Westfield Capital Management Co. LP Reduces Stake in Wintrust Financial Co. (NASDAQ:WTFC)

Westfield Capital Management Co. LP reduced its position in Wintrust Financial Co. (NASDAQ:WTFC) by 6.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 313,937 shares of the bank’s stock after selling 23,170 shares during the period. Westfield Capital Management Co. LP owned approximately 0.51% of Wintrust Financial worth $32,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of WTFC. Allspring Global Investments Holdings LLC raised its holdings in Wintrust Financial by 2,131.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 73,913 shares of the bank’s stock valued at $6,855,000 after acquiring an additional 70,601 shares during the period. Clearbridge Investments LLC raised its stake in shares of Wintrust Financial by 5.9% during the fourth quarter. Clearbridge Investments LLC now owns 258,610 shares of the bank’s stock valued at $23,986,000 after acquiring an additional 14,409 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Wintrust Financial by 13.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 538,489 shares of the bank’s stock valued at $49,945,000 after acquiring an additional 65,179 shares in the last quarter. Access Investment Management LLC bought a new position in Wintrust Financial in the fourth quarter worth approximately $1,624,000. Finally, Alberta Investment Management Corp raised its stake in Wintrust Financial by 61.0% in the fourth quarter. Alberta Investment Management Corp now owns 32,113 shares of the bank’s stock worth $2,978,000 after buying an additional 12,165 shares in the last quarter. 93.48% of the stock is owned by institutional investors.

Wintrust Financial Price Performance

WTFC traded down $1.24 during trading on Friday, reaching $105.02. The company’s stock had a trading volume of 612,840 shares, compared to its average volume of 452,157. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.85. The firm has a fifty day simple moving average of $98.47 and a two-hundred day simple moving average of $97.83. Wintrust Financial Co. has a 1 year low of $71.86 and a 1 year high of $113.68. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 10.86 and a beta of 1.18.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings results on Wednesday, July 17th. The bank reported $2.32 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.10). The firm had revenue of $591.76 million for the quarter, compared to analysts’ expectations of $587.33 million. Wintrust Financial had a net margin of 17.02% and a return on equity of 12.71%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.38 EPS. As a group, analysts anticipate that Wintrust Financial Co. will post 10.1 EPS for the current year.

Wintrust Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.80 annualized dividend and a yield of 1.71%. Wintrust Financial’s dividend payout ratio (DPR) is presently 18.61%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WTFC. Citigroup dropped their price objective on shares of Wintrust Financial from $115.00 to $113.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Hovde Group reaffirmed a “market perform” rating and issued a $100.00 price target on shares of Wintrust Financial in a report on Friday, June 21st. Royal Bank of Canada upped their price target on shares of Wintrust Financial from $116.00 to $117.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. StockNews.com raised shares of Wintrust Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Finally, Jefferies Financial Group lowered their price target on shares of Wintrust Financial from $118.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

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.