Wedbush Comments on Wintrust Financial Co.’s Q3 2024 Earnings (NASDAQ:WTFC)

Wintrust Financial Co. (NASDAQ:WTFC) – Equities research analysts at Wedbush upped their Q3 2024 earnings per share (EPS) estimates for shares of Wintrust Financial in a report issued on Tuesday, September 24th. Wedbush analyst D. Chiaverini now forecasts that the bank will earn $2.59 per share for the quarter, up from their prior forecast of $2.58. Wedbush has a “Outperform” rating and a $130.00 price objective on the stock. The consensus estimate for Wintrust Financial’s current full-year earnings is $10.12 per share. Wedbush also issued estimates for Wintrust Financial’s Q4 2024 earnings at $2.52 EPS and FY2026 earnings at $10.30 EPS.

A number of other brokerages have also recently weighed in on WTFC. Hovde Group reissued a “market perform” rating and set a $100.00 target price on shares of Wintrust Financial in a report on Friday, June 21st. Royal Bank of Canada raised their target price on shares of Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Piper Sandler upped their target price on Wintrust Financial from $113.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods downgraded Wintrust Financial from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $110.00 to $115.00 in a report on Friday, July 19th. Finally, Jefferies Financial Group reduced their price objective on Wintrust Financial from $118.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wintrust Financial has an average rating of “Moderate Buy” and an average price target of $118.23.

Wintrust Financial Price Performance

Shares of WTFC opened at $106.55 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 11.02 and a beta of 1.16. Wintrust Financial has a 52 week low of $71.86 and a 52 week high of $113.68. The stock has a 50 day moving average of $104.71 and a 200-day moving average of $100.91.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings results on Wednesday, July 17th. The bank reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.10). The company had revenue of $591.76 million during the quarter, compared to the consensus estimate of $587.33 million. Wintrust Financial had a return on equity of 12.71% and a net margin of 17.02%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.38 EPS.

Wintrust Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Thursday, August 8th. Wintrust Financial’s payout ratio is currently 18.61%.

Institutional Trading of Wintrust Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Wintrust Financial by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock worth $673,603,000 after acquiring an additional 244,168 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Wintrust Financial by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock worth $297,376,000 after purchasing an additional 146,090 shares in the last quarter. Capital International Investors raised its holdings in shares of Wintrust Financial by 4.6% in the 1st quarter. Capital International Investors now owns 1,638,085 shares of the bank’s stock worth $171,000,000 after purchasing an additional 72,082 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Wintrust Financial by 54.6% during the first quarter. Principal Financial Group Inc. now owns 1,330,263 shares of the bank’s stock valued at $138,866,000 after purchasing an additional 469,640 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Wintrust Financial by 1.8% during the second quarter. Federated Hermes Inc. now owns 815,466 shares of the bank’s stock worth $80,372,000 after buying an additional 14,087 shares in the last quarter. Institutional investors own 93.48% of the company’s stock.

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.