Wintrust Financial (NASDAQ:WTFC) Releases Earnings Results, Beats Estimates By $0.47 EPS

Wintrust Financial (NASDAQ:WTFC) issued its earnings results on Wednesday. The bank reported $2.89 EPS 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 analyst estimates of $577.80 million. Wintrust Financial had a net margin of 18.71% and a return on equity of 13.23%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $2.80 earnings per share.

Wintrust Financial Trading Up 0.5 %

NASDAQ:WTFC opened at $94.96 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $98.06 and a 200-day simple moving average of $90.54. Wintrust Financial has a 12 month low of $58.12 and a 12 month high of $105.29. The company has a market capitalization of $5.86 billion, a P/E ratio of 9.91 and a beta of 1.21.

Wintrust Financial Increases Dividend

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

Insider Buying and Selling

In related news, EVP Jeffrey D. Hahnfeld sold 588 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $97.88, for a total transaction of $57,553.44. Following the completion of the transaction, the executive vice president now owns 3,410 shares of the company’s stock, valued at $333,770.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Wintrust Financial 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 value of $943,920.00. Following the completion of the transaction, the insider now owns 177,124 shares of the company’s stock, valued at $17,599,040.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey D. Hahnfeld sold 588 shares of Wintrust Financial stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $97.88, for a total transaction of $57,553.44. Following the completion of the transaction, the executive vice president now directly owns 3,410 shares of the company’s stock, 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FIL Ltd increased its stake in shares of Wintrust Financial by 48.9% during the fourth quarter. FIL Ltd now owns 305,188 shares of the bank’s stock worth $28,306,000 after purchasing an additional 100,227 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Wintrust Financial by 13.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,466 shares of the bank’s stock worth $2,455,000 after purchasing an additional 3,119 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Wintrust Financial during the fourth quarter worth about $569,000. Public Employees Retirement System of Ohio increased its stake in shares of Wintrust Financial by 2.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 26,211 shares of the bank’s stock worth $2,431,000 after purchasing an additional 708 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC increased its stake in shares of Wintrust Financial by 82.2% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 111,510 shares of the bank’s stock worth $10,343,000 after purchasing an additional 50,293 shares in the last quarter. Hedge funds and other institutional investors own 93.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group lifted their price objective on shares of Wintrust Financial from $105.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods lifted their price objective 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. Barclays assumed coverage on shares of Wintrust Financial in a report on Friday, March 8th. They set an “overweight” rating and a $135.00 price objective on the stock. Raymond James lifted their price objective 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. Finally, Truist Financial lifted their price objective on shares of Wintrust Financial from $111.00 to $117.00 and gave the company a “buy” rating in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.33.

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.