Brokers Set Expectations for Wintrust Financial Co.’s Q2 2024 Earnings (NASDAQ:WTFC)

Wintrust Financial Co. (NASDAQ:WTFC) – Equities research analysts at Wedbush lifted their Q2 2024 EPS estimates for Wintrust Financial in a research report issued to clients and investors on Thursday, April 18th. Wedbush analyst D. Chiaverini now expects that the bank will earn $2.47 per share for the quarter, up from their previous estimate of $2.44. 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 $9.95 per share. Wedbush also issued estimates for Wintrust Financial’s Q3 2024 earnings at $2.46 EPS, Q4 2024 earnings at $2.34 EPS, FY2024 earnings at $10.16 EPS, Q2 2025 earnings at $2.52 EPS, Q3 2025 earnings at $2.58 EPS, Q4 2025 earnings at $2.55 EPS and FY2025 earnings at $10.05 EPS.

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

WTFC has been the subject of several other reports. Jefferies Financial Group increased their price target on shares of Wintrust Financial from $114.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Stephens reissued an “overweight” rating and set a $110.00 price target on shares of Wintrust Financial in a report on Tuesday, April 16th. Royal Bank of Canada increased their price target on shares of Wintrust Financial from $109.00 to $116.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. StockNews.com raised shares of Wintrust Financial from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Barclays cut their price target on shares of Wintrust Financial from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Friday. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Wintrust Financial currently has a consensus rating of “Buy” and an average target price of $112.92.

Wintrust Financial Price Performance

Shares of WTFC opened at $97.31 on Friday. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 10.06 and a beta of 1.21. Wintrust Financial has a fifty-two week low of $58.12 and a fifty-two week high of $105.29. The firm has a 50-day simple moving average of $98.18 and a 200-day simple moving average of $90.86. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.99 and a current ratio of 0.98.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WTFC. HighTower Advisors LLC boosted its position in Wintrust Financial by 3.9% during the first quarter. HighTower Advisors LLC now owns 11,802 shares of the bank’s stock worth $1,095,000 after acquiring an additional 438 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Wintrust Financial by 12.8% during the first quarter. PNC Financial Services Group Inc. now owns 3,475 shares of the bank’s stock worth $324,000 after acquiring an additional 394 shares during the last quarter. Natixis Advisors L.P. boosted its position in Wintrust Financial by 1.5% during the first quarter. Natixis Advisors L.P. now owns 16,809 shares of the bank’s stock worth $1,562,000 after acquiring an additional 255 shares during the last quarter. MetLife Investment Management LLC boosted its position in Wintrust Financial by 33.4% during the first quarter. MetLife Investment Management LLC now owns 36,861 shares of the bank’s stock worth $3,425,000 after acquiring an additional 9,235 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Wintrust Financial by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,892 shares of the bank’s stock worth $1,941,000 after acquiring an additional 1,992 shares during the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wintrust Financial

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

Wintrust Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This is a boost from Wintrust Financial’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.85%. Wintrust Financial’s dividend payout ratio (DPR) is 18.61%.

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.