Jennison Associates LLC Has $55.34 Million Holdings in Wintrust Financial Co. (NASDAQ:WTFC)

Jennison Associates LLC grew its holdings in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 102.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 596,632 shares of the bank’s stock after acquiring an additional 301,528 shares during the quarter. Jennison Associates LLC’s holdings in Wintrust Financial were worth $55,338,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quent Capital LLC lifted its holdings in shares of Wintrust Financial by 120.8% during the 4th quarter. Quent Capital LLC now owns 351 shares of the bank’s stock worth $33,000 after acquiring an additional 192 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new position in Wintrust Financial in the 4th quarter valued at approximately $46,000. Huntington National Bank increased its position in shares of Wintrust Financial by 30.6% during the third quarter. Huntington National Bank now owns 725 shares of the bank’s stock worth $55,000 after buying an additional 170 shares during the period. Ronald Blue Trust Inc. lifted its stake in shares of Wintrust Financial by 347.8% in the third quarter. Ronald Blue Trust Inc. now owns 824 shares of the bank’s stock valued at $60,000 after buying an additional 640 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Wintrust Financial by 21.7% during the third quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the bank’s stock valued at $78,000 after purchasing an additional 183 shares in the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.

Wall Street Analysts Forecast Growth

WTFC has been the subject of several recent research reports. Wedbush reiterated an “outperform” rating and issued a $116.00 target price on shares of Wintrust Financial in a research note on Thursday, April 18th. Raymond James boosted their price objective on shares of Wintrust Financial from $95.00 to $115.00 and gave the company a “strong-buy” rating in a research note on Friday, January 19th. UBS Group boosted their price objective on shares of Wintrust Financial from $105.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Royal Bank of Canada boosted their price target on shares of Wintrust Financial from $109.00 to $116.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Finally, Truist Financial cut their price target on shares of Wintrust Financial from $117.00 to $112.00 and set a “buy” rating for the company in a research note on Monday. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wintrust Financial has a consensus rating of “Buy” and a consensus price target of $112.33.

Insider Buying and Selling at Wintrust Financial

In other Wintrust Financial news, EVP Jeffrey D. Hahnfeld sold 588 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $97.88, for a total transaction of $57,553.44. Following the transaction, the executive vice president now owns 3,410 shares in the company, valued at approximately $333,770.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Edward J. Wehmer sold 9,500 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $99.36, for a total value of $943,920.00. Following the completion of the transaction, the insider now directly owns 177,124 shares of the company’s stock, valued at $17,599,040.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey D. Hahnfeld sold 588 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $97.88, for a total value of $57,553.44. Following the completion of the sale, the executive vice president now owns 3,410 shares of the company’s stock, valued at $333,770.80. The disclosure for this sale can be found here. Insiders own 1.47% of the company’s stock.

Wintrust Financial Trading Up 0.6 %

NASDAQ:WTFC opened at $99.88 on Wednesday. The company has a fifty day moving average of $98.38 and a 200 day moving average of $91.33. Wintrust Financial Co. has a 52 week low of $58.12 and a 52 week high of $105.29. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $6.17 billion, a P/E ratio of 10.33 and a beta of 1.21.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.47. Wintrust Financial had a net margin of 17.86% and a return on equity of 13.09%. The company had revenue of $604.77 million during the quarter, compared to analyst estimates of $577.80 million. During the same period in the prior year, the business posted $2.80 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, research analysts predict that Wintrust Financial Co. will post 10.12 earnings per share for the current year.

Wintrust Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were given a dividend of $0.45 per share. This is an increase from Wintrust Financial’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Wednesday, February 7th. Wintrust Financial’s payout ratio is presently 18.61%.

About Wintrust Financial

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.