Wintrust Financial (NASDAQ:WTFC) Announces Earnings Results

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

Wintrust Financial Trading Up 2.1 %

Shares of WTFC stock opened at $97.31 on Friday. Wintrust Financial has a 12-month low of $58.12 and a 12-month high of $105.29. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78. The firm’s 50 day moving average is $98.18 and its 200 day moving average is $90.73. The stock has a market capitalization of $6.01 billion, a P/E ratio of 10.06 and a beta of 1.21.

Wintrust Financial Increases Dividend

The business also recently announced 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 was Wednesday, February 7th. This represents a $1.80 annualized dividend and a yield of 1.85%. This is a boost from Wintrust Financial’s previous quarterly dividend of $0.40. Wintrust Financial’s dividend payout ratio (DPR) is currently 18.61%.

Analyst Upgrades and Downgrades

WTFC has been the topic of a number of recent research reports. Truist Financial upped their price objective on shares of Wintrust Financial from $111.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Barclays cut their price objective on shares of Wintrust Financial from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday. Raymond James increased their price target on shares of Wintrust Financial from $95.00 to $115.00 and gave the company a “strong-buy” rating in a report on Friday, January 19th. Keefe, Bruyette & Woods increased their price target on shares of Wintrust Financial from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Citigroup increased their price target on shares of Wintrust Financial from $114.00 to $115.00 and gave the company a “buy” rating in a report on Monday, March 18th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $112.92.

Insider Buying and Selling

In related news, EVP Jeffrey D. Hahnfeld sold 588 shares of the firm’s 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 sale, the executive vice president now owns 3,410 shares in the company, valued at $333,770.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Edward J. Wehmer sold 9,500 shares of Wintrust Financial 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 transaction, the insider now owns 177,124 shares in the company, valued at approximately $17,599,040.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey D. Hahnfeld sold 588 shares of Wintrust Financial 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 transaction, the executive vice president now 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Belpointe Asset Management LLC boosted its stake in shares of Wintrust Financial by 106.2% during the 1st quarter. Belpointe Asset Management LLC now owns 365 shares of the bank’s stock worth $27,000 after acquiring an additional 188 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new stake in shares of Wintrust Financial during the 4th quarter valued at $44,000. Quarry LP raised its position in shares of Wintrust Financial by 36.1% during the 1st quarter. Quarry LP now owns 663 shares of the bank’s stock valued at $48,000 after purchasing an additional 176 shares during the period. Dark Forest Capital Management LP bought a new stake in shares of Wintrust Financial during the 1st quarter valued at $59,000. Finally, State of Wyoming bought a new stake in shares of Wintrust Financial during the 4th quarter valued at $101,000. Hedge funds and other institutional investors own 93.48% of the company’s stock.

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.