiaries provide deposit accounts, commercial and consumer lending, residential mortgages, treasury management, trust and investment services, and other traditional banking products.