MetLife Investment Management LLC Buys 1,831 Shares of Wintrust Financial Co. (NASDAQ:WTFC)

MetLife Investment Management LLC boosted its stake in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,341 shares of the bank’s stock after acquiring an additional 1,831 shares during the period. MetLife Investment Management LLC owned 0.05% of Wintrust Financial worth $3,727,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of WTFC. Versant Capital Management Inc grew its stake in Wintrust Financial by 825.0% during the second quarter. Versant Capital Management Inc now owns 296 shares of the bank’s stock worth $29,000 after buying an additional 264 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Wintrust Financial during the 3rd quarter worth approximately $35,000. UMB Bank n.a. increased its stake in Wintrust Financial by 62.0% in the third quarter. UMB Bank n.a. now owns 512 shares of the bank’s stock valued at $56,000 after acquiring an additional 196 shares during the last quarter. Brooklyn Investment Group acquired a new position in Wintrust Financial during the third quarter valued at approximately $61,000. Finally, Covestor Ltd lifted its stake in Wintrust Financial by 77.9% during the third quarter. Covestor Ltd now owns 653 shares of the bank’s stock worth $71,000 after purchasing an additional 286 shares during the last quarter. Institutional investors own 93.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $130.00 price target on shares of Wintrust Financial in a research note on Tuesday, October 22nd. Raymond James lifted their target price on Wintrust Financial from $125.00 to $135.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 23rd. Citigroup increased their target price on shares of Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Piper Sandler lifted their price target on shares of Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Truist Financial upped their price objective on shares of Wintrust Financial from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wintrust Financial currently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Insider Activity

In other news, insider Richard B. Murphy sold 4,099 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $115.63, for a total value of $473,967.37. Following the transaction, the insider now directly owns 42,311 shares of the company’s stock, valued at $4,892,420.93. The trade was a 8.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO David A. Dykstra sold 15,492 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $115.48, for a total value of $1,789,016.16. Following the sale, the chief operating officer now owns 197,591 shares in the company, valued at approximately $22,817,808.68. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,198 shares of company stock valued at $2,445,314. 1.47% of the stock is currently owned by insiders.

Wintrust Financial Stock Performance

NASDAQ WTFC opened at $137.29 on Tuesday. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 14.45 and a beta of 1.18. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.73. Wintrust Financial Co. has a twelve month low of $88.31 and a twelve month high of $142.04. The stock has a fifty day simple moving average of $119.10 and a 200 day simple moving average of $107.54.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings results on Monday, October 21st. The bank reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.03). The company had revenue of $615.73 million during the quarter, compared to analyst estimates of $623.45 million. Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.53 EPS. Sell-side analysts expect that Wintrust Financial Co. will post 10.12 EPS for the current year.

Wintrust Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Thursday, November 7th. Wintrust Financial’s dividend payout ratio is currently 18.85%.

Wintrust Financial Company 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.