Wintrust Financial (NASDAQ:WTFC) Issues Quarterly Earnings Results

Wintrust Financial (NASDAQ:WTFC) released its earnings results on Wednesday. The bank reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.47, Briefing.com reports. Wintrust Financial had a return on equity of 13.23% and a net margin of 18.71%. The firm had revenue of $604.77 million for the quarter, compared to analyst estimates of $577.80 million. During the same quarter in the prior year, the firm posted $2.80 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis.

Wintrust Financial Stock Up 0.5 %

WTFC stock opened at $94.96 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $98.06 and a two-hundred day moving average price of $90.54. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 9.91 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. Shareholders of record on Thursday, February 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.90%. This is an increase from Wintrust Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, February 7th. Wintrust Financial’s dividend payout ratio (DPR) is currently 18.79%.

Analysts Set New Price Targets

Several brokerages have issued reports on WTFC. StockNews.com downgraded Wintrust Financial from a “hold” rating to a “sell” rating in a report on Sunday, March 31st. Barclays began coverage on Wintrust Financial in a report on Friday, March 8th. They issued an “overweight” rating and a $135.00 price target for the company. Royal Bank of Canada increased 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. Keefe, Bruyette & Woods increased their price target on Wintrust Financial from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Finally, Raymond James increased their price target on Wintrust Financial from $95.00 to $115.00 and gave the stock a “strong-buy” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wintrust Financial has an average rating of “Moderate Buy” and a consensus price target of $113.33.

Insider Buying and Selling at Wintrust Financial

In other Wintrust Financial news, insider Edward J. Wehmer sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $99.36, for a total value of $943,920.00. Following the completion of the transaction, the insider now directly owns 177,124 shares in the company, valued at $17,599,040.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Wintrust Financial news, insider Edward J. Wehmer sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $99.36, for a total value of $943,920.00. Following the completion of the transaction, the insider now directly owns 177,124 shares in the company, valued at $17,599,040.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey D. Hahnfeld sold 588 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $97.88, for a total value of $57,553.44. Following the completion of the transaction, the executive vice president now owns 3,410 shares of the company’s stock, valued at $333,770.80. The disclosure for this sale can be found here. Corporate insiders own 1.47% of the company’s stock.

Institutional Trading of Wintrust Financial

Hedge funds have recently made changes to their positions in the business. Belpointe Asset Management LLC lifted its position in shares of Wintrust Financial by 106.2% in the first quarter. Belpointe Asset Management LLC now owns 365 shares of the bank’s stock valued at $27,000 after buying an additional 188 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in shares of Wintrust Financial in the fourth quarter valued at approximately $44,000. Quarry LP lifted its position in shares of Wintrust Financial by 36.1% in the first quarter. Quarry LP now owns 663 shares of the bank’s stock valued at $48,000 after buying an additional 176 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Wintrust Financial in the first quarter valued at approximately $59,000. Finally, State of Wyoming acquired a new stake in shares of Wintrust Financial in the fourth quarter valued at approximately $101,000. 93.48% of the stock is owned by institutional investors and hedge funds.

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.