Wintrust Financial (NASDAQ:WTFC) Posts Quarterly Earnings Results, Beats Expectations By $0.47 EPS

Wintrust Financial (NASDAQ:WTFC) issued its quarterly earnings data on Thursday. The bank reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.47, Briefing.com reports. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. The business had revenue of $604.77 million for the quarter, compared to the consensus estimate of $577.80 million. During the same period in the prior year, the business earned $2.80 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis.

Wintrust Financial Price Performance

WTFC stock opened at $97.31 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.99 and a current ratio of 0.98. Wintrust Financial has a 1 year low of $58.12 and a 1 year high of $105.29. The firm has a market cap of $6.01 billion, a P/E ratio of 10.06 and a beta of 1.21. The stock has a 50-day simple moving average of $98.18 and a 200-day simple moving average of $90.73.

Wintrust Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WTFC. Royal Bank of Canada upped their price objective on Wintrust Financial from $109.00 to $116.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. Jefferies Financial Group increased their target price on Wintrust Financial from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Raymond James increased their target price on Wintrust Financial from $95.00 to $115.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 19th. Keefe, Bruyette & Woods upped their price target on Wintrust Financial from $103.00 to $106.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Finally, Truist Financial upped their price target on Wintrust Financial from $111.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wintrust Financial currently has a consensus rating of “Buy” and an average target price of $112.92.

Insider Activity

In other Wintrust Financial news, insider Edward J. Wehmer sold 9,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 177,124 shares in the company, valued at approximately $17,599,040.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Wintrust Financial news, insider Edward J. Wehmer sold 9,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 177,124 shares in the company, valued at approximately $17,599,040.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey D. Hahnfeld sold 588 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $97.88, for a total value of $57,553.44. Following the sale, the executive vice president now owns 3,410 shares of the company’s stock, valued at approximately $333,770.80. The disclosure for this sale can be found here. Insiders own 1.47% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. EJF Capital LLC lifted its holdings in Wintrust Financial by 41.1% during the 1st quarter. EJF Capital LLC now owns 84,182 shares of the bank’s stock worth $7,823,000 after buying an additional 24,509 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Wintrust Financial by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 5,336,205 shares of the bank’s stock worth $495,894,000 after purchasing an additional 36,563 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Wintrust Financial in the 1st quarter worth approximately $11,642,000. Sei Investments Co. lifted its holdings in shares of Wintrust Financial by 0.5% in the 1st quarter. Sei Investments Co. now owns 102,685 shares of the bank’s stock worth $9,536,000 after purchasing an additional 476 shares during the last quarter. Finally, Cibc World Market Inc. bought a new stake in shares of Wintrust Financial in the 1st quarter worth approximately $2,442,000. Institutional investors own 93.48% of the company’s stock.

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.