Comerica Bank Cuts Holdings in Wintrust Financial Corp (WTFC)

Comerica Bank lessened its stake in Wintrust Financial Corp (NASDAQ:WTFC) by 15.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,328 shares of the bank’s stock after selling 6,792 shares during the period. Comerica Bank owned approximately 0.06% of Wintrust Financial worth $2,764,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. First Hawaiian Bank bought a new stake in shares of Wintrust Financial in the 3rd quarter worth approximately $101,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Wintrust Financial by 99.4% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,705 shares of the bank’s stock worth $148,000 after acquiring an additional 850 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Wintrust Financial in the 2nd quarter worth approximately $171,000. Atria Investments LLC bought a new stake in shares of Wintrust Financial in the 2nd quarter worth approximately $204,000. Finally, Paulson Wealth Management Inc. bought a new stake in shares of Wintrust Financial in the 3rd quarter worth approximately $259,000. 89.02% of the stock is owned by institutional investors and hedge funds.

NASDAQ:WTFC opened at $75.83 on Friday. Wintrust Financial Corp has a 52 week low of $72.17 and a 52 week high of $99.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.99 and a quick ratio of 0.98. The firm has a market cap of $4.29 billion, a P/E ratio of 17.23, a PEG ratio of 0.93 and a beta of 0.87.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings results on Wednesday, October 17th. The bank reported $1.57 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.03. Wintrust Financial had a net margin of 22.70% and a return on equity of 11.27%. The company had revenue of $347.49 million during the quarter, compared to analyst estimates of $342.18 million. During the same period in the prior year, the business posted $1.12 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. Equities research analysts expect that Wintrust Financial Corp will post 6.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Thursday, November 8th were issued a $0.19 dividend. The ex-dividend date was Wednesday, November 7th. This represents a $0.76 annualized dividend and a yield of 1.00%. Wintrust Financial’s dividend payout ratio (DPR) is presently 17.27%.

WTFC has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on shares of Wintrust Financial to $92.00 and gave the company an “outperform” rating in a report on Friday, October 19th. BidaskClub lowered shares of Wintrust Financial from a “sell” rating to a “strong sell” rating in a report on Friday, August 31st. FIG Partners upgraded shares of Wintrust Financial from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a report on Tuesday, October 2nd. Zacks Investment Research lowered shares of Wintrust Financial from a “buy” rating to a “hold” rating in a report on Saturday, September 29th. Finally, DA Davidson upgraded shares of Wintrust Financial from a “neutral” rating to a “buy” rating and lowered their price target for the company from $98.00 to $95.00 in a report on Friday, October 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $94.82.

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Wintrust Financial Profile

Wintrust Financial Corporation operates as a financial holding company in the Chicago metropolitan area, southern Wisconsin, and northwest Indiana. 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), Internet banking, and other services.

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Institutional Ownership by Quarter for Wintrust Financial (NASDAQ:WTFC)

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