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

Jennison Associates LLC increased its stake in shares of Wintrust Financial Co. (NASDAQ:WTFC - Free Report) by 19.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 536,252 shares of the bank's stock after purchasing an additional 88,814 shares during the quarter. Jennison Associates LLC owned about 0.81% of Wintrust Financial worth $58,199,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in shares of Wintrust Financial by 825.0% in the 2nd quarter. Versant Capital Management Inc now owns 296 shares of the bank's stock valued at $29,000 after buying an additional 264 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Wintrust Financial in the 3rd quarter valued at about $35,000. UMB Bank n.a. lifted its holdings in Wintrust Financial by 62.0% during the third quarter. UMB Bank n.a. now owns 512 shares of the bank's stock worth $56,000 after acquiring an additional 196 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Wintrust Financial by 77.9% in the third quarter. Covestor Ltd now owns 653 shares of the bank's stock valued at $71,000 after buying an additional 286 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Wintrust Financial by 62.6% during the second quarter. GAMMA Investing LLC now owns 818 shares of the bank's stock worth $81,000 after buying an additional 315 shares during the period. Institutional investors own 93.48% of the company's stock.

Insider Transactions at Wintrust Financial

In related news, insider Richard B. Murphy sold 4,099 shares of the firm's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $115.63, for a total transaction of $473,967.37. Following the sale, the insider now owns 42,311 shares of the company's stock, valued at $4,892,420.93. This trade represents a 8.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO David A. Dykstra sold 15,492 shares of the business'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 sale, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 21,198 shares of company stock valued at $2,445,314. Corporate insiders own 1.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on WTFC shares. Wedbush reissued an "outperform" rating and set a $130.00 price target on shares of Wintrust Financial in a research report on Tuesday, October 22nd. Truist Financial upped their price objective on Wintrust Financial from $123.00 to $127.00 and gave the company a "buy" rating in a research note 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 research note on Wednesday, October 23rd. DA Davidson increased their price target on Wintrust Financial from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler lifted their price objective on shares of Wintrust Financial from $131.00 to $136.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Three investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.

Wintrust Financial Stock Down 0.2 %

NASDAQ WTFC opened at $130.83 on Thursday. The company has a market cap of $8.70 billion, a price-to-earnings ratio of 13.70 and a beta of 1.15. Wintrust Financial Co. has a 1-year low of $82.90 and a 1-year high of $136.08. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $114.83 and a 200-day moving average of $105.75.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The bank reported $2.47 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($0.03). The firm had revenue of $615.73 million for the quarter, compared to the consensus estimate 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 was up 7.1% on a year-over-year basis. During the same period last year, the company posted $2.53 EPS. On average, equities research analysts expect that Wintrust Financial Co. will post 10.12 earnings per share for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th will be paid a $0.45 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 1.38%. Wintrust Financial's payout ratio is 18.85%.

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.

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