Jennison Associates LLC Raises Stock Position in Wintrust Financial Corporation $WTFC

Jennison Associates LLC lifted its position in Wintrust Financial Corporation (NASDAQ:WTFC) by 16.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 936,834 shares of the bank’s stock after buying an additional 129,444 shares during the period. Jennison Associates LLC’s holdings in Wintrust Financial were worth $116,149,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Bessemer Group Inc. boosted its stake in Wintrust Financial by 19.0% in the 2nd quarter. Bessemer Group Inc. now owns 600 shares of the bank’s stock worth $74,000 after purchasing an additional 96 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Wintrust Financial by 12.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 393,955 shares of the bank’s stock worth $48,843,000 after purchasing an additional 43,972 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Wintrust Financial by 1.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,252 shares of the bank’s stock worth $2,263,000 after purchasing an additional 232 shares in the last quarter. MQS Management LLC acquired a new stake in Wintrust Financial in the 2nd quarter worth approximately $587,000. Finally, State of New Jersey Common Pension Fund D boosted its stake in Wintrust Financial by 1.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 15,866 shares of the bank’s stock worth $1,967,000 after purchasing an additional 229 shares in the last quarter. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Truist Financial lifted their target price on shares of Wintrust Financial from $151.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. TD Cowen initiated coverage on shares of Wintrust Financial in a research note on Thursday, September 25th. They issued a “buy” rating and a $166.00 target price for the company. Royal Bank Of Canada lifted their price objective on shares of Wintrust Financial from $137.00 to $158.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of Wintrust Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Wintrust Financial from $130.00 to $138.00 and gave the company a “market perform” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Wintrust Financial currently has a consensus rating of “Moderate Buy” and an average target price of $152.92.

Wintrust Financial Stock Down 1.4%

WTFC stock opened at $129.45 on Wednesday. The firm’s fifty day simple moving average is $132.57 and its 200-day simple moving average is $125.38. The company has a market capitalization of $8.67 billion, a P/E ratio of 11.90 and a beta of 0.83. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01. Wintrust Financial Corporation has a 12 month low of $89.10 and a 12 month high of $142.04.

Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Monday, October 20th. The bank reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.43. Wintrust Financial had a net margin of 18.85% and a return on equity of 13.05%. The firm had revenue of $697.84 million during the quarter, compared to analysts’ expectations of $689.10 million. During the same period in the previous year, the business posted $2.47 EPS. As a group, equities research analysts forecast that Wintrust Financial Corporation will post 10.36 earnings per share for the current year.

Wintrust Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. Wintrust Financial’s dividend payout ratio is 18.38%.

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.