Wintrust Financial (NASDAQ:WTFC) Announces Earnings Results
by Renee Jackson · The Cerbat GemWintrust Financial (NASDAQ:WTFC – Get Free Report) issued its quarterly earnings results on Monday. The bank reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.96 by $0.26, Zacks reports. Wintrust Financial had a net margin of 19.48% and a return on equity of 12.95%.
Wintrust Financial Price Performance
WTFC stock traded up $0.62 during trading on Monday, hitting $148.79. 589,702 shares of the stock traded hands, compared to its average volume of 490,547. Wintrust Financial has a one year low of $100.37 and a one year high of $162.96. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of 13.05 and a beta of 0.86. The company has a 50 day simple moving average of $143.14 and a 200 day simple moving average of $139.51. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.66.
Wintrust Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, May 14th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, May 14th. Wintrust Financial’s dividend payout ratio (DPR) is currently 19.30%.
Insider Activity
In other Wintrust Financial news, CFO David L. Stoehr sold 2,499 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $146.16, for a total value of $365,253.84. Following the completion of the sale, the chief financial officer owned 18,638 shares in the company, valued at approximately $2,724,130.08. This trade represents a 11.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kathleen M. Boege sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $146.38, for a total transaction of $731,900.00. Following the completion of the sale, the executive vice president owned 22,883 shares of the company’s stock, valued at $3,349,613.54. The trade was a 17.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,662 shares of company stock worth $1,705,730 over the last ninety days. Corporate insiders own 1.01% of the company’s stock.
Institutional Investors Weigh In On Wintrust Financial
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WTFC. Advisors Asset Management Inc. acquired a new stake in Wintrust Financial in the 1st quarter valued at about $27,000. Strive Financial Group LLC acquired a new stake in shares of Wintrust Financial during the 4th quarter worth approximately $39,000. State of Wyoming acquired a new stake in shares of Wintrust Financial during the 2nd quarter worth approximately $41,000. Los Angeles Capital Management LLC acquired a new position in Wintrust Financial during the fourth quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Wintrust Financial by 400.0% during the second quarter. EverSource Wealth Advisors LLC now owns 400 shares of the bank’s stock valued at $50,000 after purchasing an additional 320 shares during the period. Institutional investors and hedge funds own 93.48% of the company’s stock.
Analyst Ratings Changes
WTFC has been the subject of a number of analyst reports. Stephens initiated coverage on shares of Wintrust Financial in a report on Friday, March 27th. They set an “equal weight” rating and a $160.00 price objective for the company. UBS Group reaffirmed a “buy” rating and set a $176.00 price objective on shares of Wintrust Financial in a report on Wednesday, February 4th. Piper Sandler raised their price objective on shares of Wintrust Financial from $161.00 to $184.00 and gave the stock an “overweight” rating in a report on Thursday, January 22nd. Barclays raised their price objective on shares of Wintrust Financial from $178.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, January 22nd. Finally, Truist Financial reduced their price objective on shares of Wintrust Financial from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.62.
Check Out Our Latest Stock Report on Wintrust Financial
About Wintrust Financial
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.