Wintrust Financial (NASDAQ:WTFC) Announces Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Wintrust Financial (NASDAQ:WTFC) posted its quarterly earnings results on Monday. The bank reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.26, Zacks reports. The firm had revenue of $713.17 million for the quarter, compared to the consensus estimate of $707.23 million. Wintrust Financial had a net margin of 19.48% and a return on equity of 12.95%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.69 earnings per share.

Wintrust Financial Price Performance

NASDAQ:WTFC opened at $148.79 on Tuesday. The firm has a market cap of $10.03 billion, a PE ratio of 13.05 and a beta of 0.86. Wintrust Financial has a 12 month low of $100.37 and a 12 month high of $162.96. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $142.95 and its two-hundred day moving average price is $139.63.

Wintrust Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, May 14th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, May 14th. Wintrust Financial’s dividend payout ratio (DPR) is currently 19.30%.

Insider Activity at Wintrust Financial

In other news, EVP Kathleen M. Boege sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $146.38, for a total value of $731,900.00. Following the transaction, the executive vice president directly owned 22,883 shares of the company’s stock, valued at $3,349,613.54. The trade was a 17.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David L. Stoehr sold 2,499 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $146.16, for a total value of $365,253.84. Following the sale, the chief financial officer owned 18,638 shares in the company, valued at approximately $2,724,130.08. This trade represents a 11.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 11,662 shares of company stock valued at $1,705,730. Insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Wintrust Financial

Institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. bought a new stake in shares of Wintrust Financial during the first quarter worth $27,000. Strive Financial Group LLC bought a new position in shares of Wintrust Financial in the fourth quarter valued at about $39,000. State of Wyoming bought a new position in shares of Wintrust Financial in the second quarter valued at about $41,000. Los Angeles Capital Management LLC acquired a new position in Wintrust Financial during the 4th quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Wintrust Financial by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 400 shares of the bank’s stock worth $50,000 after acquiring an additional 320 shares during the last quarter. Institutional investors own 93.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WTFC. Royal Bank Of Canada upped their target price on shares of Wintrust Financial from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. TD Cowen lifted their price objective on Wintrust Financial from $170.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Wintrust Financial in a research note on Wednesday, January 21st. Piper Sandler increased their target price on Wintrust Financial from $161.00 to $184.00 and gave the stock an “overweight” rating in a report on Thursday, January 22nd. Finally, DA Davidson raised their target price on Wintrust Financial from $165.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Wintrust Financial currently has an average rating of “Moderate Buy” and an average target price of $163.62.

Wintrust Financial Company Profile

Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.

The firm’s core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.