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

Wintrust Financial (NASDAQ:WTFC) released its quarterly earnings results on Wednesday. The bank reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.47, Briefing.com reports. Wintrust Financial had a net margin of 18.71% and a return on equity of 13.23%. The firm had revenue of $604.77 million for the quarter, compared to analysts’ expectations of $577.80 million. During the same quarter last year, the company earned $2.80 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year.

Wintrust Financial Stock Up 0.5 %

NASDAQ WTFC opened at $94.96 on Thursday. Wintrust Financial has a 52 week low of $58.12 and a 52 week high of $105.29. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.73. The business’s fifty day simple moving average is $98.06 and its 200-day simple moving average is $90.54. The firm has a market cap of $5.86 billion, a PE ratio of 9.91 and a beta of 1.21.

Wintrust Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Wednesday, February 7th. This is a positive change from Wintrust Financial’s previous quarterly dividend of $0.40. Wintrust Financial’s payout ratio is currently 18.79%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WTFC. Citigroup lifted their price target on shares of Wintrust Financial from $114.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, March 18th. UBS Group lifted their price target on shares of Wintrust Financial from $105.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Wintrust Financial from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Royal Bank of Canada lifted their price target on shares of Wintrust Financial from $109.00 to $116.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Finally, StockNews.com cut shares of Wintrust Financial from a “hold” rating to a “sell” rating in a research note on Sunday, March 31st. One analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.83.

Insider Transactions at Wintrust Financial

In other news, insider Edward J. Wehmer sold 9,500 shares of Wintrust Financial stock in a transaction on Tuesday, March 5th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Edward J. Wehmer sold 9,500 shares of Wintrust Financial stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $99.36, for a total value 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 disclosure for this sale can be found here. Insiders own 1.47% of the company’s stock.

Institutional Trading of Wintrust Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Wintrust Financial by 4.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,015 shares of the bank’s stock valued at $255,000 after buying an additional 123 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Wintrust Financial by 6.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,048 shares of the bank’s stock valued at $172,000 after buying an additional 126 shares during the period. Advisor Group Holdings Inc. raised its holdings in Wintrust Financial by 3.4% in the 4th quarter. Advisor Group Holdings Inc. now owns 4,135 shares of the bank’s stock valued at $351,000 after buying an additional 135 shares during the period. Quarry LP raised its holdings in Wintrust Financial by 36.1% in the 1st quarter. Quarry LP now owns 663 shares of the bank’s stock valued at $48,000 after buying an additional 176 shares during the period. Finally, Belpointe Asset Management LLC raised its holdings in Wintrust Financial by 106.2% in the 1st quarter. Belpointe Asset Management LLC now owns 365 shares of the bank’s stock valued at $27,000 after buying an additional 188 shares during the period. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

About Wintrust Financial

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.