Brooklyn Investment Group Takes Position in Wintrust Financial Co. (NASDAQ:WTFC)

Brooklyn Investment Group bought a new stake in shares of Wintrust Financial Co. (NASDAQ:WTFC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 566 shares of the bank’s stock, valued at approximately $61,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in Wintrust Financial by 825.0% in the 2nd quarter. Versant Capital Management Inc now owns 296 shares of the bank’s stock worth $29,000 after purchasing an additional 264 shares during the period. International Assets Investment Management LLC bought a new position in shares of Wintrust Financial during the 3rd quarter valued at about $35,000. UMB Bank n.a. lifted its holdings in shares of Wintrust Financial by 62.0% in the 3rd quarter. UMB Bank n.a. now owns 512 shares of the bank’s stock valued at $56,000 after acquiring an additional 196 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Wintrust Financial by 77.9% in the 3rd quarter. Covestor Ltd now owns 653 shares of the bank’s stock valued at $71,000 after acquiring an additional 286 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Wintrust Financial by 62.6% in the 2nd quarter. GAMMA Investing LLC now owns 818 shares of the bank’s stock valued at $81,000 after acquiring an additional 315 shares during the last quarter. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Wintrust Financial

In other Wintrust Financial news, COO David A. Dykstra sold 15,492 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $115.48, for a total value of $1,789,016.16. Following the transaction, the chief operating officer now owns 197,591 shares of the company’s stock, valued at $22,817,808.68. This trade represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David L. Stoehr sold 1,607 shares of Wintrust Financial stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $113.46, for a total value of $182,330.22. Following the sale, the chief financial officer now directly owns 14,874 shares in the company, valued at approximately $1,687,604.04. This trade represents a 9.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,198 shares of company stock worth $2,445,314. Corporate insiders own 1.47% of the company’s stock.

Wintrust Financial Stock Performance

Shares of WTFC opened at $138.50 on Friday. Wintrust Financial Co. has a 52-week low of $82.90 and a 52-week high of $142.04. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.73. The company has a 50-day simple moving average of $117.94 and a 200-day simple moving average of $107.01. The company has a market capitalization of $9.21 billion, a PE ratio of 14.50 and a beta of 1.15.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings results on Monday, October 21st. The bank reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.03). Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The business had revenue of $615.73 million for the quarter, compared to analysts’ expectations of $623.45 million. During the same period in the prior year, the company earned $2.53 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts predict that Wintrust Financial Co. will post 10.12 earnings per share for the current fiscal year.

Wintrust Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 7th were issued a $0.45 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.80 annualized dividend and a yield of 1.30%. Wintrust Financial’s dividend payout ratio is currently 18.85%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WTFC shares. Piper Sandler increased their price objective on shares of Wintrust Financial from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and set a $130.00 price objective on shares of Wintrust Financial in a report on Tuesday, October 22nd. Raymond James raised their target price on shares of Wintrust Financial from $125.00 to $135.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price objective on shares of Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial boosted their target price on shares of Wintrust Financial from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Wintrust Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

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.