Jennison Associates LLC Decreases Holdings in Wintrust Financial Corporation $WTFC

Jennison Associates LLC decreased its stake in Wintrust Financial Corporation (NASDAQ:WTFC) by 14.6% during the 1st quarter, Holdings Channel reports. The firm owned 848,645 shares of the bank’s stock after selling 144,659 shares during the quarter. Jennison Associates LLC’s holdings in Wintrust Financial were worth $117,911,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WTFC. Norges Bank purchased a new position in Wintrust Financial in the 4th quarter valued at about $111,924,000. Wellington Management Group LLP purchased a new stake in Wintrust Financial during the 3rd quarter worth approximately $90,187,000. Artemis Investment Management LLP acquired a new position in shares of Wintrust Financial during the fourth quarter valued at approximately $59,287,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Wintrust Financial during the first quarter valued at approximately $34,272,000. Finally, Balyasny Asset Management L.P. lifted its position in shares of Wintrust Financial by 491.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 254,329 shares of the bank’s stock valued at $35,560,000 after acquiring an additional 211,338 shares in the last quarter. Hedge funds and other institutional investors own 93.48% of the company’s stock.

Insider Buying and Selling at Wintrust Financial

In other news, CFO David L. Stoehr sold 3,020 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $150.45, for a total transaction of $454,359.00. Following the transaction, the chief financial officer owned 13,213 shares of the company’s stock, valued at approximately $1,987,895.85. The trade was a 18.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO David A. Dykstra sold 9,579 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $148.82, for a total transaction of $1,425,546.78. Following the sale, the chief operating officer owned 179,810 shares of the company’s stock, valued at approximately $26,759,324.20. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,099 shares of company stock worth $1,954,386 in the last three months. 1.24% of the stock is owned by corporate insiders.

Wintrust Financial Trading Down 1.6%

WTFC opened at $164.30 on Friday. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 13.77 and a beta of 0.84. The company’s 50 day simple moving average is $155.22 and its two-hundred day simple moving average is $148.85. Wintrust Financial Corporation has a 1-year low of $119.61 and a 1-year high of $167.21. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.98 and a quick ratio of 0.97.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings results on Monday, April 20th. The bank reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.96 by $0.26. Wintrust Financial had a return on equity of 13.15% and a net margin of 20.11%.The business had revenue of $713.17 million during the quarter, compared to analyst estimates of $707.23 million. During the same period in the prior year, the business earned $2.69 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. Analysts expect that Wintrust Financial Corporation will post 13.03 EPS for the current fiscal year.

Analyst Ratings Changes

WTFC has been the topic of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $188.00 price target (up from $184.00) on shares of Wintrust Financial in a research note on Wednesday, April 22nd. Truist Financial increased their price objective on Wintrust Financial from $170.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings restated a “buy (b)” rating on shares of Wintrust Financial in a report on Monday, June 29th. Royal Bank Of Canada lifted their target price on shares of Wintrust Financial from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Barclays upped their target price on shares of Wintrust Financial from $190.00 to $192.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.92.

Wintrust Financial Profile

Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.

The firm’s core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.