Allspring Global Investments Holdings LLC Sells 43,401 Shares of Wintrust Financial Corporation $WTFC

Allspring Global Investments Holdings LLC cut its holdings in shares of Wintrust Financial Corporation (NASDAQ:WTFC) by 22.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 147,086 shares of the bank’s stock after selling 43,401 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wintrust Financial were worth $20,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Advisors Asset Management Inc. purchased a new stake in Wintrust Financial in the first quarter worth $27,000. Elyxium Wealth LLC bought a new position in Wintrust Financial in the 4th quarter worth $31,000. Creative Financial Designs Inc. ADV lifted its position in shares of Wintrust Financial by 231.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank’s stock worth $32,000 after purchasing 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 valued at $34,000 after purchasing an additional 101 shares in the last quarter. Finally, Strive Financial Group LLC purchased a new position in shares of Wintrust Financial during the fourth quarter valued at about $39,000. Institutional investors own 93.48% of the company’s stock.

Insider Activity

In other news, COO David A. Dykstra sold 9,579 shares of Wintrust Financial stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $148.82, for a total value of $1,425,546.78. Following the completion of the transaction, the chief operating officer owned 179,810 shares of the company’s stock, valued at $26,759,324.20. The trade was a 5.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David L. Stoehr sold 3,020 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $150.45, for a total transaction of $454,359.00. Following the completion of the transaction, the chief financial officer owned 13,213 shares in the company, valued at approximately $1,987,895.85. The trade was a 18.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 13,099 shares of company stock worth $1,954,386 over the last three months. 1.24% of the stock is currently owned by corporate insiders.

Wintrust Financial Stock Performance

Wintrust Financial stock opened at $163.66 on Tuesday. 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 company has a market capitalization of $11.04 billion, a P/E ratio of 13.72 and a beta of 0.84. The stock’s 50 day moving average is $155.48 and its 200 day moving average is $149.06. 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, beating analysts’ consensus estimates of $3.15 by $0.15. Wintrust Financial had a return on equity of 13.15% and a net margin of 20.11%.The business had revenue of $961.41 million during the quarter, compared to analysts’ expectations of $735.36 million. During the same quarter in the previous year, the business earned $2.78 earnings per share. On average, equities research analysts predict that Wintrust Financial Corporation will post 13.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

WTFC has been the subject of a number of research reports. Truist Financial increased their price target on shares of Wintrust Financial from $170.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Piper Sandler reissued an “overweight” rating and issued a $188.00 target price (up from $184.00) on shares of Wintrust Financial in a research report on Wednesday, April 22nd. Stephens assumed coverage on Wintrust Financial in a research note on Friday, March 27th. They issued an “equal weight” rating and a $160.00 target price for the company. DA Davidson restated a “buy” rating and set a $185.00 price target on shares of Wintrust Financial in a research report on Tuesday, June 30th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $170.00 price target on shares of Wintrust Financial in a research note on Tuesday, July 7th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.92.

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.