Wintrust Financial (NASDAQ:WTFC) Sets New 12-Month High on Strong Earnings

Wintrust Financial Corporation (NASDAQ:WTFC)’s share price hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $150.98 and last traded at $148.7250, with a volume of 84788 shares. The stock had previously closed at $144.72.

The bank reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Wintrust Financial had a return on equity of 12.82% and a net margin of 18.85%.The business had revenue of $586.67 million for the quarter, compared to analysts’ expectations of $700.85 million. During the same quarter in the prior year, the firm posted $2.63 EPS.

Wintrust Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $2.00 annualized dividend and a yield of 1.3%. Wintrust Financial’s dividend payout ratio is 18.38%.

Analyst Ratings Changes

Several equities research analysts recently commented on WTFC shares. DA Davidson reiterated a “buy” rating and issued a $158.00 price objective on shares of Wintrust Financial in a research report on Tuesday, October 21st. Cowen restated a “buy” rating on shares of Wintrust Financial in a report on Wednesday, January 7th. Barclays lifted their target price on shares of Wintrust Financial from $175.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Truist Financial increased their price target on shares of Wintrust Financial from $151.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, TD Cowen raised their price objective on shares of Wintrust Financial from $168.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $154.50.

Institutional Trading of Wintrust Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Wintrust Financial by 4.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 200,710 shares of the bank’s stock valued at $26,413,000 after purchasing an additional 8,758 shares in the last quarter. REAP Financial Group LLC increased its holdings in Wintrust Financial by 196.0% in the second quarter. REAP Financial Group LLC now owns 296 shares of the bank’s stock valued at $37,000 after buying an additional 196 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in Wintrust Financial by 12.1% during the second quarter. Westwood Holdings Group Inc. now owns 225,183 shares of the bank’s stock valued at $27,918,000 after buying an additional 24,305 shares in the last quarter. Norges Bank bought a new position in Wintrust Financial during the 2nd quarter worth approximately $87,418,000. Finally, Albert D Mason Inc. lifted its holdings in Wintrust Financial by 241.7% during the 3rd quarter. Albert D Mason Inc. now owns 14,609 shares of the bank’s stock worth $1,935,000 after buying an additional 10,333 shares during the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

Wintrust Financial Trading Up 3.0%

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. The company has a market cap of $9.98 billion, a price-to-earnings ratio of 13.77 and a beta of 0.88. The firm has a 50-day moving average price of $139.02 and a 200 day moving average price of $133.93.

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.