Research Analysts Issue Forecasts for Wintrust Financial Co.’s Q2 2024 Earnings (NASDAQ:WTFC)

Wintrust Financial Co. (NASDAQ:WTFC) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Wintrust Financial in a research note 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.

WTFC has been the topic of several other research reports. Citigroup cut their price target on Wintrust Financial from $115.00 to $113.00 and set a “buy” rating on the stock in a research note on Monday. Barclays reduced their price target on Wintrust Financial from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Friday. UBS Group lifted their price target on Wintrust Financial from $105.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Wintrust Financial from $103.00 to $106.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, Raymond James lifted their target price on shares of Wintrust Financial from $95.00 to $115.00 and gave the stock a “strong-buy” rating in a report on Friday, January 19th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wintrust Financial currently has an average rating of “Buy” and a consensus price target of $112.33.

Wintrust Financial Price Performance

Shares of NASDAQ WTFC opened at $99.30 on Monday. The company has a 50 day simple moving average of $98.25 and a two-hundred day simple moving average of $91.16. Wintrust Financial has a fifty-two week low of $58.12 and a fifty-two week high of $105.29. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 10.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.97 and a current ratio of 0.98.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.47. Wintrust Financial had a net margin of 17.86% and a return on equity of 13.09%. The company had revenue of $604.77 million during the quarter, compared to analyst estimates of $577.80 million. During the same period last year, the business earned $2.80 EPS. Wintrust Financial’s quarterly revenue was up 6.9% compared to the same quarter last year.

Wintrust Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.80 annualized dividend and a yield of 1.81%. This is a boost from Wintrust Financial’s previous quarterly dividend of $0.40. Wintrust Financial’s dividend payout ratio is currently 18.61%.

Insider Activity

In related news, insider Edward J. Wehmer sold 9,500 shares of the firm’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 sale, the insider now owns 177,124 shares in the company, valued at $17,599,040.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Wintrust Financial news, EVP Jeffrey D. Hahnfeld sold 588 shares of the business’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 in the company, valued at approximately $333,770.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Edward J. Wehmer sold 9,500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $17,599,040.64. The disclosure for this sale can be found here. Insiders own 1.47% of the company’s stock.

Institutional Trading of Wintrust Financial

Several large investors have recently added to or reduced their stakes in WTFC. Ronald Blue Trust Inc. raised its holdings in Wintrust Financial by 347.8% during the third quarter. Ronald Blue Trust Inc. now owns 824 shares of the bank’s stock valued at $60,000 after acquiring an additional 640 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Wintrust Financial by 49.9% during the third quarter. Handelsbanken Fonder AB now owns 13,223 shares of the bank’s stock worth $998,000 after acquiring an additional 4,400 shares during the last quarter. Hunter Perkins Capital Management LLC purchased a new position in shares of Wintrust Financial during the third quarter valued at about $203,000. Shaker Investments LLC OH increased its holdings in shares of Wintrust Financial by 99.7% in the third quarter. Shaker Investments LLC OH now owns 34,135 shares of the bank’s stock worth $2,577,000 after purchasing an additional 17,041 shares during the last quarter. Finally, Reinhart Partners LLC. lifted its position in Wintrust Financial by 4.9% during the third quarter. Reinhart Partners LLC. now owns 652,206 shares of the bank’s stock valued at $49,242,000 after purchasing an additional 30,279 shares during the last quarter. 93.48% of the stock is currently owned by institutional investors.

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.