Wintrust Financial (NASDAQ:WTFC) Posts Earnings Results, Beats Estimates By $0.22 EPS

Wintrust Financial (NASDAQ:WTFC) announced its quarterly earnings data on Tuesday. The bank reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22, FiscalAI reports. Wintrust Financial had a net margin of 18.85% and a return on equity of 12.82%. The business had revenue of $586.67 million for the quarter, compared to analyst estimates of $700.85 million.

Wintrust Financial Trading Down 0.8%

Shares of WTFC stock traded down $1.21 on Tuesday, hitting $144.72. 482,442 shares of the company’s stock traded hands, compared to its average volume of 382,647. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of 13.30 and a beta of 0.88. The company’s fifty day simple moving average is $138.75 and its 200 day simple moving average is $133.84. Wintrust Financial has a one year low of $89.10 and a one year high of $149.79. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.00.

Wintrust Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. Wintrust Financial’s dividend payout ratio (DPR) is currently 18.38%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. purchased a new stake in Wintrust Financial during the 1st quarter valued at about $27,000. State of Wyoming bought a new stake in Wintrust Financial in the second quarter valued at approximately $41,000. EverSource Wealth Advisors LLC boosted its stake in shares of Wintrust Financial by 400.0% during the second quarter. EverSource Wealth Advisors LLC now owns 400 shares of the bank’s stock valued at $50,000 after purchasing an additional 320 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Wintrust Financial during the third quarter valued at approximately $62,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Wintrust Financial in the third quarter worth approximately $71,000. 93.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WTFC. Jefferies Financial Group lowered their price objective on Wintrust Financial from $165.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, October 21st. DA Davidson reissued a “buy” rating and issued a $158.00 price target on shares of Wintrust Financial in a report on Tuesday, October 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $161.00 price target (up previously from $160.00) on shares of Wintrust Financial in a report on Wednesday, October 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $160.00 price objective on shares of Wintrust Financial in a research note on Monday, January 12th. Finally, Citigroup upped their target price on Wintrust Financial from $159.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, December 30th. One 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $154.50.

About Wintrust Financial

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.