Wintrust Financial (NASDAQ:WTFC) Posts Quarterly Earnings Results, Beats Estimates By $0.47 EPS

Wintrust Financial (NASDAQ:WTFC) announced 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. The business had revenue of $604.77 million during the quarter, compared to the consensus estimate of $577.80 million. Wintrust Financial had a net margin of 18.71% and a return on equity of 13.23%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 earnings per share.

Wintrust Financial Stock Up 0.5 %

Shares of NASDAQ:WTFC opened at $94.96 on Thursday. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 9.91 and a beta of 1.21. Wintrust Financial has a 1-year low of $58.12 and a 1-year high of $105.29. The company’s fifty day moving average is $98.06 and its two-hundred day moving average is $90.54. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.99 and a current ratio of 0.99.

Wintrust Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from Wintrust Financial’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, February 7th. Wintrust Financial’s dividend payout ratio is 18.79%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Wintrust Financial

A number of institutional investors and hedge funds have recently bought and sold shares of WTFC. Belpointe Asset Management LLC grew its position in Wintrust Financial by 106.2% in the 1st quarter. Belpointe Asset Management LLC now owns 365 shares of the bank’s stock valued at $27,000 after buying an additional 188 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new position in Wintrust Financial in the 4th quarter valued at about $44,000. Quarry LP grew its position in Wintrust Financial by 36.1% in the 1st quarter. Quarry LP now owns 663 shares of the bank’s stock valued at $48,000 after buying an additional 176 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Wintrust Financial in the 1st quarter valued at about $59,000. Finally, State of Wyoming bought a new position in Wintrust Financial in the 4th quarter valued at about $101,000. Institutional investors own 93.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of Wintrust Financial from $111.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Raymond James upped their target price on shares of Wintrust Financial from $95.00 to $115.00 and gave the company a “strong-buy” rating in a research note on Friday, January 19th. Barclays assumed coverage on shares of Wintrust Financial in a research note on Friday, March 8th. They issued an “overweight” rating and a $135.00 target price for the company. UBS Group increased their price objective on shares of Wintrust Financial from $105.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, Stephens reiterated an “overweight” rating and set a $110.00 price objective on shares of Wintrust Financial in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.83.

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.