Wintrust Financial (NASDAQ:WTFC) Issues Quarterly Earnings Results

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

Wintrust Financial Stock Up 2.1 %

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

Wintrust Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were given a dividend of $0.45 per share. This is a boost from Wintrust Financial’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.85%. The ex-dividend date was Wednesday, February 7th. Wintrust Financial’s dividend payout ratio (DPR) is currently 18.61%.

Insider Activity at Wintrust Financial

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

Institutional Trading of Wintrust Financial

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of Wintrust Financial by 2.0% in the first quarter. BlackRock Inc. now owns 6,156,440 shares of the bank’s stock worth $449,112,000 after acquiring an additional 119,790 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Wintrust Financial by 1.9% in the third quarter. Vanguard Group Inc. now owns 5,928,458 shares of the bank’s stock worth $483,466,000 after acquiring an additional 109,995 shares during the last quarter. State Street Corp boosted its stake in shares of Wintrust Financial by 4.2% in the second quarter. State Street Corp now owns 2,795,528 shares of the bank’s stock worth $203,011,000 after acquiring an additional 112,337 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Wintrust Financial by 4.1% in the first quarter. JPMorgan Chase & Co. now owns 1,913,872 shares of the bank’s stock worth $139,616,000 after acquiring an additional 75,040 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Wintrust Financial by 3.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,338,516 shares of the bank’s stock worth $113,131,000 after acquiring an additional 45,932 shares during the last quarter. 93.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WTFC has been the subject of several recent analyst reports. Royal Bank of Canada raised their price target on Wintrust Financial from $109.00 to $116.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Raymond James raised their price objective on Wintrust Financial from $95.00 to $115.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 19th. StockNews.com upgraded Wintrust Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods raised their price objective 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, Barclays reduced their price objective on Wintrust Financial from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday. One research 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. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $112.92.

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.