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

Wintrust Financial Co. (NASDAQ:WTFC) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Wintrust Financial in a report issued on Friday, April 19th. DA Davidson analyst J. Rulis expects that the bank will earn $2.46 per share 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 released its quarterly earnings results on Thursday, April 18th. The bank reported $2.89 earnings per share 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 firm 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 firm earned $2.80 EPS. The company’s revenue was up 6.9% compared to the same quarter last year.

A number of other brokerages have also recently commented on WTFC. Royal Bank of Canada raised their target price on Wintrust Financial from $109.00 to $116.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Barclays decreased their target price on Wintrust Financial from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday. Raymond James increased their price target 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. StockNews.com upgraded Wintrust Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup increased their price target on Wintrust Financial from $114.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wintrust Financial has a consensus rating of “Buy” and a consensus target price of $112.92.

Wintrust Financial Price Performance

Shares of Wintrust Financial stock opened at $97.31 on Monday. Wintrust Financial has a one year low of $58.12 and a one year high of $105.29. The stock’s fifty day moving average is $98.18 and its 200 day moving average is $90.98. The stock has a market cap of $6.01 billion, a P/E ratio of 10.06 and a beta of 1.21. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.99 and a current ratio of 0.98.

Institutional Trading of Wintrust Financial

Several institutional investors have recently added to or reduced their stakes in WTFC. Johnson Financial Group Inc. bought a new stake in Wintrust Financial in the fourth quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in Wintrust Financial in the first quarter worth about $27,000. Belpointe Asset Management LLC lifted its stake in Wintrust Financial by 106.2% in the first quarter. Belpointe Asset Management LLC now owns 365 shares of the bank’s stock worth $27,000 after purchasing an additional 188 shares during the last quarter. Quent Capital LLC lifted its stake in Wintrust Financial by 120.8% in the fourth quarter. Quent Capital LLC now owns 351 shares of the bank’s stock worth $33,000 after purchasing an additional 192 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in Wintrust Financial in the fourth quarter worth about $41,000. Institutional investors own 93.48% of the company’s stock.

Insider Activity

In other news, EVP Jeffrey D. Hahnfeld sold 588 shares of the firm’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 transaction, the executive vice president now owns 3,410 shares in the company, valued at $333,770.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Jeffrey D. Hahnfeld sold 588 shares of Wintrust Financial stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $97.88, for a total value of $57,553.44. Following the completion of the transaction, the executive vice president now owns 3,410 shares in the company, valued at $333,770.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward J. Wehmer sold 9,500 shares of Wintrust Financial stock in a transaction dated Tuesday, March 5th. The stock was 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 approximately $17,599,040.64. The disclosure for this sale can be found here. Company insiders own 1.47% of the company’s stock.

Wintrust Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were given 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 of this dividend was Wednesday, February 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.85%. Wintrust Financial’s dividend payout ratio (DPR) is presently 18.61%.

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.