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

Wintrust Financial Co. (NASDAQ:WTFC) – Equities researchers at Wedbush lifted their Q2 2024 earnings estimates for Wintrust Financial in a research report issued on Thursday, April 18th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings of $2.47 per share for the quarter, up from their prior estimate of $2.44. Wedbush has a “Outperform” rating and a $116.00 price objective 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 for the quarter, beating analysts’ consensus estimates of $2.42 by $0.47. The company had revenue of $604.77 million during 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 firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.80 earnings per share.

WTFC has been the subject of a number of other research reports. StockNews.com raised shares of Wintrust Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Citigroup boosted their target price on shares of Wintrust Financial from $114.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Raymond James boosted their target price on shares of 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 upped their price objective on shares of Wintrust Financial from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, UBS Group upped their price objective on shares of Wintrust Financial from $105.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $113.33.

Wintrust Financial Stock Up 0.4 %

WTFC stock opened at $95.30 on Friday. The stock has a market capitalization of $5.88 billion, a P/E ratio of 9.86 and a beta of 1.21. The firm has a 50-day simple moving average of $98.11 and a 200-day simple moving average of $90.57. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.73. Wintrust Financial has a 52 week low of $58.12 and a 52 week high of $105.29.

Institutional Investors Weigh In On Wintrust Financial

A number of hedge funds have recently added to or reduced their stakes in the business. UBS Group AG increased its position in shares of Wintrust Financial by 61.3% in the 3rd quarter. UBS Group AG now owns 32,210 shares of the bank’s stock valued at $2,432,000 after purchasing an additional 12,243 shares during the last quarter. abrdn plc increased its position in shares of Wintrust Financial by 24.6% in the 3rd quarter. abrdn plc now owns 344,631 shares of the bank’s stock valued at $26,020,000 after purchasing an additional 68,042 shares during the last quarter. Boston Partners increased its position in shares of Wintrust Financial by 13.4% in the 3rd quarter. Boston Partners now owns 644,050 shares of the bank’s stock valued at $48,549,000 after purchasing an additional 75,994 shares during the last quarter. Oliver Luxxe Assets LLC purchased a new stake in shares of Wintrust Financial in the 3rd quarter valued at approximately $476,000. Finally, Rhumbline Advisers increased its position in shares of Wintrust Financial by 10.5% in the 3rd quarter. Rhumbline Advisers now owns 221,891 shares of the bank’s stock valued at $16,753,000 after purchasing an additional 21,098 shares during the last quarter. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Wintrust Financial

In other news, insider Edward J. Wehmer sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $99.36, for a total value of $943,920.00. Following the transaction, the insider now directly owns 177,124 shares in the company, valued at approximately $17,599,040.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Wintrust Financial news, insider Edward J. Wehmer sold 9,500 shares of the 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 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 SEC, which is available through this link. Also, EVP Jeffrey D. Hahnfeld sold 588 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $97.88, for a total transaction of $57,553.44. Following the sale, the executive vice president now owns 3,410 shares in the company, valued at $333,770.80. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by company insiders.

Wintrust Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.89%. 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%.

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.