Wintrust Financial Co. (NASDAQ:WTFC) Expected to Earn Q2 2024 Earnings of $2.46 Per Share

Wintrust Financial Co. (NASDAQ:WTFC) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Wintrust Financial in a note issued to investors on Friday, April 19th. DA Davidson analyst J. Rulis anticipates that the bank will post earnings per share of $2.46 for the quarter. The consensus estimate for Wintrust Financial’s current full-year earnings is $10.02 per share. DA Davidson also issued estimates for Wintrust Financial’s FY2024 earnings at $10.15 EPS.

Wintrust Financial (NASDAQ:WTFC) last announced its earnings results on Thursday, April 18th. The bank reported $2.89 EPS for the quarter, beating the consensus estimate of $2.42 by $0.47. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. The business had revenue of $604.77 million for the quarter, compared to analysts’ expectations of $577.80 million. During the same period in the prior year, the business posted $2.80 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis.

Other equities analysts also recently issued research reports about the company. Raymond James boosted their target price on Wintrust Financial from $95.00 to $115.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 19th. Jefferies Financial Group increased their target price on shares of Wintrust Financial from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods raised their price objective on shares of Wintrust Financial from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Citigroup reduced their price target on Wintrust Financial from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Monday. Finally, StockNews.com upgraded shares of Wintrust Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $112.33.

Wintrust Financial Trading Up 0.6 %

NASDAQ WTFC opened at $99.88 on Monday. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 10.33 and a beta of 1.21. The business has a 50 day moving average price of $98.38 and a 200-day moving average price of $91.33. 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 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.78.

Wintrust Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.80%. This is a positive change 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 at Wintrust Financial

In other news, insider Edward J. Wehmer sold 9,500 shares of the firm’s stock in a transaction dated 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 directly owns 177,124 shares of the company’s stock, valued at $17,599,040.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 sale, the insider now directly owns 177,124 shares in the company, valued at approximately $17,599,040.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey D. Hahnfeld sold 588 shares of the business’s stock in a transaction dated 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 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 insiders.

Institutional Investors Weigh In On Wintrust Financial

Large investors have recently modified their holdings of the stock. Ronald Blue Trust Inc. boosted its holdings in shares of Wintrust Financial by 347.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 824 shares of the bank’s stock valued at $60,000 after buying an additional 640 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Wintrust Financial by 49.9% during the third quarter. Handelsbanken Fonder AB now owns 13,223 shares of the bank’s stock valued at $998,000 after buying an additional 4,400 shares during the last quarter. Hunter Perkins Capital Management LLC bought a new stake in Wintrust Financial in the 3rd quarter worth about $203,000. Shaker Investments LLC OH lifted its stake in Wintrust Financial by 99.7% during the 3rd quarter. Shaker Investments LLC OH now owns 34,135 shares of the bank’s stock valued at $2,577,000 after acquiring an additional 17,041 shares during the period. Finally, Reinhart Partners LLC. grew its stake in shares of Wintrust Financial by 4.9% in the third quarter. Reinhart Partners LLC. now owns 652,206 shares of the bank’s stock worth $49,242,000 after acquiring an additional 30,279 shares during the period. Institutional investors own 93.48% of the company’s stock.

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.