Wedbush Has Pessimistic Outlook of WTFC FY2024 Earnings

Wintrust Financial Co. (NASDAQ:WTFC) – Equities researchers at Wedbush reduced their FY2024 EPS estimates for shares of Wintrust Financial in a research report issued on Tuesday, October 22nd. Wedbush analyst D. Chiaverini now expects that the bank will post earnings of $10.20 per share for the year, down from their previous forecast of $10.24. Wedbush currently has a “Outperform” rating and a $130.00 target price on the stock. The consensus estimate for Wintrust Financial’s current full-year earnings is $10.11 per share. Wedbush also issued estimates for Wintrust Financial’s Q4 2024 earnings at $2.53 EPS, Q1 2025 earnings at $2.52 EPS, Q2 2025 earnings at $2.57 EPS, Q3 2025 earnings at $2.62 EPS, FY2025 earnings at $10.15 EPS and FY2026 earnings at $10.55 EPS.

WTFC has been the subject of several other research reports. Piper Sandler upped their price target on shares of Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup increased their target price on Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday. Stephens restated an “overweight” rating and issued a $115.00 price target on shares of Wintrust Financial in a report on Thursday, July 18th. Royal Bank of Canada upped their price objective on Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Finally, DA Davidson lifted their target price on Wintrust Financial from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wintrust Financial currently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Wintrust Financial Price Performance

Shares of WTFC opened at $114.17 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.99 and a current ratio of 1.02. The firm has a market capitalization of $7.59 billion, a PE ratio of 11.95 and a beta of 1.16. The stock has a 50 day simple moving average of $107.44 and a 200 day simple moving average of $102.24. Wintrust Financial has a 52-week low of $71.86 and a 52-week high of $117.77.

Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.03). The business had revenue of $615.73 million during the quarter, compared to analyst estimates of $623.45 million. Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.53 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WTFC. Nisa Investment Advisors LLC lifted its stake in Wintrust Financial by 1.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 28,490 shares of the bank’s stock valued at $3,092,000 after purchasing an additional 315 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Wintrust Financial by 16.7% in the third quarter. State of Alaska Department of Revenue now owns 7,718 shares of the bank’s stock valued at $837,000 after buying an additional 1,105 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Wintrust Financial by 5.1% during the 3rd quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the bank’s stock worth $1,997,000 after acquiring an additional 900 shares during the period. West Michigan Advisors LLC acquired a new position in shares of Wintrust Financial during the 3rd quarter worth approximately $247,000. Finally, International Assets Investment Management LLC bought a new stake in Wintrust Financial in the 3rd quarter valued at $35,000. 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.