Wellington Management Group LLP Decreases Holdings in Wintrust Financial Corporation $WTFC

Wellington Management Group LLP trimmed its holdings in shares of Wintrust Financial Corporation (NASDAQ:WTFC) by 29.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 584,881 shares of the bank’s stock after selling 247,471 shares during the period. Wellington Management Group LLP owned about 0.87% of Wintrust Financial worth $94,002,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Wintrust Financial during the second quarter worth about $27,000. Advisors Asset Management Inc. purchased a new position in Wintrust Financial in the first quarter valued at about $27,000. Elyxium Wealth LLC purchased a new position in Wintrust Financial in the fourth quarter valued at about $31,000. Creative Financial Designs Inc. ADV grew its position in shares of Wintrust Financial by 231.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 229 shares of the bank’s stock valued at $32,000 after acquiring an additional 160 shares during the period. Finally, Harbour Investments Inc. grew its position in shares of Wintrust Financial by 72.7% during the 4th quarter. Harbour Investments Inc. now owns 240 shares of the bank’s stock valued at $34,000 after acquiring an additional 101 shares during the period. Institutional investors own 93.48% of the company’s stock.

Insider Activity

In related news, COO David A. Dykstra sold 13,515 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $162.77, for a total transaction of $2,199,836.55. Following the sale, the chief operating officer directly owned 166,449 shares in the company, valued at approximately $27,092,903.73. The trade was a 7.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on WTFC. Raymond James Financial initiated coverage on shares of Wintrust Financial in a report on Tuesday, July 7th. They issued an “outperform” rating and a $180.00 price target on the stock. DA Davidson raised their target price on Wintrust Financial from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. TD Cowen lowered their target price on Wintrust Financial from $184.00 to $183.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Barclays upped their price target on Wintrust Financial from $190.00 to $192.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, Citigroup downgraded Wintrust Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wintrust Financial presently has an average rating of “Moderate Buy” and an average target price of $177.77.

Wintrust Financial Stock Down 1.1%

WTFC opened at $148.74 on Wednesday. The company has a 50 day moving average of $159.23 and a 200 day moving average of $151.04. The company has a market cap of $10.04 billion, a PE ratio of 11.95 and a beta of 0.84. Wintrust Financial Corporation has a 12 month low of $119.61 and a 12 month high of $167.21. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62.

Wintrust Financial (NASDAQ:WTFC) last issued its earnings results on Monday, July 20th. The bank reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.15. The business had revenue of $738.63 million for the quarter, compared to analysts’ expectations of $735.36 million. Wintrust Financial had a net margin of 20.72% and a return on equity of 13.37%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.78 EPS. On average, sell-side analysts expect that Wintrust Financial Corporation will post 13.04 EPS for the current year.

Wintrust Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a $0.55 dividend. The ex-dividend date was Thursday, August 6th. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. Wintrust Financial’s payout ratio is 17.67%.

Wintrust Financial Company 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.