Wintrust Financial Co. (NASDAQ:WTFC) Expected to Earn FY2023 Earnings of $10.15 Per Share

Wintrust Financial Co. (NASDAQ:WTFC) – Wedbush upped their FY2023 earnings per share (EPS) estimates for Wintrust Financial in a note issued to investors on Friday, November 3rd. Wedbush analyst D. Chiaverini now expects that the bank will post earnings of $10.15 per share for the year, up from their prior forecast of $10.00. Wedbush has a “Outperform” rating and a $90.00 price objective on the stock. The consensus estimate for Wintrust Financial’s current full-year earnings is $10.11 per share. Wedbush also issued estimates for Wintrust Financial’s Q2 2024 earnings at $2.44 EPS, Q3 2024 earnings at $2.54 EPS, Q4 2024 earnings at $2.51 EPS, FY2024 earnings at $9.80 EPS and FY2025 earnings at $9.90 EPS.

Several other equities analysts also recently commented on the stock. StockNews.com began coverage on shares of Wintrust Financial in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Raymond James lowered their target price on shares of Wintrust Financial from $100.00 to $95.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 19th. Piper Sandler boosted their target price on shares of Wintrust Financial from $92.00 to $101.00 in a research note on Friday, July 21st. Stephens reiterated an “overweight” rating and set a $90.00 target price on shares of Wintrust Financial in a research note on Thursday, July 20th. Finally, Jefferies Financial Group lowered their target price on shares of Wintrust Financial from $98.00 to $85.00 in a research note on Tuesday, October 10th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $92.73.

Wintrust Financial Stock Performance

NASDAQ:WTFC opened at $81.48 on Monday. The company has a fifty day simple moving average of $75.85 and a two-hundred day simple moving average of $73.86. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 8.20 and a beta of 1.20. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.80. Wintrust Financial has a 52 week low of $57.48 and a 52 week high of $97.81.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings results on Wednesday, October 18th. The bank reported $2.53 EPS for the quarter, topping the consensus estimate of $2.41 by $0.12. The business had revenue of $574.84 million during the quarter, compared to the consensus estimate of $570.01 million. Wintrust Financial had a net margin of 20.73% and a return on equity of 14.14%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.21 earnings per share.

Wintrust Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, November 9th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 1.96%. Wintrust Financial’s dividend payout ratio (DPR) is presently 16.10%.

Institutional Investors Weigh In On Wintrust Financial

A number of institutional investors and hedge funds have recently bought and sold shares of WTFC. Signaturefd LLC raised its holdings in shares of Wintrust Financial by 5.3% in the third quarter. Signaturefd LLC now owns 3,028 shares of the bank’s stock valued at $229,000 after buying an additional 153 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Wintrust Financial by 2.3% in the third quarter. California Public Employees Retirement System now owns 130,043 shares of the bank’s stock valued at $9,818,000 after buying an additional 2,901 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Wintrust Financial by 58.2% in the third quarter. Principal Financial Group Inc. now owns 363,558 shares of the bank’s stock valued at $27,449,000 after buying an additional 133,809 shares during the last quarter. Duality Advisers LP purchased a new stake in shares of Wintrust Financial in the third quarter valued at about $342,000. Finally, M&T Bank Corp raised its holdings in shares of Wintrust Financial by 5.9% in the third quarter. M&T Bank Corp now owns 6,679 shares of the bank’s stock valued at $504,000 after buying an additional 372 shares during the last quarter. 92.00% of the stock is owned by hedge funds and other institutional investors.

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.