Glenmede Trust Co. NA Sells 2,224 Shares of Wintrust Financial Co. (NASDAQ:WTFC)

Glenmede Trust Co. NA reduced its position in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 183,063 shares of the bank’s stock after selling 2,224 shares during the period. Glenmede Trust Co. NA owned about 0.28% of Wintrust Financial worth $19,868,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Choreo LLC bought a new position in Wintrust Financial during the 2nd quarter valued at about $1,115,000. Allspring Global Investments Holdings LLC raised its stake in shares of Wintrust Financial by 7.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 203,285 shares of the bank’s stock worth $22,063,000 after acquiring an additional 14,699 shares during the last quarter. LMR Partners LLP bought a new position in shares of Wintrust Financial in the third quarter worth about $499,000. Raymond James & Associates raised its stake in shares of Wintrust Financial by 2.7% in the second quarter. Raymond James & Associates now owns 207,944 shares of the bank’s stock worth $20,495,000 after acquiring an additional 5,563 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in shares of Wintrust Financial by 25.2% in the second quarter. Natixis Advisors LLC now owns 40,908 shares of the bank’s stock worth $4,032,000 after acquiring an additional 8,238 shares during the last quarter. 93.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Wintrust Financial

In related news, COO David A. Dykstra sold 15,492 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief operating officer now owns 197,591 shares of the company’s stock, valued at approximately $22,817,808.68. This trade represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David L. Stoehr sold 1,607 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $113.46, for a total transaction of $182,330.22. Following the completion of the transaction, the chief financial officer now directly owns 14,874 shares of the company’s stock, 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. Insiders sold 21,198 shares of company stock valued at $2,445,314 over the last quarter. Corporate insiders own 1.47% of the company’s stock.

Wintrust Financial Stock Up 0.4 %

Shares of NASDAQ:WTFC opened at $138.50 on Thursday. Wintrust Financial Co. has a 52 week low of $82.90 and a 52 week high of $142.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.01 and a current ratio of 1.02. The company has a market capitalization of $9.21 billion, a PE ratio of 14.50 and a beta of 1.15. The company has a 50 day moving average price of $117.33 and a two-hundred day moving average price of $106.79.

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

Wintrust Financial Announces Dividend

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

About Wintrust Financial

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.