Wintrust Financial Corporation $WTFC Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lowered its holdings in Wintrust Financial Corporation (NASDAQ:WTFC) by 5.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 153,453 shares of the bank’s stock after selling 9,535 shares during the quarter. Wintrust Financial accounts for 1.3% of Granite Investment Partners LLC’s holdings, making the stock its 13th biggest position. Granite Investment Partners LLC owned approximately 0.23% of Wintrust Financial worth $21,321,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WTFC. Advisors Asset Management Inc. purchased a new stake in Wintrust Financial in the first quarter valued at $27,000. Elyxium Wealth LLC purchased a new position in Wintrust Financial in the fourth quarter valued at $31,000. Creative Financial Designs Inc. ADV raised its position in shares of Wintrust Financial by 231.9% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank’s stock worth $32,000 after acquiring an additional 160 shares during the period. Harbour Investments Inc. boosted its stake in shares of Wintrust Financial by 72.7% during the 4th quarter. Harbour Investments Inc. now owns 240 shares of the bank’s stock worth $34,000 after acquiring an additional 101 shares in the last quarter. Finally, Strive Financial Group LLC purchased a new stake in shares of Wintrust Financial during the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 93.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WTFC. Weiss Ratings restated a “buy (b)” rating on shares of Wintrust Financial in a research report on Monday, June 29th. TD Cowen increased their price target on Wintrust Financial from $173.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Citigroup raised their price objective on Wintrust Financial from $178.00 to $182.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Truist Financial cut their price objective on Wintrust Financial from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Finally, UBS Group reaffirmed a “neutral” rating and set a $170.00 target price on shares of Wintrust Financial in a research note on Tuesday. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.17.

Insider Activity

In related news, Director Suzet M. Mckinney sold 500 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $148.96, for a total value of $74,480.00. Following the completion of the transaction, the director directly owned 3,303 shares of the company’s stock, valued at approximately $492,014.88. This represents a 13.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David A. Dykstra sold 9,579 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $148.82, for a total transaction of $1,425,546.78. Following the completion of the sale, the chief operating officer owned 179,810 shares of the company’s stock, valued at $26,759,324.20. This trade represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,099 shares of company stock worth $1,954,386 over the last quarter. 1.24% of the stock is currently owned by corporate insiders.

Wintrust Financial Stock Down 1.9%

WTFC stock opened at $158.42 on Thursday. The stock has a market capitalization of $10.69 billion, a P/E ratio of 13.28 and a beta of 0.84. The firm has a 50-day simple moving average of $153.52 and a 200-day simple moving average of $147.92. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. Wintrust Financial Corporation has a 52 week low of $119.61 and a 52 week high of $164.00.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings results on Monday, April 20th. The bank reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.96 by $0.26. Wintrust Financial had a net margin of 20.11% and a return on equity of 13.15%. The firm had revenue of $713.17 million during the quarter, compared to the consensus estimate of $707.23 million. During the same quarter in the prior year, the firm earned $2.69 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities analysts forecast that Wintrust Financial Corporation will post 13.09 earnings per share for the current fiscal year.

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.