Jennison Associates LLC Decreases Stake in Wintrust Financial Co. (NASDAQ:WTFC)

Jennison Associates LLC lowered its holdings in Wintrust Financial Co. (NASDAQ:WTFCFree Report) by 37.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 375,800 shares of the bank’s stock after selling 220,832 shares during the quarter. Jennison Associates LLC’s holdings in Wintrust Financial were worth $39,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Johnson Financial Group Inc. purchased a new position in Wintrust Financial in the 4th quarter worth about $25,000. Concord Wealth Partners bought a new position in Wintrust Financial during the first quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in Wintrust Financial in the first quarter worth approximately $27,000. Quent Capital LLC grew its position in Wintrust Financial by 120.8% in the 4th quarter. Quent Capital LLC now owns 351 shares of the bank’s stock worth $33,000 after purchasing an additional 192 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in Wintrust Financial during the 4th quarter valued at $41,000. 93.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WTFC has been the topic of a number of research reports. Barclays dropped their price target on Wintrust Financial from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Jefferies Financial Group lowered their price objective on shares of Wintrust Financial from $118.00 to $116.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. StockNews.com upgraded shares of Wintrust Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Citigroup decreased their price target on shares of Wintrust Financial from $115.00 to $113.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Hovde Group reissued a “market perform” rating and set a $100.00 price objective on shares of Wintrust Financial in a research report on Friday, June 21st. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.77.

Read Our Latest Stock Report on WTFC

Wintrust Financial Stock Performance

NASDAQ:WTFC opened at $98.63 on Wednesday. The stock has a 50-day moving average price of $97.56 and a 200 day moving average price of $97.14. The stock has a market capitalization of $6.09 billion, a P/E ratio of 10.20 and a beta of 1.18. Wintrust Financial Co. has a 12-month low of $71.86 and a 12-month high of $105.29. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.78.

Wintrust Financial (NASDAQ:WTFCGet Free Report) last released its quarterly earnings data on Thursday, April 18th. The bank reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.47. Wintrust Financial had a net margin of 17.86% and a return on equity of 13.09%. The firm had revenue of $604.77 million for the quarter, compared to analysts’ expectations of $577.80 million. During the same quarter last year, the business posted $2.80 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Wintrust Financial Co. will post 10.11 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Wednesday, May 8th. Wintrust Financial’s payout ratio is currently 18.61%.

About Wintrust Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Wintrust Financial (NASDAQ:WTFC)

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