Wintrust Financial (NASDAQ:WTFC) Announces Earnings Results, Beats Expectations By $0.43 EPS

Wintrust Financial (NASDAQ:WTFC) issued its quarterly earnings data on Monday. The bank reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43, Zacks reports. The business had revenue of $697.84 million for the quarter, compared to analyst estimates of $689.10 million. Wintrust Financial had a return on equity of 13.05% and a net margin of 18.85%.During the same quarter in the previous year, the company posted $2.47 EPS.

Wintrust Financial Stock Up 2.3%

Shares of Wintrust Financial stock opened at $129.41 on Wednesday. Wintrust Financial has a one year low of $89.10 and a one year high of $142.04. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50-day moving average is $132.53 and its 200 day moving average is $124.17. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 11.89 and a beta of 0.83.

Wintrust Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. Wintrust Financial’s dividend payout ratio is presently 18.92%.

Insider Buying and Selling

In other news, insider Edward J. Wehmer purchased 3,919 shares of the business’s stock in a transaction on Friday, July 25th. The shares were acquired at an average price of $26.35 per share, for a total transaction of $103,265.65. Following the completion of the acquisition, the insider owned 3,919 shares in the company, valued at approximately $103,265.65. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO David A. Dykstra sold 14,942 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $131.53, for a total value of $1,965,321.26. Following the completion of the transaction, the chief operating officer owned 182,208 shares in the company, valued at approximately $23,965,818.24. The trade was a 7.58% decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WTFC. Adage Capital Partners GP L.L.C. bought a new position in Wintrust Financial in the second quarter worth approximately $15,002,000. Jane Street Group LLC boosted its holdings in Wintrust Financial by 1,970.5% in the second quarter. Jane Street Group LLC now owns 61,080 shares of the bank’s stock worth $7,573,000 after acquiring an additional 58,130 shares in the last quarter. Holocene Advisors LP boosted its holdings in Wintrust Financial by 448.4% in the second quarter. Holocene Advisors LP now owns 39,131 shares of the bank’s stock worth $4,851,000 after acquiring an additional 31,996 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Wintrust Financial by 56.3% in the second quarter. Quantinno Capital Management LP now owns 88,333 shares of the bank’s stock worth $10,952,000 after acquiring an additional 31,806 shares in the last quarter. Finally, Curi Capital LLC boosted its holdings in Wintrust Financial by 33.5% in the second quarter. Curi Capital LLC now owns 97,883 shares of the bank’s stock worth $12,136,000 after acquiring an additional 24,571 shares in the last quarter. Institutional investors own 93.48% of the company’s stock.

Wall Street Analyst Weigh In

WTFC has been the topic of a number of analyst reports. Royal Bank Of Canada upped their price target on Wintrust Financial from $137.00 to $158.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Barclays reissued an “overweight” rating and issued a $175.00 price target on shares of Wintrust Financial in a research note on Wednesday, October 8th. Raymond James Financial reissued a “strong-buy” rating and issued a $157.00 price target (up previously from $155.00) on shares of Wintrust Financial in a research note on Wednesday, July 23rd. Piper Sandler reissued an “overweight” rating and issued a $160.00 price target (up previously from $141.00) on shares of Wintrust Financial in a research note on Wednesday, July 23rd. Finally, TD Cowen assumed coverage on Wintrust Financial in a research note on Thursday, September 25th. They issued a “buy” rating and a $166.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $150.92.

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.