Q2 2024 EPS Estimates for Wintrust Financial Co. (NASDAQ:WTFC) Cut by Analyst

Wintrust Financial Co. (NASDAQ:WTFC) – Equities researchers at Wedbush decreased their Q2 2024 EPS estimates for shares of Wintrust Financial in a research report issued to clients and investors on Monday, June 24th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings of $2.37 per share for the quarter, down from their previous estimate of $2.47. Wedbush currently has a “Outperform” rating and a $116.00 target price on the stock. The consensus estimate for Wintrust Financial’s current full-year earnings is $10.13 per share. Wedbush also issued estimates for Wintrust Financial’s Q4 2024 earnings at $2.45 EPS.

Wintrust Financial (NASDAQ:WTFC) last posted its earnings results on Thursday, April 18th. The bank reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.47. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. The company had revenue of $604.77 million during the quarter, compared to analyst estimates of $577.80 million. During the same quarter in the prior year, the business earned $2.80 earnings per share. Wintrust Financial’s revenue was up 6.9% on a year-over-year basis.

Several other research firms have also commented on WTFC. Barclays decreased their price target on shares of Wintrust Financial from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Truist Financial decreased their target price on shares of Wintrust Financial from $117.00 to $112.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. StockNews.com raised shares of Wintrust Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Jefferies Financial Group boosted their target price on Wintrust Financial from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Stephens reiterated an “overweight” rating and issued a $110.00 price target on shares of Wintrust Financial in a research note on Tuesday, April 16th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.38.

Wintrust Financial Trading Up 3.0 %

Shares of NASDAQ WTFC opened at $98.56 on Thursday. Wintrust Financial has a 1-year low of $70.25 and a 1-year high of $105.29. The business has a fifty day moving average price of $97.66 and a 200 day moving average price of $96.84. The stock has a market capitalization of $6.09 billion, a P/E ratio of 10.19 and a beta of 1.19. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.98 and a quick ratio of 0.97.

Wintrust Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.83%. The ex-dividend date was Wednesday, May 8th. Wintrust Financial’s payout ratio is currently 18.61%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WTFC. Capital International Investors increased its position in shares of Wintrust Financial by 79.5% during the fourth quarter. Capital International Investors now owns 1,566,003 shares of the bank’s stock worth $145,247,000 after purchasing an additional 693,452 shares in the last quarter. Norges Bank acquired a new stake in shares of Wintrust Financial in the fourth quarter valued at approximately $61,898,000. Principal Financial Group Inc. lifted its position in Wintrust Financial by 136.7% during the fourth quarter. Principal Financial Group Inc. now owns 860,623 shares of the bank’s stock worth $79,823,000 after buying an additional 497,065 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Wintrust Financial during the fourth quarter worth $31,267,000. Finally, Jennison Associates LLC grew its holdings in Wintrust Financial by 102.2% in the 4th quarter. Jennison Associates LLC now owns 596,632 shares of the bank’s stock valued at $55,338,000 after buying an additional 301,528 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 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.