Wellington Management Group LLP Reduces Stock Position in Wintrust Financial Co. (NASDAQ:WTFC)

Wellington Management Group LLP reduced its stake in Wintrust Financial Co. (NASDAQ:WTFC - Free Report) by 31.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 169,197 shares of the bank's stock after selling 78,955 shares during the quarter. Wellington Management Group LLP owned about 0.25% of Wintrust Financial worth $18,363,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WTFC. International Assets Investment Management LLC acquired a new position in shares of Wintrust Financial in the 3rd quarter worth approximately $35,000. UMB Bank n.a. raised its stake 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 buying an additional 196 shares during the last quarter. Brooklyn Investment Group acquired a new position in Wintrust Financial in the third quarter valued at $61,000. Covestor Ltd boosted its position in Wintrust Financial by 77.9% during the third quarter. Covestor Ltd now owns 653 shares of the bank's stock valued at $71,000 after acquiring an additional 286 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Wintrust Financial by 11.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 866 shares of the bank's stock worth $85,000 after acquiring an additional 91 shares during the period. 93.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Piper Sandler boosted their price objective on Wintrust Financial from $131.00 to $136.00 and gave the company an "overweight" 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 stock a "buy" rating in a report on Wednesday, October 23rd. Raymond James raised their price objective on shares of Wintrust Financial from $125.00 to $135.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, October 23rd. Barclays boosted their target price on shares of Wintrust Financial from $130.00 to $151.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Finally, Citigroup raised their price target 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. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Wintrust Financial presently has an average rating of "Moderate Buy" and an average price target of $124.62.

Wintrust Financial Stock Down 1.3 %

NASDAQ WTFC traded down $1.74 during trading hours on Friday, hitting $131.41. The company's stock had a trading volume of 430,963 shares, compared to its average volume of 367,891. 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's 50-day simple moving average is $124.79 and its two-hundred day simple moving average is $109.88. The company has a market capitalization of $8.74 billion, a PE ratio of 13.76 and a beta of 1.18. Wintrust Financial Co. has a 52 week low of $89.68 and a 52 week high of $142.04.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its earnings results on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.03). The company had revenue of $615.73 million for the quarter, compared to analysts' expectations of $623.45 million. Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.53 EPS. Research analysts anticipate that Wintrust Financial Co. will post 10.12 EPS for the current fiscal year.

Wintrust Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th were issued a $0.45 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. Wintrust Financial's dividend payout ratio is currently 18.85%.

Insider Activity at Wintrust Financial

In related news, COO David A. Dykstra sold 15,492 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $115.48, for a total transaction of $1,789,016.16. Following the completion of the sale, the chief operating officer now directly owns 197,591 shares of the company's stock, valued at approximately $22,817,808.68. This trade represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Richard B. Murphy sold 4,099 shares of the business's 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 completion of the transaction, the insider now directly owns 42,311 shares in the company, valued at approximately $4,892,420.93. This represents a 8.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,198 shares of company stock valued at $2,445,314 over the last ninety days. Corporate insiders own 1.47% of the company's stock.

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.