Millennium Management LLC boosted its stake in shares of Wintrust Financial Corp (NASDAQ:WTFC) by 741.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,523,131 shares of the bank’s stock after purchasing an additional 1,342,106 shares during the quarter. Millennium Management LLC owned about 2.70% of Wintrust Financial worth $132,589,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Centaurus Financial Inc. bought a new stake in shares of Wintrust Financial in the second quarter valued at approximately $498,000. Paloma Partners Management Co bought a new stake in shares of Wintrust Financial in the second quarter valued at approximately $13,538,000. Macquarie Group Ltd. boosted its position in shares of Wintrust Financial by 36.1% in the second quarter. Macquarie Group Ltd. now owns 90,074 shares of the bank’s stock valued at $7,841,000 after acquiring an additional 23,874 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Wintrust Financial in the second quarter valued at approximately $2,009,000. Finally, Capital Fund Management S.A. bought a new stake in shares of Wintrust Financial in the second quarter valued at approximately $1,793,000. 88.69% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ WTFC opened at $88.57 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 0.99. The firm has a market capitalization of $4.97 billion, a P/E ratio of 20.13, a PEG ratio of 1.09 and a beta of 0.79. Wintrust Financial Corp has a one year low of $69.93 and a one year high of $99.96.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Thursday, August 9th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, August 8th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.86%. Wintrust Financial’s payout ratio is 17.27%.
In related news, insider Edward J. Wehmer sold 12,301 shares of the company’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $91.12, for a total value of $1,120,867.12. Following the completion of the transaction, the insider now directly owns 133,308 shares in the company, valued at $12,147,024.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy Crane sold 954 shares of the company’s stock in a transaction on Friday, July 20th. The shares were sold at an average price of $90.96, for a total value of $86,775.84. Following the completion of the transaction, the insider now owns 17,272 shares of the company’s stock, valued at $1,571,061.12. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.
Several research firms have recently weighed in on WTFC. Wedbush increased their price objective on Wintrust Financial from $100.00 to $101.00 and gave the company a “$90.84” rating in a research report on Wednesday, July 18th. BidaskClub upgraded Wintrust Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Hovde Group set a $98.00 target price on Wintrust Financial and gave the company a “hold” rating in a research note on Monday, July 23rd. ValuEngine lowered Wintrust Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. Finally, Zacks Investment Research lowered Wintrust Financial from a “buy” rating to a “hold” rating in a research note on Saturday, July 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $94.56.
Wintrust Financial Company 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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