$296.27 Million in Sales Expected for Wintrust Financial Corporation (NASDAQ:WTFC) This Quarter
Wall Street analysts forecast that Wintrust Financial Corporation (NASDAQ:WTFC) will report $296.27 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Wintrust Financial Corporation’s earnings, with the highest sales estimate coming in at $302.00 million and the lowest estimate coming in at $291.10 million. Wintrust Financial Corporation posted sales of $271.24 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.2%. The business is scheduled to announce its next quarterly earnings results on Monday, October 16th.
On average, analysts expect that Wintrust Financial Corporation will report full year sales of $296.27 million for the current fiscal year, with estimates ranging from $1.14 billion to $1.16 billion. For the next financial year, analysts expect that the business will post sales of $1.24 billion per share, with estimates ranging from $1.22 billion to $1.26 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Wintrust Financial Corporation.
Wintrust Financial Corporation (NASDAQ:WTFC) last announced its quarterly earnings results on Tuesday, July 18th. The bank reported $1.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.12. The firm had revenue of $294.38 million for the quarter, compared to analyst estimates of $279.69 million. Wintrust Financial Corporation had a net margin of 19.24% and a return on equity of 9.15%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS.
Several analysts recently weighed in on WTFC shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Wintrust Financial Corporation in a research note on Thursday, April 20th. Hovde Group raised their price objective on Wintrust Financial Corporation from $74.00 to $76.50 and gave the company a “market perform” rating in a research note on Tuesday, April 25th. Zacks Investment Research raised Wintrust Financial Corporation from a “hold” rating to a “strong-buy” rating and set a $83.00 price objective on the stock in a research note on Friday, May 5th. ValuEngine raised Wintrust Financial Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Wintrust Financial Corporation in a research note on Sunday, June 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Wintrust Financial Corporation presently has a consensus rating of “Hold” and an average target price of $78.71.
In related news, insider Edward J. Wehmer sold 29,779 shares of Wintrust Financial Corporation stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $76.89, for a total value of $2,289,707.31. Following the transaction, the insider now directly owns 137,352 shares of the company’s stock, valued at $10,560,995.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David A. Dykstra sold 26,861 shares of Wintrust Financial Corporation stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $76.82, for a total value of $2,063,462.02. Following the completion of the transaction, the executive vice president now directly owns 185,651 shares in the company, valued at $14,261,709.82. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of WTFC. Shell Asset Management Co. bought a new position in Wintrust Financial Corporation during the first quarter worth approximately $811,000. Granite Investment Partners LLC raised its position in Wintrust Financial Corporation by 1.4% in the first quarter. Granite Investment Partners LLC now owns 16,933 shares of the bank’s stock worth $1,170,000 after buying an additional 242 shares in the last quarter. First Mercantile Trust Co. raised its position in Wintrust Financial Corporation by 6.4% in the first quarter. First Mercantile Trust Co. now owns 4,500 shares of the bank’s stock worth $311,000 after buying an additional 270 shares in the last quarter. Sit Investment Associates Inc. raised its position in Wintrust Financial Corporation by 603.1% in the first quarter. Sit Investment Associates Inc. now owns 11,250 shares of the bank’s stock worth $778,000 after buying an additional 9,650 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in Wintrust Financial Corporation by 51.8% in the first quarter. Nationwide Fund Advisors now owns 121,481 shares of the bank’s stock worth $8,397,000 after buying an additional 41,452 shares in the last quarter. 89.70% of the stock is currently owned by institutional investors.
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Shares of Wintrust Financial Corporation (NASDAQ:WTFC) opened at 73.00 on Friday. The stock has a 50 day moving average of $76.05 and a 200 day moving average of $72.76. Wintrust Financial Corporation has a 52 week low of $51.66 and a 52 week high of $80.52. The firm has a market cap of $4.07 billion, a P/E ratio of 18.41 and a beta of 0.81.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Tuesday, August 8th. Wintrust Financial Corporation’s payout ratio is 14.11%.
Wintrust Financial Corporation Company Profile
Wintrust Financial Corporation is a financial holding company. The Company conducts its businesses through three segments: community banking, specialty finance and wealth management. The Company offers community banking services to individuals, small to mid-sized businesses, local governmental units and institutional clients.
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