Wintrust Financial Co. to Post Q2 2024 Earnings of $2.47 Per Share, Wedbush Forecasts (NASDAQ:WTFC)

Wintrust Financial Co. (NASDAQ:WTFC) – Equities researchers at Wedbush lifted their Q2 2024 earnings per share (EPS) estimates for shares of Wintrust Financial in a research note issued on Thursday, April 18th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings per share of $2.47 for the quarter, up from their previous estimate of $2.44. Wedbush has a “Outperform” rating and a $116.00 price target on the stock. The consensus estimate for Wintrust Financial’s current full-year earnings is $9.90 per share. Wedbush also issued estimates for Wintrust Financial’s Q3 2024 earnings at $2.46 EPS, Q4 2024 earnings at $2.34 EPS, FY2024 earnings at $10.16 EPS, Q2 2025 earnings at $2.52 EPS, Q3 2025 earnings at $2.58 EPS, Q4 2025 earnings at $2.55 EPS and FY2025 earnings at $10.05 EPS.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings data on Thursday, April 18th. The bank reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.47. The firm 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 13.29%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.80 earnings per share.

Several other analysts have also recently issued reports on the stock. UBS Group upped their target price on shares of Wintrust Financial from $105.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Jefferies Financial Group upped their price objective on Wintrust Financial from $114.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Truist Financial lifted their target price on Wintrust Financial from $111.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Keefe, Bruyette & Woods increased their price target on Wintrust Financial from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Barclays dropped their price objective on shares of Wintrust Financial from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $112.92.

Wintrust Financial Price Performance

Wintrust Financial stock opened at $97.31 on Friday. Wintrust Financial has a 52-week low of $58.12 and a 52-week high of $105.29. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 10.06 and a beta of 1.21. The firm’s fifty day moving average is $98.18 and its 200 day moving average is $90.73. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.73.

Hedge Funds Weigh In On Wintrust Financial

Several institutional investors have recently bought and sold shares of WTFC. HighTower Advisors LLC increased its holdings in shares of Wintrust Financial by 3.9% in the 1st quarter. HighTower Advisors LLC now owns 11,802 shares of the bank’s stock valued at $1,095,000 after acquiring an additional 438 shares during the period. PNC Financial Services Group Inc. raised its holdings in Wintrust Financial by 12.8% in the first quarter. PNC Financial Services Group Inc. now owns 3,475 shares of the bank’s stock worth $324,000 after purchasing an additional 394 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of Wintrust Financial by 1.5% during the first quarter. Natixis Advisors L.P. now owns 16,809 shares of the bank’s stock valued at $1,562,000 after buying an additional 255 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Wintrust Financial by 33.4% in the 1st quarter. MetLife Investment Management LLC now owns 36,861 shares of the bank’s stock valued at $3,425,000 after buying an additional 9,235 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Wintrust Financial by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,892 shares of the bank’s stock worth $1,941,000 after buying an additional 1,992 shares during the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wintrust Financial

In other news, insider Edward J. Wehmer sold 9,500 shares of Wintrust Financial stock in a transaction that occurred 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 owns 177,124 shares of the company’s stock, valued at $17,599,040.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Edward J. Wehmer sold 9,500 shares of the firm’s 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 $17,599,040.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey D. Hahnfeld sold 588 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $97.88, for a total transaction of $57,553.44. Following the completion of the sale, the executive vice president now directly owns 3,410 shares of the company’s stock, valued at $333,770.80. The disclosure for this sale can be found here. 1.47% of the stock is owned by corporate insiders.

Wintrust Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were issued a dividend of $0.45 per share. This is a positive change from Wintrust Financial’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, February 7th. This represents a $1.80 dividend on an annualized basis and a yield of 1.85%. Wintrust Financial’s dividend payout ratio (DPR) is presently 18.61%.

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.