Allspring Global Investments Holdings LLC Lowers Holdings in Wintrust Financial Corporation $WTFC

Allspring Global Investments Holdings LLC trimmed its position in Wintrust Financial Corporation (NASDAQ:WTFC) by 5.1% in the 4th quarter, Holdings Channel reports. The firm owned 190,487 shares of the bank’s stock after selling 10,223 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wintrust Financial were worth $27,175,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Wintrust Financial by 4.6% in the 4th quarter. GAMMA Investing LLC now owns 1,755 shares of the bank’s stock valued at $245,000 after purchasing an additional 77 shares during the period. Cresset Asset Management LLC increased its position in Wintrust Financial by 2.4% during the 3rd quarter. Cresset Asset Management LLC now owns 3,730 shares of the bank’s stock worth $494,000 after buying an additional 88 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Wintrust Financial by 20.6% during the second quarter. NewEdge Advisors LLC now owns 586 shares of the bank’s stock worth $73,000 after buying an additional 100 shares in the last quarter. EJF Capital LLC boosted its position in shares of Wintrust Financial by 2.5% in the second quarter. EJF Capital LLC now owns 4,309 shares of the bank’s stock valued at $534,000 after acquiring an additional 106 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Wintrust Financial by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,129 shares of the bank’s stock valued at $1,200,000 after acquiring an additional 106 shares during the period. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider David Eric Lee sold 558 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $147.42, for a total transaction of $82,260.36. Following the transaction, the insider directly owned 16,085 shares of the company’s stock, valued at approximately $2,371,250.70. This represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David L. Stoehr sold 2,499 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $146.16, for a total value of $365,253.84. Following the transaction, the chief financial officer directly owned 18,638 shares in the company, valued at $2,724,130.08. The trade was a 11.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,662 shares of company stock worth $1,705,730 over the last three months. Insiders own 1.01% of the company’s stock.

Wintrust Financial Price Performance

Shares of NASDAQ WTFC opened at $139.60 on Friday. The company has a market capitalization of $9.39 billion, a P/E ratio of 12.25 and a beta of 0.86. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.99 and a current ratio of 1.00. Wintrust Financial Corporation has a 52-week low of $89.10 and a 52-week high of $162.96. The company’s 50 day moving average price is $144.42 and its 200-day moving average price is $138.61.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings results on Tuesday, January 20th. The bank reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. The firm had revenue of $714.26 million during the quarter, compared to the consensus estimate of $700.85 million. Wintrust Financial had a return on equity of 12.95% and a net margin of 19.48%.During the same period last year, the business posted $2.63 EPS. Equities analysts forecast that Wintrust Financial Corporation will post 10.36 earnings per share for the current year.

Wintrust Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th were issued a $0.55 dividend. The ex-dividend date was Thursday, February 5th. This is a positive change from Wintrust Financial’s previous quarterly dividend of $0.50. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. Wintrust Financial’s dividend payout ratio is 19.30%.

Wall Street Analysts Forecast Growth

WTFC has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of Wintrust Financial from $170.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Citigroup increased their target price on shares of Wintrust Financial from $167.00 to $178.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Barclays raised their target price on shares of Wintrust Financial from $178.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, January 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Wintrust Financial in a research note on Wednesday, January 21st. Finally, Truist Financial lowered their price objective on Wintrust Financial from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Wintrust Financial has an average rating of “Moderate Buy” and an average price target of $163.62.

Wintrust Financial Profile

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.