Jennison Associates LLC Has $138.88 Million Position in Wintrust Financial Corporation $WTFC

Key Points

• Jennison Associates trimmed its position by 2.7% and now holds 993,304 shares of Wintrust, valued at about $138.88 million (roughly 1.48% of the company).
• Wintrust beat quarterly expectations, reporting $3.22 EPS versus $2.96 estimated and revenue of $713.17M (vs. $707.23M), with revenue up 10.9% year-over-year and strong profitability metrics (20.11% net margin, 13.15% ROE).
• Analysts are broadly positive: MarketBeat shows a consensus rating of "Moderate Buy" with an average target price of $168.92 and several recent upward target revisions.

Jennison Associates LLC lowered its position in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 993,304 shares of the bank's stock after selling 27,356 shares during the quarter. Jennison Associates LLC owned 1.48% of Wintrust Financial worth $138,884,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WTFC. Advisors Asset Management Inc. acquired a new position in Wintrust Financial during the first quarter valued at approximately $27,000. Root Financial Partners LLC acquired a new position in Wintrust Financial during the third quarter valued at approximately $27,000. State of Wyoming acquired a new position in Wintrust Financial during the second quarter valued at approximately $41,000. Quent Capital LLC acquired a new position in Wintrust Financial during the third quarter valued at approximately $41,000. Finally, Richardson Financial Services Inc. grew its holdings in Wintrust Financial by 75.3% during the third quarter. Richardson Financial Services Inc. now owns 312 shares of the bank's stock valued at $41,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 93.48% of the company's stock.

Analyst Ratings Changes

WTFC has been the subject of several research analyst reports. UBS Group reiterated a "buy" rating and issued a $176.00 price target on shares of Wintrust Financial in a report on Wednesday, February 4th. Barclays upped their price target on shares of Wintrust Financial from $185.00 to $190.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Piper Sandler reiterated an "overweight" rating and issued a $188.00 price target (up from $184.00) on shares of Wintrust Financial in a report on Wednesday, April 22nd. DA Davidson reiterated a "buy" rating and issued a $165.00 price target on shares of Wintrust Financial in a report on Tuesday, April 21st. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Wintrust Financial in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $168.92.

Wintrust Financial Stock Performance

Shares of WTFC opened at $148.39 on Thursday. Wintrust Financial Corporation has a 12 month low of $110.54 and a 12 month high of $162.96. The firm has a fifty day simple moving average of $142.29 and a 200 day simple moving average of $140.48. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 12.49 and a beta of 0.86. 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 - Get Free Report) last announced its earnings results on Monday, April 20th. The bank reported $3.22 EPS for the quarter, topping the consensus estimate of $2.96 by $0.26. Wintrust Financial had a net margin of 20.11% and a return on equity of 13.15%. The business had revenue of $713.17 million during the quarter, compared to analysts' expectations of $707.23 million. During the same quarter in the prior year, the company posted $2.69 earnings per share. The firm's revenue was up 10.9% on a year-over-year basis. Research analysts forecast that Wintrust Financial Corporation will post 13.07 EPS for the current fiscal year.

Wintrust Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, May 14th will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, May 14th. This represents a $2.20 annualized dividend and a yield of 1.5%. Wintrust Financial's dividend payout ratio is presently 18.44%.

Insider Buying and Selling

In related news, COO David A. Dykstra sold 9,579 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $148.82, for a total transaction of $1,425,546.78. Following the completion of the transaction, the chief operating officer owned 179,810 shares in the company, valued at approximately $26,759,324.20. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Eric Lee sold 558 shares of the company's stock in a transaction on Friday, January 30th. The stock was sold at an average price of $147.42, for a total transaction of $82,260.36. Following the sale, the insider directly owned 16,085 shares in the company, valued at $2,371,250.70. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 13,157 shares of company stock worth $1,962,166. 1.24% of the stock is owned by insiders.

Wintrust Financial 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.

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