Massachusetts Financial Services Co. MA Reduces Position in Wintrust Financial Corporation (NASDAQ:WTFC)

Massachusetts Financial Services Co. MA reduced its holdings in shares of Wintrust Financial Corporation (NASDAQ:WTFC - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 295,380 shares of the bank's stock after selling 87,230 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.44% of Wintrust Financial worth $33,218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Park Place Capital Corp boosted its position in shares of Wintrust Financial by 1,264.7% during the 1st quarter. Park Place Capital Corp now owns 232 shares of the bank's stock valued at $26,000 after purchasing an additional 215 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Wintrust Financial during the first quarter valued at approximately $36,000. Opal Wealth Advisors LLC purchased a new stake in shares of Wintrust Financial during the first quarter valued at approximately $38,000. Millstone Evans Group LLC purchased a new stake in shares of Wintrust Financial during the fourth quarter valued at approximately $43,000. Finally, Parallel Advisors LLC increased its position in Wintrust Financial by 33.9% in the first quarter. Parallel Advisors LLC now owns 593 shares of the bank's stock worth $67,000 after buying an additional 150 shares during the last quarter. Institutional investors own 93.48% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on WTFC shares. DA Davidson cut their price target on Wintrust Financial from $140.00 to $135.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Stephens dropped their price objective on Wintrust Financial from $145.00 to $132.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Truist Financial lowered their price target on Wintrust Financial from $150.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Raymond James Financial reiterated a "strong-buy" rating and issued a $155.00 price objective (up previously from $143.00) on shares of Wintrust Financial in a report on Tuesday, July 8th. Finally, Wall Street Zen upgraded Wintrust Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Wintrust Financial presently has a consensus rating of "Moderate Buy" and an average price target of $139.92.

Wintrust Financial Price Performance

NASDAQ WTFC traded down $2.69 during trading on Monday, hitting $131.38. 943,677 shares of the stock traded hands, compared to its average volume of 428,935. The company has a market capitalization of $8.79 billion, a P/E ratio of 13.00 and a beta of 0.82. The firm has a 50-day simple moving average of $123.75 and a 200-day simple moving average of $120.11. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. Wintrust Financial Corporation has a 12-month low of $89.10 and a 12-month high of $142.04.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The bank reported $2.78 EPS for the quarter, topping the consensus estimate of $2.59 by $0.19. The company had revenue of $670.78 million during the quarter, compared to analyst estimates of $661.43 million. Wintrust Financial had a return on equity of 12.00% and a net margin of 17.32%. During the same quarter last year, the business posted $2.32 earnings per share. As a group, analysts predict that Wintrust Financial Corporation will post 10.36 EPS for the current year.

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.