Westfield Capital Management Co. LP Acquires New Holdings in Wintrust Financial Co. (NASDAQ:WTFC)

Westfield Capital Management Co. LP bought a new position in shares of Wintrust Financial Co. (NASDAQ:WTFC) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 337,107 shares of the bank’s stock, valued at approximately $31,267,000. Westfield Capital Management Co. LP owned approximately 0.55% of Wintrust Financial at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Wintrust Financial by 2,131.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 73,913 shares of the bank’s stock valued at $6,855,000 after buying an additional 70,601 shares during the period. Access Investment Management LLC bought a new stake in shares of Wintrust Financial in the fourth quarter valued at about $1,624,000. UBS Group AG boosted its position in shares of Wintrust Financial by 61.3% during the third quarter. UBS Group AG now owns 32,210 shares of the bank’s stock worth $2,432,000 after buying an additional 12,243 shares during the period. abrdn plc grew its holdings in shares of Wintrust Financial by 24.6% during the third quarter. abrdn plc now owns 344,631 shares of the bank’s stock worth $26,020,000 after buying an additional 68,042 shares in the last quarter. Finally, Boston Partners raised its position in Wintrust Financial by 13.4% in the 3rd quarter. Boston Partners now owns 644,050 shares of the bank’s stock valued at $48,549,000 after buying an additional 75,994 shares during the last quarter. Institutional investors own 93.48% of the company’s stock.

Analysts Set New Price Targets

WTFC has been the subject of several research reports. Stephens reaffirmed an “overweight” rating and set a $110.00 price target on shares of Wintrust Financial in a research note on Tuesday, April 16th. Jefferies Financial Group raised their price objective on Wintrust Financial from $114.00 to $120.00 and gave the company a “buy” rating in a report on Monday, April 8th. Truist Financial dropped their target price on Wintrust Financial from $117.00 to $112.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Wedbush restated an “outperform” rating and issued a $116.00 price target on shares of Wintrust Financial in a research note on Thursday, April 18th. Finally, StockNews.com raised Wintrust Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $112.33.

Wintrust Financial Stock Performance

WTFC stock traded up $0.90 during midday trading on Friday, reaching $97.70. 178,613 shares of the company were exchanged, compared to its average volume of 254,600. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 10.10 and a beta of 1.21. The business has a 50-day moving average price of $99.79 and a two-hundred day moving average price of $95.14. Wintrust Financial Co. has a one year low of $62.87 and a one year high of $105.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.98 and a quick ratio of 0.97.

Wintrust Financial (NASDAQ:WTFC) last announced its earnings results on Thursday, April 18th. The bank reported $2.89 EPS for the quarter, topping the consensus estimate of $2.42 by $0.47. The business had revenue of $604.77 million during the quarter, compared to the consensus estimate of $577.80 million. Wintrust Financial had a net margin of 17.86% and a return on equity of 13.09%. Wintrust Financial’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.80 EPS. Equities research analysts forecast that Wintrust Financial Co. will post 10.14 EPS for the current year.

Wintrust Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were given a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.84%. Wintrust Financial’s payout ratio is presently 18.61%.

Insider Activity at Wintrust Financial

In other Wintrust Financial news, insider Edward J. Wehmer sold 9,500 shares of Wintrust Financial stock in a transaction dated 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 sale, the insider now owns 177,124 shares in the company, valued at approximately $17,599,040.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.47% of the stock is currently owned by corporate 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.