Jennison Associates LLC Acquires 88,814 Shares of Wintrust Financial Co. (NASDAQ:WTFC)

Jennison Associates LLC increased its holdings in Wintrust Financial Co. (NASDAQ:WTFC) by 19.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 536,252 shares of the bank’s stock after purchasing an additional 88,814 shares during the quarter. Jennison Associates LLC’s holdings in Wintrust Financial were worth $58,199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Wintrust Financial by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock valued at $673,603,000 after buying an additional 244,168 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Wintrust Financial by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock valued at $297,376,000 after acquiring an additional 146,090 shares during the last quarter. Capital International Investors increased its position in Wintrust Financial by 4.6% during the 1st quarter. Capital International Investors now owns 1,638,085 shares of the bank’s stock valued at $171,000,000 after purchasing an additional 72,082 shares during the period. Principal Financial Group Inc. raised its holdings in Wintrust Financial by 11.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,308,254 shares of the bank’s stock worth $141,981,000 after purchasing an additional 133,311 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Wintrust Financial by 1.8% in the 2nd quarter. Federated Hermes Inc. now owns 815,466 shares of the bank’s stock worth $80,372,000 after purchasing an additional 14,087 shares during the period. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Wintrust Financial

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

Wintrust Financial Trading Down 0.2 %

NASDAQ:WTFC opened at $130.83 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 1.01. Wintrust Financial Co. has a one year low of $82.90 and a one year high of $136.08. The company has a market cap of $8.70 billion, a PE ratio of 13.70 and a beta of 1.15. The firm has a 50-day moving average of $114.83 and a 200-day moving average of $105.75.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings data on Monday, October 21st. The bank reported $2.47 EPS 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 analysts’ expectations of $623.45 million. Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $2.53 earnings per share. As a group, equities research analysts expect that Wintrust Financial Co. will post 10.12 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, November 7th. Wintrust Financial’s dividend payout ratio is 18.85%.

Analyst Upgrades and Downgrades

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

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.