Wintrust Financial (NASDAQ:WTFC) Announces Earnings Results, Beats Expectations By $0.47 EPS

Wintrust Financial (NASDAQ:WTFC) announced its quarterly earnings data on Thursday. The bank reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.47, Briefing.com reports. The firm had revenue of $604.77 million for the quarter, compared to analyst estimates of $577.80 million. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $2.80 EPS.

Wintrust Financial Stock Up 2.1 %

NASDAQ WTFC opened at $97.31 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78. Wintrust Financial has a 1-year low of $58.12 and a 1-year high of $105.29. The company has a 50 day moving average of $98.18 and a 200-day moving average of $90.73. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 10.06 and a beta of 1.21.

Wintrust Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.85%. This is an increase from Wintrust Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, February 7th. Wintrust Financial’s payout ratio is presently 18.61%.

Insider Activity

In other news, EVP Jeffrey D. Hahnfeld sold 588 shares of Wintrust Financial stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $97.88, for a total value of $57,553.44. Following the completion of the sale, the executive vice president now directly owns 3,410 shares in the company, valued at $333,770.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Edward J. Wehmer sold 9,500 shares of the company’s 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 completion of the transaction, the insider now directly owns 177,124 shares in the company, valued at $17,599,040.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey D. Hahnfeld sold 588 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $97.88, for a total transaction of $57,553.44. Following the completion of the sale, the executive vice president now directly owns 3,410 shares in the company, valued at approximately $333,770.80. The disclosure for this sale can be found here. 1.47% of the stock is owned by company insiders.

Institutional Trading of Wintrust Financial

Several institutional investors have recently modified their holdings of WTFC. HighTower Advisors LLC boosted its position in Wintrust Financial by 3.9% during the first quarter. HighTower Advisors LLC now owns 11,802 shares of the bank’s stock valued at $1,095,000 after acquiring an additional 438 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Wintrust Financial by 12.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,475 shares of the bank’s stock worth $324,000 after purchasing an additional 394 shares in the last quarter. Natixis Advisors L.P. boosted its position in shares of Wintrust Financial by 1.5% during the 1st quarter. Natixis Advisors L.P. now owns 16,809 shares of the bank’s stock worth $1,562,000 after purchasing an additional 255 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Wintrust Financial by 33.4% during the 1st quarter. MetLife Investment Management LLC now owns 36,861 shares of the bank’s stock worth $3,425,000 after purchasing an additional 9,235 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Wintrust Financial by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,892 shares of the bank’s stock worth $1,941,000 after purchasing an additional 1,992 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 recent research reports. Barclays decreased their price objective on Wintrust Financial from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday. Keefe, Bruyette & Woods raised their price objective on Wintrust Financial from $103.00 to $106.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Royal Bank of Canada raised their price objective on Wintrust Financial from $109.00 to $116.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Truist Financial lifted their price target on Wintrust Financial from $111.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Jefferies Financial Group lifted their target price on Wintrust Financial from $114.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $112.92.

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.