Wintrust Financial Corp. (WTFC) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Wintrust Financial Corp. (NASDAQ:WTFC) announced its quarterly earnings results on Monday. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.02. The business earned $271.24 million during the quarter, compared to analysts’ expectations of $264.11 million. Wintrust Financial Corp. had a return on equity of 8.27% and a net margin of 16.55%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 EPS.
Shares of Wintrust Financial Corp. (NASDAQ:WTFC) traded down 0.07% on Monday, hitting $54.13. The stock had a trading volume of 359,824 shares. Wintrust Financial Corp. has a 52 week low of $37.96 and a 52 week high of $56.68. The stock’s 50-day moving average price is $55.21 and its 200 day moving average price is $52.01. The company has a market cap of $2.80 billion, a PE ratio of 17.28 and a beta of 0.86.
Several brokerages recently commented on WTFC. Zacks Investment Research raised Wintrust Financial Corp. from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Saturday, October 8th. Hovde Group assumed coverage on Wintrust Financial Corp. in a report on Wednesday, August 24th. They issued a “market perform” rating and a $59.00 target price for the company. Finally, Piper Jaffray Cos. restated a “neutral” rating and issued a $53.00 target price (up from $52.00) on shares of Wintrust Financial Corp. in a report on Sunday, July 24th. Nine investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $53.10.
In related news, insider Richard B. Murphy sold 1,293 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $52.71, for a total transaction of $68,154.03. Following the completion of the transaction, the insider now directly owns 28,445 shares in the company, valued at $1,499,335.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors increased its position in Wintrust Financial Corp. by 8.3% in the second quarter. BlackRock Fund Advisors now owns 3,365,629 shares of the company’s stock worth $171,647,000 after buying an additional 258,723 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Wintrust Financial Corp. by 6.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,712,718 shares of the company’s stock worth $87,349,000 after buying an additional 103,103 shares during the last quarter. Teachers Advisors Inc. increased its position in Wintrust Financial Corp. by 116.3% in the second quarter. Teachers Advisors Inc. now owns 554,780 shares of the company’s stock worth $28,294,000 after buying an additional 298,244 shares during the last quarter. FMR LLC increased its position in Wintrust Financial Corp. by 28.9% in the second quarter. FMR LLC now owns 368,375 shares of the company’s stock worth $18,787,000 after buying an additional 82,499 shares during the last quarter. Finally, BlackRock Investment Management LLC increased its position in Wintrust Financial Corp. by 11.2% in the second quarter. BlackRock Investment Management LLC now owns 222,201 shares of the company’s stock worth $11,332,000 after buying an additional 22,398 shares during the last quarter. Institutional investors and hedge funds own 91.93% of the company’s stock.
About Wintrust Financial Corp.
Wintrust Financial Corporation is a financial holding company. The Company conducts its businesses through three segments: community banking, specialty finance and wealth management. The Company provides community-oriented, personal and commercial banking services to customers located in the Chicago metropolitan area and in southeastern Wisconsin through its banking subsidiaries (the banks).
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