Mackenzie Financial Corp Buys New Shares in Wintrust Financial Co. (NASDAQ:WTFC)

Mackenzie Financial Corp purchased a new position in shares of Wintrust Financial Co. (NASDAQ:WTFC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,139 shares of the bank's stock, valued at approximately $516,000.

Other hedge funds have also modified their holdings of the company. Millstone Evans Group LLC purchased a new position in shares of Wintrust Financial during the 4th quarter worth $43,000. Global Retirement Partners LLC grew its holdings in shares of Wintrust Financial by 63.5% during the 4th quarter. Global Retirement Partners LLC now owns 376 shares of the bank's stock worth $47,000 after purchasing an additional 146 shares during the period. Quarry LP purchased a new position in shares of Wintrust Financial during the 4th quarter worth $78,000. Jones Financial Companies Lllp lifted its stake in Wintrust Financial by 920.9% during the 4th quarter. Jones Financial Companies Lllp now owns 684 shares of the bank's stock worth $85,000 after acquiring an additional 617 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in Wintrust Financial during the 4th quarter worth about $202,000. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. DA Davidson reduced their price target on Wintrust Financial from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Jefferies Financial Group set a $145.00 price target on Wintrust Financial and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Barclays lifted their target price on Wintrust Financial from $138.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Royal Bank of Canada lowered their target price on Wintrust Financial from $152.00 to $135.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, Truist Financial reduced their price target on Wintrust Financial from $150.00 to $137.00 and set a "buy" rating for the company in a report on Friday, April 25th. Three investment 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 MarketBeat.com, Wintrust Financial has a consensus rating of "Moderate Buy" and an average price target of $135.77.

Wintrust Financial Price Performance

WTFC stock traded up $2.83 during midday trading on Friday, hitting $121.72. 263,812 shares of the stock were exchanged, compared to its average volume of 429,356. The stock's 50-day moving average price is $112.04 and its 200-day moving average price is $121.37. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 11.81 and a beta of 0.82. Wintrust Financial Co. has a fifty-two week low of $89.10 and a fifty-two week high of $142.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.01.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued 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 firm had revenue of $643.11 million during the quarter, compared to analysts' expectations of $643.11 million. Wintrust Financial had a return on equity of 12.60% and a net margin of 17.52%. During the same period in the previous year, the firm posted $2.89 earnings per share. Research analysts predict that Wintrust Financial Co. will post 10.36 earnings per share for the current year.

Wintrust Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were issued a $0.50 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.64%. Wintrust Financial's dividend payout ratio (DPR) is 19.78%.

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.