Wintrust Financial (NASDAQ:WTFC) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Wintrust Financial (NASDAQ:WTFC) issued its earnings results on Monday. The bank reported $3.37 EPS for the quarter, beating the consensus estimate of $3.31 by $0.06, FiscalAI reports. Wintrust Financial had a net margin of 20.72% and a return on equity of 13.37%. The company had revenue of $757.88 million for the quarter, compared to the consensus estimate of $754.57 million. During the same quarter in the previous year, the company earned $3.06 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year.

Wintrust Financial Stock Performance

Shares of NASDAQ:WTFC opened at $142.44 on Tuesday. Wintrust Financial has a twelve month low of $122.00 and a twelve month high of $167.21. The firm has a market cap of $9.61 billion, a PE ratio of 11.44 and a beta of 0.89. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 0.98. The business has a fifty day moving average of $149.57 and a 200-day moving average of $152.25.

Wintrust Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a $0.55 dividend. The ex-dividend date was Thursday, August 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. Wintrust Financial’s dividend payout ratio (DPR) is 17.67%.

Wall Street Analysts Forecast Growth

WTFC has been the subject of a number of recent analyst reports. Brean Capital cut shares of Wintrust Financial from a “buy” rating to a “neutral” rating and set a $170.00 target price for the company. in a research report on Tuesday, July 21st. UBS Group restated a “neutral” rating and issued a $170.00 price target on shares of Wintrust Financial in a research report on Tuesday, July 7th. Truist Financial boosted their price target on shares of Wintrust Financial from $170.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Capital One Financial set a $170.00 price objective on shares of Wintrust Financial in a research note on Tuesday, July 21st. Finally, Piper Sandler raised their price objective on shares of Wintrust Financial from $186.00 to $195.00 and gave the stock an “overweight” rating in a report on Monday, October 5th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Wintrust Financial presently has an average rating of “Moderate Buy” and a consensus price target of $176.20.

Insider Transactions at Wintrust Financial

In other Wintrust Financial news, COO David Dykstra sold 13,515 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $162.77, for a total transaction of $2,199,836.55. Following the sale, the chief operating officer owned 166,449 shares of the company’s stock, valued at $27,092,903.73. This represents a 7.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.24% of the stock is currently owned by company insiders.

Wintrust Financial News Roundup

Here are the key news stories impacting Wintrust Financial this week:

• Positive Sentiment: Record earnings and an EPS beat: Third-quarter net income reached a record $239.1 million, or $3.37 per diluted share, versus analysts’ estimates of $3.31. Revenue was $757.9 million, slightly above the $754.6 million consensus, and increased 8.6% year over year. Wintrust Financial Q3 earnings beat
• Positive Sentiment: Growth remained broad-based: Net interest income rose to $621.6 million, while loans increased $1.1 billion and deposits grew $1.3 billion from the prior quarter. Year-to-date net income climbed 17% to a record $700.1 million, with pre-tax, pre-provision income reaching $1.0 billion. Management said loan pipelines and deposit-market-share gains support continued growth. Wintrust reports record net income
• Neutral Sentiment: Margins were broadly stable: Net interest margin was 3.49%, only one basis point below the prior quarter and in line with management’s guidance. The company also maintained its quarterly dividend at $0.55 per share. Management is scheduled to discuss the results on October 20.
• Negative Sentiment: Credit costs increased: Provision for credit losses rose to $25.9 million from $23.1 million, while net charge-offs increased to $21.0 million, or 15 basis points of average loans, from $13.4 million. Although non-performing loans declined slightly to $176.9 million, investors may be monitoring whether losses accelerate as the loan book expands. Wintrust loan and deposit growth
• Negative Sentiment: Some earnings-quality pressures emerged: Non-interest income fell to $136.3 million from $141.3 million, driven partly by lower mortgage banking revenue and a $1.6 million investment-securities loss. Non-interest expense increased 2% sequentially, while tangible common equity declined to 7.9% from 8.4%.

Wintrust Financial Company Profile

Wintrust Financial Corporation (NASDAQ: WTFC) is a financial holding company headquartered in Rosemont, Illinois. Through its network of community banking subsidiaries, the company provides banking and financial services to individuals, families, businesses and institutions.

Its offerings include checking and savings accounts, commercial and consumer lending, residential mortgages, treasury management, cash management and other deposit services. Wintrust also provides wealth management, investment services, insurance-related products and specialized finance solutions, including equipment finance and premium finance.

Founded in 1991, Wintrust has built its business through a community banking model that combines local decision-making and relationship-based service with the resources of a larger financial organization.