Wintrust Financial (NASDAQ:WTFC) Releases Earnings Results

Wintrust Financial (NASDAQ:WTFC) released its quarterly earnings data on Monday. The bank reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.15, Zacks reports. Wintrust Financial had a return on equity of 13.15% and a net margin of 20.11%.

Wintrust Financial Price Performance

Shares of NASDAQ:WTFC traded down $0.64 during trading on Monday, reaching $163.66. 864,248 shares of the company’s stock traded hands, compared to its average volume of 501,638. Wintrust Financial has a fifty-two week low of $119.61 and a fifty-two week high of $167.21. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. The firm has a market cap of $11.04 billion, a PE ratio of 13.72 and a beta of 0.84. The company has a 50-day simple moving average of $155.22 and a 200-day simple moving average of $148.90.

Analyst Ratings Changes

Several analysts recently commented on WTFC shares. Citigroup raised their target price on Wintrust Financial from $178.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Barclays boosted their price target on Wintrust Financial from $190.00 to $192.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Truist Financial upped their price objective on Wintrust Financial from $170.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Raymond James Financial began coverage on shares of Wintrust Financial in a research note on Tuesday, July 7th. They set an “outperform” rating and a $180.00 price objective on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $188.00 target price (up from $184.00) on shares of Wintrust Financial in a report on Wednesday, April 22nd. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.92.

Insider Buying and Selling

In other Wintrust Financial news, COO David A. Dykstra sold 9,579 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $148.82, for a total transaction of $1,425,546.78. Following the transaction, the chief operating officer owned 179,810 shares in the company, valued at approximately $26,759,324.20. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David L. Stoehr sold 3,020 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $150.45, for a total value of $454,359.00. Following the completion of the sale, the chief financial officer directly owned 13,213 shares in the company, valued at approximately $1,987,895.85. The trade was a 18.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 13,099 shares of company stock valued at $1,954,386. 1.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wintrust Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in WTFC. Advisors Asset Management Inc. purchased a new position in Wintrust Financial during the first quarter valued at $27,000. Strive Financial Group LLC acquired a new position in shares of Wintrust Financial during the 4th quarter worth about $39,000. Los Angeles Capital Management LLC purchased a new position in Wintrust Financial in the 4th quarter valued at about $41,000. State of Wyoming acquired a new stake in Wintrust Financial in the 2nd quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC increased its stake in Wintrust Financial by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 400 shares of the bank’s stock worth $50,000 after buying an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 93.48% of the company’s stock.

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.