Equities Analysts Set Expectations for WTFC FY2024 Earnings

Wintrust Financial Co. (NASDAQ:WTFC) – Equities researchers at DA Davidson dropped their FY2024 earnings estimates for Wintrust Financial in a note issued to investors on Wednesday, October 23rd. DA Davidson analyst J. Rulis now anticipates that the bank will post earnings of $10.15 per share for the year, down from their previous forecast of $10.20. DA Davidson currently has a “Buy” rating and a $130.00 target price on the stock. The consensus estimate for Wintrust Financial’s current full-year earnings is $10.11 per share.

A number of other research firms have also weighed in on WTFC. Wedbush reaffirmed an “outperform” rating and set a $130.00 target price on shares of Wintrust Financial in a report on Tuesday. Royal Bank of Canada increased their price objective on Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Piper Sandler boosted their target price on Wintrust Financial from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods cut Wintrust Financial from an “outperform” rating to a “market perform” rating and raised their price target for the company from $110.00 to $115.00 in a report on Friday, July 19th. Finally, Citigroup boosted their price objective on Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Wintrust Financial Stock Down 0.1 %

WTFC stock opened at $114.17 on Friday. Wintrust Financial has a twelve month low of $71.86 and a twelve month high of $117.77. The firm has a market capitalization of $7.59 billion, a PE ratio of 11.95 and a beta of 1.16. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.73. The stock has a 50-day simple moving average of $107.44 and a two-hundred day simple moving average of $102.24.

Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.03). The company had revenue of $615.73 million for the quarter, compared to analysts’ expectations of $623.45 million. Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 EPS.

Institutional Trading of Wintrust Financial

Hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its holdings in shares of Wintrust Financial by 1.1% in the third quarter. Nisa Investment Advisors LLC now owns 28,490 shares of the bank’s stock worth $3,092,000 after buying an additional 315 shares during the period. State of Alaska Department of Revenue increased its stake in Wintrust Financial by 16.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,718 shares of the bank’s stock worth $837,000 after purchasing an additional 1,105 shares during the period. Louisiana State Employees Retirement System lifted its position in Wintrust Financial by 5.1% in the third quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the bank’s stock valued at $1,997,000 after purchasing an additional 900 shares during the last quarter. West Michigan Advisors LLC purchased a new stake in shares of Wintrust Financial during the third quarter valued at approximately $247,000. Finally, International Assets Investment Management LLC bought a new position in shares of Wintrust Financial in the third quarter worth approximately $35,000. 93.48% of the stock is owned by institutional investors.

Wintrust Financial Company Profile

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.