DA Davidson Comments on Wintrust Financial Co.’s Q2 2024 Earnings (NASDAQ:WTFC)

Wintrust Financial Co. (NASDAQ:WTFC) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for Wintrust Financial in a research report issued to clients and investors on Friday, April 19th. DA Davidson analyst J. Rulis anticipates that the bank will earn $2.46 per share for the quarter. The consensus estimate for Wintrust Financial’s current full-year earnings is $10.02 per share. DA Davidson also issued estimates for Wintrust Financial’s FY2024 earnings at $10.15 EPS.

A number of other equities research analysts have also recently commented on the company. UBS Group increased their target price on Wintrust Financial from $105.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. StockNews.com raised Wintrust Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Royal Bank of Canada boosted their target price on Wintrust Financial from $109.00 to $116.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Wedbush reaffirmed an “outperform” rating and set a $116.00 price target on shares of Wintrust Financial in a research report on Thursday, April 18th. Finally, Jefferies Financial Group upped their price target on shares of Wintrust Financial from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $112.33.

Wintrust Financial Stock Performance

NASDAQ:WTFC opened at $99.88 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.78. Wintrust Financial has a fifty-two week low of $58.12 and a fifty-two week high of $105.29. The firm’s fifty day simple moving average is $98.38 and its 200-day simple moving average is $91.33. The stock has a market cap of $6.17 billion, a PE ratio of 10.33 and a beta of 1.21.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.47. The firm had revenue of $604.77 million for the quarter, compared to the consensus estimate of $577.80 million. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.80 earnings per share.

Wintrust Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This is a boost from Wintrust Financial’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.80%. Wintrust Financial’s dividend payout ratio is currently 18.61%.

Insider Activity

In other Wintrust Financial news, insider Edward J. Wehmer sold 9,500 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $99.36, for a total transaction of $943,920.00. Following the sale, the insider now directly owns 177,124 shares of the company’s stock, valued at $17,599,040.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jeffrey D. Hahnfeld sold 588 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $97.88, for a total value of $57,553.44. Following the sale, the executive vice president now owns 3,410 shares of the company’s stock, valued at approximately $333,770.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Edward J. Wehmer sold 9,500 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $99.36, for a total transaction of $943,920.00. Following the completion of the transaction, the insider now owns 177,124 shares of the company’s stock, valued at approximately $17,599,040.64. The disclosure for this sale can be found here. Company insiders own 1.47% of the company’s stock.

Hedge Funds Weigh In On Wintrust Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System lifted its holdings in Wintrust Financial by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the bank’s stock worth $1,837,000 after purchasing an additional 400 shares during the period. Hunter Perkins Capital Management LLC bought a new stake in shares of Wintrust Financial during the 1st quarter worth $668,000. Raymond James & Associates lifted its holdings in shares of Wintrust Financial by 46.5% during the first quarter. Raymond James & Associates now owns 202,381 shares of the bank’s stock valued at $21,127,000 after purchasing an additional 64,256 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of Wintrust Financial by 2.7% during the first quarter. State of Michigan Retirement System now owns 15,063 shares of the bank’s stock valued at $1,572,000 after acquiring an additional 400 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Wintrust Financial by 157.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 190,416 shares of the bank’s stock valued at $19,878,000 after purchasing an additional 116,503 shares during the period. 93.48% of the stock is currently owned by institutional investors and hedge funds.

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.