Corebridge Financial Inc. Sells 3,401 Shares of Wintrust Financial Co. (NASDAQ:WTFC)

Corebridge Financial Inc. reduced its holdings in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 4.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 75,226 shares of the bank’s stock after selling 3,401 shares during the period. Corebridge Financial Inc.’s holdings in Wintrust Financial were worth $9,381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in WTFC. Vanguard Group Inc. increased its stake in shares of Wintrust Financial by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 6,911,488 shares of the bank’s stock worth $861,932,000 after purchasing an additional 58,162 shares in the last quarter. FMR LLC increased its position in Wintrust Financial by 14.1% in the third quarter. FMR LLC now owns 5,153,999 shares of the bank’s stock worth $559,364,000 after buying an additional 637,072 shares in the last quarter. State Street Corp raised its stake in shares of Wintrust Financial by 5.1% in the third quarter. State Street Corp now owns 2,627,561 shares of the bank’s stock worth $285,169,000 after buying an additional 126,724 shares during the period. Principal Financial Group Inc. lifted its position in shares of Wintrust Financial by 11.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,308,254 shares of the bank’s stock valued at $141,981,000 after buying an additional 133,311 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Wintrust Financial by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,155,726 shares of the bank’s stock valued at $125,464,000 after acquiring an additional 92,995 shares during the period. 93.48% of the stock is currently owned by institutional investors.

Wintrust Financial Trading Down 0.9 %

Shares of WTFC opened at $114.95 on Thursday. The stock has a market capitalization of $7.67 billion, a PE ratio of 11.15 and a beta of 1.16. The company’s fifty day moving average is $123.86 and its 200 day moving average is $122.16. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.01. Wintrust Financial Co. has a fifty-two week low of $91.38 and a fifty-two week high of $142.04.

Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Tuesday, January 21st. The bank reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.11. Wintrust Financial had a net margin of 17.52% and a return on equity of 12.60%. During the same period in the prior year, the firm posted $1.87 EPS. Sell-side analysts expect that Wintrust Financial Co. will post 10.36 earnings per share for the current fiscal year.

Wintrust Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.74%. This is a positive change from Wintrust Financial’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, February 6th. Wintrust Financial’s dividend payout ratio (DPR) is presently 19.40%.

Insider Activity

In other Wintrust Financial news, CFO David L. Stoehr sold 2,363 shares of Wintrust Financial stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $131.32, for a total transaction of $310,309.16. Following the completion of the transaction, the chief financial officer now directly owns 19,858 shares of the company’s stock, valued at $2,607,752.56. The trade was a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey D. Hahnfeld sold 416 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $130.95, for a total transaction of $54,475.20. Following the completion of the sale, the executive vice president now directly owns 2,276 shares in the company, valued at approximately $298,042.20. This represents a 15.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,178 shares of company stock valued at $1,336,315. 1.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on WTFC. Royal Bank of Canada restated an “outperform” rating and set a $152.00 target price on shares of Wintrust Financial in a research note on Thursday, January 23rd. Barclays lifted their target price on shares of Wintrust Financial from $151.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Truist Financial upgraded Wintrust Financial to a “strong-buy” rating in a research note on Monday, January 6th. Piper Sandler raised their price target on Wintrust Financial from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $150.00 price objective (up previously from $135.00) on shares of Wintrust Financial in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.69.

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.