Providence Wealth Advisors LLC Acquires Shares of 1,624 Wintrust Financial Corporation $WTFC

Providence Wealth Advisors LLC bought a new position in shares of Wintrust Financial Corporation (NASDAQ:WTFC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,624 shares of the bank’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Earnest Partners LLC grew its stake in Wintrust Financial by 7.4% in the 1st quarter. Earnest Partners LLC now owns 1,410,773 shares of the bank’s stock valued at $158,656,000 after buying an additional 97,587 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Wintrust Financial by 2.7% during the first quarter. Invesco Ltd. now owns 1,128,724 shares of the bank’s stock worth $126,936,000 after acquiring an additional 30,018 shares during the period. Jennison Associates LLC grew its position in shares of Wintrust Financial by 16.0% in the second quarter. Jennison Associates LLC now owns 936,834 shares of the bank’s stock valued at $116,149,000 after purchasing an additional 129,444 shares during the last quarter. Northern Trust Corp increased its stake in shares of Wintrust Financial by 20.2% during the first quarter. Northern Trust Corp now owns 852,583 shares of the bank’s stock worth $95,881,000 after purchasing an additional 143,401 shares during the period. Finally, Reinhart Partners LLC. lifted its holdings in Wintrust Financial by 12.2% during the 2nd quarter. Reinhart Partners LLC. now owns 751,481 shares of the bank’s stock worth $93,170,000 after purchasing an additional 81,763 shares during the last quarter. Institutional investors own 93.48% of the company’s stock.

Wintrust Financial Stock Up 2.6%

WTFC stock opened at $131.26 on Friday. Wintrust Financial Corporation has a 52 week low of $89.10 and a 52 week high of $142.04. The business has a 50-day simple moving average of $129.87 and a 200 day simple moving average of $128.01. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. The company has a market cap of $8.79 billion, a PE ratio of 12.06 and a beta of 0.91.

Wintrust Financial (NASDAQ:WTFC) last issued its earnings results on Thursday, November 6th. The bank reported $3.06 EPS for the quarter. The company had revenue of $1.26 billion during the quarter. Wintrust Financial had a net margin of 18.85% and a return on equity of 13.05%. Sell-side analysts anticipate that Wintrust Financial Corporation will post 10.36 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, November 6th. Wintrust Financial’s dividend payout ratio (DPR) is currently 18.38%.

Analysts Set New Price Targets

A number of research analysts have commented on WTFC shares. Cowen reaffirmed a “buy” rating on shares of Wintrust Financial in a report on Wednesday, October 22nd. Jefferies Financial Group reduced their target price on shares of Wintrust Financial from $165.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, October 21st. Truist Financial raised their price target on shares of Wintrust Financial from $151.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Piper Sandler reissued an “overweight” rating and issued a $161.00 price objective (up previously from $160.00) on shares of Wintrust Financial in a report on Wednesday, October 22nd. Finally, TD Cowen started coverage on shares of Wintrust Financial in a research report on Thursday, September 25th. They set a “buy” rating and a $166.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.92.

Wintrust Financial Profile

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.