Wintrust Financial (NASDAQ:WTFC) Releases Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Wintrust Financial (NASDAQ:WTFC) announced its quarterly earnings results on Tuesday. The bank reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22, FiscalAI reports. Wintrust Financial had a return on equity of 12.82% and a net margin of 18.85%.The company had revenue of $586.67 million for the quarter, compared to the consensus estimate of $700.85 million.

Wintrust Financial Stock Down 0.8%

Shares of NASDAQ:WTFC traded down $1.21 during trading hours on Tuesday, hitting $144.72. The company’s stock had a trading volume of 482,442 shares, compared to its average volume of 382,647. Wintrust Financial has a 52 week low of $89.10 and a 52 week high of $149.79. The firm’s fifty day moving average price is $138.75 and its 200 day moving average price is $133.84. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 13.30 and a beta of 0.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.00 and a quick ratio of 1.00.

Wintrust Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Thursday, November 6th. Wintrust Financial’s payout ratio is presently 18.38%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP purchased a new stake in Wintrust Financial in the third quarter valued at approximately $90,187,000. Verition Fund Management LLC increased its stake in shares of Wintrust Financial by 172.4% in the 3rd quarter. Verition Fund Management LLC now owns 238,210 shares of the bank’s stock valued at $31,549,000 after purchasing an additional 150,768 shares in the last quarter. Holocene Advisors LP raised its stake in shares of Wintrust Financial by 310.4% during the 3rd quarter. Holocene Advisors LP now owns 160,605 shares of the bank’s stock worth $21,271,000 after buying an additional 121,474 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in Wintrust Financial during the second quarter valued at $15,002,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in Wintrust Financial in the 3rd quarter worth about $14,094,000. Institutional investors and hedge funds own 93.48% of the company’s stock.

Wall Street Analyst Weigh In

WTFC has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Wintrust Financial from $175.00 to $178.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Weiss Ratings restated a “buy (b-)” rating on shares of Wintrust Financial in a report on Wednesday, October 8th. Jefferies Financial Group cut their target price on Wintrust Financial from $165.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, October 21st. Truist Financial lifted their price target on shares of Wintrust Financial from $151.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, DA Davidson reissued a “buy” rating and issued a $158.00 target price on shares of Wintrust Financial in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.50.

Wintrust Financial Company Profile

Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.

The firm’s core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.