Massachusetts Financial Services Co. MA Sells 87,230 Shares of Wintrust Financial Corporation (NASDAQ:WTFC)

Massachusetts Financial Services Co. MA trimmed its holdings in Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 22.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,380 shares of the bank's stock after selling 87,230 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.44% of Wintrust Financial worth $33,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in WTFC. Park Place Capital Corp lifted its holdings in shares of Wintrust Financial by 1,264.7% in the 1st quarter. Park Place Capital Corp now owns 232 shares of the bank's stock worth $26,000 after acquiring an additional 215 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Wintrust Financial during the 1st quarter valued at about $36,000. Opal Wealth Advisors LLC acquired a new stake in shares of Wintrust Financial during the first quarter worth about $38,000. Millstone Evans Group LLC purchased a new position in Wintrust Financial in the fourth quarter valued at approximately $43,000. Finally, Parallel Advisors LLC boosted its stake in Wintrust Financial by 33.9% during the 1st quarter. Parallel Advisors LLC now owns 593 shares of the bank's stock worth $67,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 93.48% of the company's stock.

Wintrust Financial Stock Up 2.8%

WTFC stock opened at $133.30 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a market cap of $8.92 billion, a P/E ratio of 13.18 and a beta of 0.82. The company's 50-day moving average price is $123.40 and its 200 day moving average price is $120.10. Wintrust Financial Corporation has a 52 week low of $89.10 and a 52 week high of $142.04.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The bank reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.17. The company had revenue of $643.11 million during the quarter, compared to the consensus estimate of $643.11 million. Wintrust Financial had a net margin of 17.32% and a return on equity of 12.00%. During the same period in the previous year, the firm earned $2.89 earnings per share. On average, research analysts expect that Wintrust Financial Corporation will post 10.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WTFC. Stephens decreased their target price on Wintrust Financial from $145.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Barclays reissued an "overweight" rating and set a $162.00 price objective (up previously from $145.00) on shares of Wintrust Financial in a report on Tuesday, July 8th. DA Davidson cut their price objective on Wintrust Financial from $140.00 to $135.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Jefferies Financial Group set a $145.00 price objective on Wintrust Financial and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, Wall Street Zen upgraded Wintrust Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $138.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.