Bank of New York Mellon Corp Sells 17,674 Shares of Wintrust Financial Corporation $WTFC

Bank of New York Mellon Corp reduced its position in Wintrust Financial Corporation (NASDAQ:WTFC) by 3.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 526,386 shares of the bank’s stock after selling 17,674 shares during the period. Bank of New York Mellon Corp owned 0.79% of Wintrust Financial worth $73,599,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Wintrust Financial in the 4th quarter valued at approximately $111,924,000. Wellington Management Group LLP purchased a new position in shares of Wintrust Financial in the 3rd quarter valued at approximately $90,187,000. Artemis Investment Management LLP purchased a new position in shares of Wintrust Financial in the 4th quarter valued at approximately $59,287,000. Verition Fund Management LLC raised its position in shares of Wintrust Financial by 172.4% in the 3rd quarter. Verition Fund Management LLC now owns 238,210 shares of the bank’s stock valued at $31,549,000 after purchasing an additional 150,768 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Wintrust Financial by 744.8% in the 4th quarter. M&T Bank Corp now owns 139,139 shares of the bank’s stock valued at $19,454,000 after purchasing an additional 122,669 shares during the last quarter. 93.48% of the stock is currently owned by institutional investors.

Insider Transactions at Wintrust Financial

In other Wintrust Financial news, CFO David L. Stoehr sold 3,020 shares of Wintrust Financial stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $150.45, for a total value of $454,359.00. Following the completion of the transaction, the chief financial officer directly owned 13,213 shares of the company’s stock, valued at $1,987,895.85. The trade was a 18.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO David A. Dykstra sold 9,579 shares of Wintrust Financial stock in a transaction dated Monday, April 27th. The shares were 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 directly owned 179,810 shares of the company’s stock, valued at approximately $26,759,324.20. This represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,099 shares of company stock worth $1,954,386 in the last quarter. Company insiders own 1.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank Of Canada increased their price objective on shares of Wintrust Financial from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Citigroup raised their price target on shares of Wintrust Financial from $178.00 to $182.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. DA Davidson reissued a “buy” rating and set a $165.00 price target on shares of Wintrust Financial in a research report on Tuesday, April 21st. TD Cowen raised their price target on shares of Wintrust Financial from $173.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $188.00 price target (up from $184.00) on shares of Wintrust Financial in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Wintrust Financial has an average rating of “Moderate Buy” and an average price target of $168.92.

Wintrust Financial Price Performance

Wintrust Financial stock opened at $155.20 on Wednesday. The company’s fifty day moving average price is $147.66 and its 200 day moving average price is $144.72. Wintrust Financial Corporation has a 1 year low of $116.57 and a 1 year high of $162.96. The stock has a market capitalization of $10.47 billion, a P/E ratio of 13.01 and a beta of 0.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 0.98.

Wintrust Financial (NASDAQ:WTFC) last announced its earnings results on Monday, April 20th. The bank reported $3.22 earnings per share (EPS) 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 company had revenue of $713.17 million for the quarter, compared to analysts’ expectations of $707.23 million. During the same quarter in the previous year, the company posted $2.69 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, equities research analysts anticipate that Wintrust Financial Corporation will post 13.07 earnings per share for the current fiscal year.

Wintrust Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Thursday, May 14th. Wintrust Financial’s payout ratio is currently 18.44%.

Wintrust Financial Company 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.