Massachusetts Financial Services Co. MA Sells 11,929 Shares of Wintrust Financial Co. (NASDAQ:WTFC)

Massachusetts Financial Services Co. MA lessened its position in shares of Wintrust Financial Co. (NASDAQ:WTFC) by 2.7% during the third quarter, HoldingsChannel.com reports. The fund owned 431,147 shares of the bank’s stock after selling 11,929 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Wintrust Financial were worth $46,792,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WTFC. Dimensional Fund Advisors LP grew its position in shares of Wintrust Financial by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock valued at $297,376,000 after purchasing an additional 146,090 shares in the last quarter. Principal Financial Group Inc. increased its stake in Wintrust Financial by 11.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,308,254 shares of the bank’s stock worth $141,981,000 after acquiring an additional 133,311 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Wintrust Financial by 1.8% in the 2nd quarter. Federated Hermes Inc. now owns 815,466 shares of the bank’s stock valued at $80,372,000 after acquiring an additional 14,087 shares in the last quarter. Reinhart Partners LLC. boosted its position in shares of Wintrust Financial by 6.4% during the 3rd quarter. Reinhart Partners LLC. now owns 781,393 shares of the bank’s stock valued at $84,805,000 after acquiring an additional 47,242 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. grew its holdings in shares of Wintrust Financial by 15.5% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 630,824 shares of the bank’s stock worth $62,174,000 after purchasing an additional 84,687 shares in the last quarter. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and issued a $130.00 target price on shares of Wintrust Financial in a research report on Tuesday, October 22nd. Raymond James increased their price target on shares of Wintrust Financial from $125.00 to $135.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 23rd. Citigroup boosted their price objective on shares of Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, DA Davidson increased their target price on shares of Wintrust Financial from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Wintrust Financial Price Performance

Shares of Wintrust Financial stock opened at $137.08 on Monday. The company’s fifty day simple moving average is $116.10 and its two-hundred day simple moving average is $106.27. Wintrust Financial Co. has a 12-month low of $82.90 and a 12-month high of $137.32. The firm has a market cap of $9.11 billion, a PE ratio of 14.35 and a beta of 1.15. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.73.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings results on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.03). Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. The business had revenue of $615.73 million for the quarter, compared to analysts’ expectations of $623.45 million. During the same quarter in the prior year, the firm earned $2.53 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts expect that Wintrust Financial Co. will post 10.12 EPS for the current year.

Wintrust Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 7th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.31%. Wintrust Financial’s dividend payout ratio is presently 18.85%.

Insider Buying and Selling

In other news, COO David A. Dykstra sold 15,492 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $115.48, for a total value of $1,789,016.16. Following the completion of the sale, the chief operating officer now directly owns 197,591 shares of the company’s stock, valued at approximately $22,817,808.68. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Richard B. Murphy sold 4,099 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $115.63, for a total transaction of $473,967.37. Following the transaction, the insider now owns 42,311 shares in the company, valued at $4,892,420.93. This represents a 8.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,198 shares of company stock valued at $2,445,314 over the last quarter. 1.47% of the stock is owned by company insiders.

Wintrust Financial Company 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.