Connor Clark & Lunn Investment Management Ltd. Sells 13,992 Shares of Wintrust Financial Corporation $WTFC

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Wintrust Financial Corporation (NASDAQ:WTFC) by 70.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,915 shares of the bank’s stock after selling 13,992 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Wintrust Financial were worth $733,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Maseco LLP purchased a new stake in shares of Wintrust Financial in the second quarter valued at approximately $25,000. Advisors Asset Management Inc. bought a new stake in Wintrust Financial during the 1st quarter valued at $27,000. AlphaQuest LLC bought a new position in shares of Wintrust Financial during the 1st quarter worth $33,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Wintrust Financial by 52.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 289 shares of the bank’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Finally, REAP Financial Group LLC lifted its stake in Wintrust Financial by 196.0% in the second quarter. REAP Financial Group LLC now owns 296 shares of the bank’s stock worth $37,000 after acquiring an additional 196 shares during the period. 93.48% of the stock is owned by hedge funds and other institutional investors.

Wintrust Financial Stock Performance

Shares of WTFC opened at $125.21 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50-day moving average of $130.31 and a two-hundred day moving average of $127.80. The stock has a market cap of $8.39 billion, a P/E ratio of 11.51 and a beta of 0.91. Wintrust Financial Corporation has a one year low of $89.10 and a one year high of $142.04.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings data on Thursday, November 6th. The bank reported $3.06 earnings per share (EPS) for the quarter. The firm had revenue of $1.26 billion during the quarter. Wintrust Financial had a return on equity of 13.05% and a net margin of 18.85%. As a group, research analysts predict that Wintrust Financial Corporation will post 10.36 EPS for the current year.

Wintrust Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, November 6th. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. Wintrust Financial’s payout ratio is currently 18.38%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WTFC. Piper Sandler restated an “overweight” rating and issued a $161.00 price target (up previously from $160.00) on shares of Wintrust Financial in a report on Wednesday, October 22nd. Cowen reissued a “buy” rating on shares of Wintrust Financial in a research note on Wednesday, October 22nd. Jefferies Financial Group dropped their target price on Wintrust Financial from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods lifted their target price on Wintrust Financial from $130.00 to $138.00 and gave the company a “market perform” rating in a research note on Wednesday, July 23rd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $158.00 price target on shares of Wintrust Financial in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.92.

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.